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If you’ve been wondering “where can I change my coins for cash for free or cheap” then this master post of locations is perfect for you.
Many people don’t realize that changing your coins for cash actually saves you money.
Americans throw away $62 million in coins each year, according to CBS News.
What Banks Cash In Coins
The longer you let loose change sit on your dresser or in your car, the more likely you are to lose it.
That’s why its great to use coins for cash services.
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Many people have reported that cashing in their coins has provided them a ton of money they didn’t know they had.
Where To Take Coins For Cash
“I have 4 of those big glass water tanks like the plastic ones they currently use and I put coins in those. When I go on vacation I cash them in and upgrade everything. I’ve cashed in over $4,000 in coins a couple of times” Reddit user tinyhousebuilder said.
You can often find coin counting machines in front of grocery stores or in supermarkets.
The most popular machine is Coinstar (which also lets you exchange your gift cards for cash instantly).
A Coin Star machine can count up to $3,000 worth of coins.
The way it works is simple…
…you pour in whatever change you want to exchange for cash and the machine counts it. Once it’s done, it will give you a voucher which you give to the store’s register to claim your cash.
The downside is Coinstar’s fee is 10.9%.
However, you can usually avoid that fee using Coinstar’s gift card feature. Instead of getting cash, you can claim gift cards from major companies such as Amazon, Starbucks, and BestBuy.
When you redeem a gift card, instead of cash, the machine will print a receipt with your card number on it.
Coinstar Locations Near You
Listed below are the main locations you can find a Coinstar machine.
Grocery Stores
Supermarkets and Major Stores
If you don’t have any of these stores near you, you can check Coinstar’s website here to find the nearest machine.
Other Ways to Cash in Your Coins
If you don’t want to use a Coinstar, there are other options.
Some banks offer free coin counting services. However, they usually have more requirements than using a Coinstar.
Often times, if you don’t have an account, the banks will either refuse to exchange the change or they will take a cut of the money.
Some banks may require you to roll into paper rolls yourself before they will accept. While there are machines that will roll your coins for you, they tend to be expensive.
Where To Cash In Coins For Free
What banks have free coin counting depends on the banks near you.
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Many times, a bank will have different policies than what’s advertised on their national site. It’s recommended you contact a bank first before bringing change in, so you can figure out the steps they’ll want you to take.
Here are some banks that openly provide coin counting services:
- U.S. Bank will exchange their customer’s change for cash without any fees.
- Wells Fargo has been removing their coin counting machines, but they still accept rolled coins from customers. However, they won’t accept rolled coins from non-customers.
- Citibank requires coins to be rolled and may charge fees depending on which state you are in.
- Credit Unions often provide coin counting services, but their requires will vary between businesses.
While it may take some research before cashing in your coins, it’s definitely worth the effort.
In this economy, every penny counts, especially when you can turn that change into cash.