Fees for Dumping (thinking Coinstar alternative)

[Crescendo]

Love the openness and feedback people give here and now I've gotten quite curious about the concept of dumping and the mentality behind it so curiously asking:

If you could have a one-and-done dump spot. Bring zincs, or any other denomination you want. No rolled coin, only loose or in bags. Loose gets counted. Bags would be spot checked and weighed for accuracy.

(1) Would you be willing to pay a fee?

(2) IF you answered yes to (1) what is total cost you'd be willing to pay for that service (per full FED bag you bring Ie: $50 penny bag, $200 nickel bag, ($1000 dime/half bag)?

(3) What form of payment would you want? (Cash, Check, ACH to your bank, Bitcoin, Disney Bucks, etc)

(4) How far would you be willing to travel for this service?

No limit on the amount you could dump. Meaning this is not a Coinstar or counting machine that would get full and you are done. No getting cut off (unless you do naughty things like try to deposit washers instead of coins or whatever)


Thanks in advance for your thoughts.

[mishra142]

For halves I'd be willing to pay $1 or 2 per $1000 bag if cash was instant and I could dump as much as I wanted.

[RichardPenny43]

I would not and do not pay a fee for dumping.
There are several dump banks all less than 10 minutes away from my home.
I dump the loose coin into the lobby counter, take the ticket to the teller and get cash or deposit it into my account.
Only one of these counters has ever filled up when I was dumping, and none of the banks have said that I was dumping too much.

[ScrapMetal]

No, would not pay to dump coins.
I have many branches of my bank that have a counter in the lobby. I make my rounds dumping about $70 at each bank (total of 3 branches) every few days. I consider it a service from the bank for being a member. One branch has an older machine that regularly counts pennies as nickles or dimes, so I make out by 50 to 75 cents each dump there.

[m83striker]

I'd be willing to pay 5% and drive 15 to 20 minutes away. I have no banks with coin counters within at least a 3 hour drive radius and the only bank that will take loose change is Chase. Chase requires a minumum of $1500 in the account at all times, direct deposit of your paycheck and they send it out and the money will be put back into your account "in about a week". I currently roll all my zinc because that is what I'm required to do. Between the time I spend at my coin sorters, the pre-crimped rolls and driving them back to the bank I could easily save the 5% that I would pay. For those if you that have coin counter in their bank lobbies, consider yourself very lucky. I am still holding out for the deal between Paypal and Coinstar cause that would be a sweet deal for me.

[$nack-Money]

i would pay up to $2 per $1000 of halves ($1 per box), cash only, would travel 20 mins to do so... and if this was avail within 20 mins of me, they better bring an extra truck to take the halves away.

[m83striker]

My post was for copper only since I currently don't search for silver. I would love to give nickels a try someday.

[cesariojpn]

No fees period.

Option to choose what I want as payment (within reason.......doubtful you get payment in sex, but I digress....)

At least within walking distance of a bus stop. Inclusion in some public facility like a mall.

[Engineer]

I actually offered $2.50/bag for this type of deal on a new dump bank, but the manager gave me free unlimited dumps after calling corporate. I keep the dumps at his branch down to five bags a week to keep him from changing his mind.

[reddirtcoins]

I wouldn't pay a fee unless it was north of 10,000fv at a time and at one location. There are way too many banks that will take 1-2k-fv at once. It's very easy to do 4-6k a week and not waste any time dumping.