Coinstar speed (not)

[68Camaro]

Caveats...

1) This may have been discussed at length in the past; if so, I'm sorry - I've only been a member for a month and lurked a month before that.
2) I'm small time; doing this only for myself in the background, with small aspirations (which you can tell from my prior comments).

I had previously used my credit union for dumps until they went from free to 5%. They have a de la rue machine which rocks (by comparison to coinstar). A real speed demon. Dump it in, it feeds fast, on it's own, and really moves.

I had tested a coinstar a week or two ago to see how it went and how the voucher system worked. I didn't stress it, but put about a box worth of zincs into it. It seemed a bit slow, but seemed to go ok. So I'm thinking I've got a solution that works and doesn't cost me except for the time.

Today over lunch I went out to the nearest coinstar for a serious 4 box dump. Good grief. When you try to put that much into it, it's slow as molasses! Now I understand some complaints from some of the more serious sorters about it being slow. It's not only slow; it jammed on me 4 times, and each time it "resets" and loses the free voucher. Fortunately the Albertson's managers gave me a full refund back (four of them), and apologized, but I could see this being a real mess if located in a store that was less friendly. I'm now tempted to take my 5% fee and save the time and trials. I estimate the de la rue was at least 3-4x faster; 10 minutes or less and I was done with a couple boxes worth. I need to look around a bit more and see if any other places have the counters, and if any have free de la rues. Most banks here in Central Florida do not have counters at all (if anyone can point me to one that does, please let me know).

[highroller4321]

Depending on what de la rue you have it runs from 3000-5000 coins per minue. The coinstar is suppose to run about 600/minute.

What I would do is tell your bank you have a coin counter and just see if you can deposit bage directly to them. You might have to open a business account but hopefully that coutneracts the 5% fee charge.

[68Camaro]

Maybe I didn't explain well, but unfortuately I don't have a de la rue. I was using the one at my local credit union; didn't realize how spoiled I was.

[fasteddy]

68...I think highroller is telling you to ....check with your bank and see if they will take in bags of coins...if yes then get some bags from them and weigh in about 27.5 pounds per bag...It usually takes a few days once you turn in your bags till it hits your account....no fee and no waiting on a counter....I know what you are saying about the de la rue...my CU uses them and in december they started charging 8%..so now I bag and go to a different institution. Good luck.

[jasmatk]

how much of a % is albertsons charging I live in the tampa bay area Fl. and we dont have albertsons they were bought out by publix and all albertsons became publixs but the grocery stores that do have coinstars are charging something like 9% you mentioned a free voucher is coinstar doing free dumps or is that for gift cards?

[68Camaro]

how much of a % is albertsons charging I live in the tampa bay area Fl. and we dont have albertsons they were bought out by publix and all albertsons became publixs but the grocery stores that do have coinstars are charging something like 9% you mentioned a free voucher is coinstar doing free dumps or is that for gift cards?

I prefer publix, as a store, but their counter has no options; fee only. Too bad.

There are only 5 Albertsons left here; and they are charging the same here as they were you, but Coinstar has the gift card options (including reload on several) that include several stores that I frequently use. So I can make some use of them. Today it messed up so much they just gave me reimbursement cash for most of the dump (even better), but actually even that wasn't worth the wait.

I'll check on the bagging option. If they don't need me to count (I don't have a counter), if they will count and (eventually) deposit, that would be ideal. I'll just have to check on at the three banks I have accounts at.

Rich

[CardsNCoins]

I believe what fasteddy is saying is that if your bag weighs 27.5 lbs then you know there's about $50.00 in zincs inside there (give or take a few cents) when you drop it off at the bank.

[68Camaro]

Not having done this, I'm assuming the bank isn't going to take my word for the count in a bag of coins; I'm assuming that they will actually count it. So all weighing does is give me an idea of what the count should be, plus or minus. So 27.5, or 26, or 29 - what does it matter as long as I know the weight?

[CardsNCoins]

.....all weighing does is give me an idea of what the count should be.........

Exactly.

The bank doesn't care about the weight, but you need to have an idea of what you are dropping off, and the weighing gives you that without having to actually count it yourself first.

[Joogaler]

I weigh my bags to 27 LB 9 OZ just to be safe. Never had one single problem with them, and I've prolly deposited 10k in zincs.

[HoardCopperByTheTon]

My you have a lot of coins! .. Please wait while we catch up.

CoinStar's website advertises 600 coins per minute. Actual tests by members here have come up with totals ranging from 300 to 500 per minute. My CU has a free CoinStar, but I hardly ever dump there. The hours are not convenient.. and it kills me to stand there and feed that thing when I know I have machines at home that will count 10 times as fast. I would hate to do any significant dumping at this thing.

In Northern CA there are not any banks that I know of with Free coin counters.. just not a west coast thing. If you can find one of your banks that will take it precounted in bags you can pick up a decent coin counter for $200-300.

[68Camaro]

I estimate 200 per minute at the one from yesterday. Not impressive; maybe it was lower than normal because it needed maintenance. It took me about an hour to dump $100-$120, not even counting the extra 15 minutes or so worth of time for mgt to clear the 4 jams.

[Finder]

I can see how coinstar would be a real problem if you dump a lot of coins.

[Diggin4copper]

I can see how coinstar would be a real problem if you dump a lot of coins.

Mostly the 9 percent vigorish.....

[fasteddy]

hey camaro...if the banks will take in bags, then you really dont have to count them...they will send them out with their coin service to have the bags counted. I did buy a small counter off of feebay and I load up the bags from $50 to $100 in cents....yep one bank wants me to put in $100 in a bag...then they have ME move them into the coin room. Now that is a workout. I have used coinstar twice....the first time because I didn't know how slow it was and the second time was after my CU started charging and I was going to Lowe's anyway....there will not be a third time....just to dang slow...I can drop off $500 in cents in about 15 minutes in bags.... If I don't forget the dolly

[bgretz1989]

well if you have to reroll your own coins that rate is still faster than what i can do per min. i only use coinstar when i need to update the ipod or go to lowes.

[Finder]

9.8% here.

unghhh.

For that price they should come to my house and get them.