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Post by rabbithounds on May 28, 2008 12:16:09 GMT -5
I was wondering about putting out change jars at businesses and collecting spare change from people. A very nice cover could be made and I have several 1 gallon jars available.
Any thoughts on that?
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Post by Sara on May 28, 2008 12:32:01 GMT -5
I think it's a great idea IF you can get someone to loan you a change counting machine (even the home ones are inadequate in my experience). I recently helped a friend, who's wife was lost to breast cancer a few years ago, organize a "penny wars" campaign in his daughters elementary school. You would think that raising money for the 3day in honor of a young woman who left behind a 3 year old and a 9 month old would be something any business would get behind, right? Well, not exactly. Banks apparently don't accept hand rolled rolls (they have to recount them). Coinstar is an option but collects a hefty fee.
Anyway, I don't mean to dicourage but I was shocked at what a PITA dealing with spare change was so thought I'd throw it out there...
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Post by rabbithounds on May 28, 2008 12:46:31 GMT -5
I spoke to my bank and they said if I brought the rolled coins in small increments ( $100 ) they would accept it. The teller said some of the large banks won't do it. My bank is close enough, I can do this during my lunch time.
;D
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Post by huskiesnhorses on May 28, 2008 12:50:57 GMT -5
I'd take the hit on coinstar and just do it there. Your time is worth something too.
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Post by akoehmstedt on May 29, 2008 8:25:17 GMT -5
My bank accepts rolled coins too. How much is the fee for Coinstar?
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Post by huskiesnhorses on May 29, 2008 9:01:36 GMT -5
My bank accepts rolled coins too. How much is the fee for Coinstar? 8.9% |
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Post by akoehmstedt on May 29, 2008 10:03:35 GMT -5
Yikes! That is quite the percentage!
My 2yr old loves to roll her change from her piggy bank... She'll do it for free!
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Post by oneidea on May 29, 2008 12:19:52 GMT -5
We bank with a local community bank and they don't have any problem taking rolled coins. We have one of those change counters (Brookstone?) and it works ok. We rolled $300+ of coin a few weekends ago and as long as you put a sticker with your name and acct # on the tube, the bank takes it in increments of $100 per deposit without a fee. I would do some calling around and see if you can find a bank or credit union close by to accept the coins first. Call Wells Fargo - they have coin counting machines in some branches... it works just like Coinstar... you dump in your change and get cash without a fee. You can get fundraising boxes with locks here: www.coolplastic.com/Merchant2/merchant.mvc?Screen=CTGY&Store_Code=DSP&Category_Code=FR |
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