Converting Coins to Cash?

[Circa89]

Whats the best way of going about this? I have been collecting the pocket change for the last year as a means of supplemental savings for a Vacation. I was going to go to the Casino but they do the voucher systems now.

Does every Bank offer this service?

[jolinar of malkshor]

Some places have a machine that will sort it for you but they will take 10% for doing it. I have no idea where one is in Calgary but when I was in Lethbridge the Canadian Tire had one and I also got a donation reciept for the 10% that they took because it was a non-profit group that had the machine.

[Winsor_Pilates]

I roll my own, and then take it to a bank to trade in for paper money. Any bank should be able to do this.

[CaptainCrunch]

I wish that I knew where one of those machines is. I have a very large water bottle that I collect chance in and its probably got several hundred dollars in it because I'm just as inclined to toss loonies and toonies into the thing as other change.

The problem is that change seems to breed as you go along because your dumping into it at least once a week.

I hate rolling coins because it takes forever, and when you take it to a bank, the teller looks at you like you just farted in church.

[Agamemnon]

Originally Posted by Winsor_Pilates

I roll my own, and then take it to a bank to trade in for paper money. Any bank should be able to do this.

This is what I do about every 12 months or so.... I should do it more often, I usually bring in what feels like 20 pounds of metal.

[Circa89]

I'm going to try the local Bank and have them convert it directly to American moola.
So If I bring in $1000.00 in coins I should see about ~ $400 USD?

According to www.xe.com Wow it's going to cost 1.27 to buy 1 USD before bank charges and any coin conversion fees if applicable.

[SportsJunky]

I bought a machine from Costco a year ago for around 80 bucks. You dump your money in, it sorts it, spits it into the sleeves and you are done. Take them to your bank branch. I've only used it once so far but it worked amazingly well.

[Circa89]

Originally Posted by CaptainCrunch

I wish that I knew where one of those machines is. I have a very large water bottle that I collect chance in and its probably got several hundred dollars in it because I'm just as inclined to toss loonies and toonies into the thing as other change.

The problem is that change seems to breed as you go along because your dumping into it at least once a week.

I hate rolling coins because it takes forever, and when you take it to a bank, the teller looks at you like you just farted in church.

Thats what I am looking for, then you can save hours and hours sorting and rolling coins. I have heard of this mythical machine but I have never personally seen one before.


edit: too slow; looks like I can buy one at costco.

[Claeren]

Is it possible to get rolls/sleeves for free someplace?


You used to be able to go to the bank and get them for free? Do they still do that?

Seems silly to spend money on rolls to roll pennies?!




Claeren.

[Ducay]

You can get a big bag of mixed rolls at the dollar store for.....$1 (Dollaramas)

I remember seeing one of those machines in a cheque cashing store once, but cant remember which or where.

[valo403]

Originally Posted by Circa89

I'm going to try the local Bank and have them convert it directly to American moola.
So If I bring in $1000.00 in coins I should see about ~ $400 USD?

According to www.xe.com Wow it's going to cost 1.27 to buy 1 USD before bank charges and any coin conversion fees if applicable.

You should get way more than $400, unless I'm missing the joke here. Expect around $750, the bank won't be charging you much at all.

[SportsJunky]

Originally Posted by Ducay

You can get a big bag of mixed rolls at the dollar store for.....$1 (Dollaramas)

The problem with the mixed bags is that you need decidedly more penny and nickel sleeves over loonie or even quarters and those bags don't tend to break them up that way.

[Agamemnon]

I thought those change/cash machines were for commercial purposes? I know malls usually have one so the stores can deposit their change, but you needed a swipe card from the store to operate it.

[Locke]

Originally Posted by Winsor_Pilates

I roll my own, and then take it to a bank to trade in for paper money. Any Vancouver bank should be able to do this.

Fixed...

Not every bank has people willing to pay for product.

[Claeren]

Originally Posted by SportsJunky

The problem with the mixed bags is that you need decidedly more penny and nickel sleeves over loonie or even quarters and those bags don't tend to break them up that way.

Exactly.




Claeren.

[Circa89]

Originally Posted by valo403

You should get way more than $400, unless I'm missing the joke here. Expect around $750, the bank won't be charging you much at all.

Sorry. It should have been green text. That was my disappointed math. If I had gone this time last year 1CAD = 1USD.

[Winsor_Pilates]

Originally Posted by Locke

Fixed...

Not every bank has people willing to pay for product.

I've only actually traded my coins in when I lived in Calgary....so unfixed

[Locke]

Originally Posted by Winsor_Pilates

I've only actually traded my coins in when I lived in Calgary....so unfixed

I'm sorry, I was trying to make a marijuana joke, but it didnt really come off.

[Ice]

Your banks up there don't charge by the roll to deposit coins? Nice.

The coin machines are in lots of grocery stores down here. The machine gives you a receipt, takes 7.5% as a fee and you can take the receipt to one of the checkers and they'll give you cash for it.

[Hack&Lube]

I used to carry pocketfulls of loose change to use at Wal-Mart and other places that have the self-checkouts and I would just dump it all into the slot to the annoyance of people in line behind me but they don't take anything less than dimes which means I still have craploads of nickels and pennies to deal with.