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Hello everyone! I'm wondering how to dispose of about $2000 worth of pennies and nickels weekly in an efficient way...
I have a bank that can give me large quantities of nickels and pennies but this is the problem: They give me pennies and nickels that have been rolled and only accept rolled coins given back. Yes, I do understand I should never dump my coins back at the same bank that I picked up from but they do manage not to mix my coins, so it works for the time being. The main reason I dump at the same bank is because they give me a large amount of coins but expect to get the majority back. As with all the other banks near-by, they also only accept rolls of coins (other than one bank which has a coin machine which does not charge anything to clients.)...
With this said, I'm unsure how to get rid of a large amount of coins. I could dump them at the bank with the coin machine but I don't think they can hold that much (does anyone know?), but then my bank won’t be as willing to give me more coins because they'll be short for other clients. Manually rolling coins takes too long and a machine that rolls them for me costs too much...
How do you get rid of your unwanted nickels/pennies? Does anyone have any tips on a fast process of re-rolling coins?
Any help will be greatly appreciated!
(I live in canada by the way)
Thanks! Happy searches!

The bank i dump at has a machine (no fee if your a member). The machine is able to receive $100 of pennies before being re-bagged and $500 of nickels before being re-bagged. I have dumped 400 dollars in pennies before in this machine and they didn't seem to care re-bagging it. I suggest going to the bank with the machine and just be extremely nice to the person re-bagging for you (I help the girl who is usually re-bagging move the bags and try to make it as easy on here as possible because as long as she is alright with it i can dump there).

You have got to find a dump bank! Eventually, I am afraid you will get cut off from your source bank. Become a member of the bank with the coin machine. Open an account with the bank with the minimum needed to open the account. Once I found such a bank in my neck of the woods, my worries went away about where to get rid of my unwanted coins. Best of luck and welcome to the forum!

There are very few banks here in Canada that have machines. There are a few in Toronto but unless you live there all you can do is complain some more about Toronto.

Thanks everyone! You guys are right, I'm gonna need a dump bank and the one with the coin machine is obviously the best bet.
Thank you coin machines!!! - making life that much easier!

But you're right frugalcanuck, there sure aren't many coin machines in Canada.

Anyway, thanks again!

Why cash in the cupronickel 5 cent pieces? They have intrinsic value.

if you are doing that kind of volume would it be worthwhile to buy a coin wrapping machine? I think they run about $2k but you could wrap the coins at your convenience and return them to the bank with no hassles.

rickygee wrote:Why cash in the cupronickel 5 cent pieces? They have intrinsic value.

I'm actually keeping the cupro nickels. If it's worth more than I paid for it, I'm keeping it!

As for the automatic rolling machine, I may invest in that. For the time being, I'll see how things work out dumping the coins in the coin machine. What I meant initially was that I want to sort $2000 worth of nickels weekly, I'm not actually doing this at the moment. But when the time comes, a coin rolling machine will sure be handy. Does anyone know of an affordable coin rolling machine?

Thanks

I find a coin rolling machine to be a worthwhile investment. Keep an open search for one on eBay.

http://cgi.ebay.com/4-Glory-WR-200-Coin ... 529wt_1139

That guy is offering four for 3,200, you might be able to talk to him and see if he is willing to sell one. It looks like they might need a little repair though.

What Province are you in? If they are pre-2000 I'll buy them from you.

An inexpensive CS type machine will fill shot gun style rolls using the tubes. It counts the coins very fast, but you need to hold the roll under the tube and close the roll.