All those coins

If your house is anything like mine, there will be several bowls, jars, tins, piggy banks and various other containers heaped with coins. My collection is (was) a compilation of two people’s coins saved over the period of atleast 5 years. It didn’t occur to us to actually do anything with these coins until we had run out of space for the containers as well as actually run out of containers.

All those rolls of coinsSo…how does one get rid of coins? We always looked at those coin sorter machines with intense hand-rubbing…”Ohhh wouldn’t that be great” But upon actually trying one out at a friend’s house, I was convinced that it would actually be more of a source of fustration rather than relief. Also, you would have to spend precious nyc apartment space to park this rather dubious gadget which perhaps you may actually use a couple of times in its lifetime. (Instead of looking at containers of coins, you will now have to look at a machine!)

Another option we looked at are those coinstar machines. Very attractive options…take your coins, dump them in a machine and get a printed reciept which you can exchange for money (all for a slight fee ofcourse). I am all for paying small fee if it saves me some time. The problem is that the nearest coinstar machine is a 15 minute walk to the subway, a 15 minute ride on the subway and another 5 minute walk after that. Add to that equation the fact that I now have to lug 5 years worth of coins all that way. BUT you can check and find the nearest coinstar machine near your house at their site. The bonus is that you can donate your money to some great non-profits. Perhaps it will be a good option for you.

Ok, so we went out and bought rolls from the 99 cent store. Sat around rolling coins for a solid day. Those rolls sat in my house for about 3 more months till finally we decided enough was enough and took the rolls to the bank.

Probelm solved? Not quite…here’s what you need to know about taking rolls of coins to the bank.

1) You need to put an account number on EVERY roll!

2) Fill in a deposit slip with the total amount

3) You’re good to go…start getting inline for a teller.

Good luck getting rid of all your coins. I hope I’ve saved you some time. (or at the very least the embarrassment of having to write your account number on your rolls at the bank and taking up the entire counter space)


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