On the Accuracy of CoinStar

Published on February 16th, 2006 - 10 Comments
Filed under: Miscellany
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10 Responses to “On the Accuracy of CoinStar”

1. 1
   Jose Says:
   February 16th, 2006 at 12:42 pm

   Good machines.
   I still handle it the old fashioned way: I try to spend my coins even if I have to pay $5 in quarters. Most clerks need coins anyway.

   And I roll up any remaining coins myself and bring them to the bank. I guess I just love counting money.

2. 2
   mapgirl Says:
   February 16th, 2006 at 6:19 pm

   I generally don’t pay in cash so I have fewer coins than most. And if I do, I try to give the cashier exact change. Since I still have to hoard quarters for the laundry machines in my building and the parking meters when I go out, I don’t find Coinstar to be appealing.

   I just looked at their website. The only thing that would make sense for me to get from their gift cards is Starbucks. And I’m not sure I’ve got enough in change to buy one latte there!

3. 3
   Damian Says:
   February 21st, 2006 at 3:42 pm

   Hey, honestly you dont have to get a gift card or pay the coinstar fee. Local banks let you use these machines for free, notably Commerce Bank, which has had locations popping up all around me in the northeast. You just use it for free, absolutely no strings attached. You don’t even need to be an account holder.

   Cas is a much better option than gift cards.

4. 4
   Mike Says:
   October 28th, 2006 at 10:26 pm

   Personally, I want to buy songs from iTunes. If I were to use coinstar, I would be able to get the certificate right away and be able to cash it in iTunes immediately. Coinstar is a good idea for anyone who hates loose change. Coinstar is a bad idea for anyone who is a real penny pitcher. The Amazon card is the best deals in my oppinion. You do not get the 10% discount, and you can get almost anything from Amazon.com

5. 5
   WearyTraveler Says:
   October 29th, 2006 at 11:43 am

   I usually use paper when I buy something. I pocket the change and will use paper on my next purchase, even if I have some change in my pocket. I empty my pockets each night into 4 plastic containers.

   When they get full, that’s my “mad” money. I once used frequent flier miles, loyalty hotel points and spare change to take my kids to California.

   I know that doing so is losing interest, dividends and whatever gain investing could get me. But, I’m much more likely to spend this “mad” money and enjoy myself (I also invest heavily on my 401, brokerage and 529)

   I used to roll my own and carry the rolls to my Citibank branch They didn’t and still don’t, have coin counters available for customers (one of the many minor reasons for me looking elsewhere – after 12 years).

   Chevy Chase has a free, no obligation, coin counter. I’ve yet to use it, but I’ll be heading there soon.

6. 6
   Mark Says:
   January 13th, 2007 at 12:18 pm

   I just had a coinstar machine undercount me by at least $6! It failed to count most of the dollar coins that I KNOW I put in.

7. 7
   Alys Says:
   February 20th, 2007 at 1:51 am

   I don’t if there are any near you, but some Chevy Chase bank branches have coin counting machines that you can use without charge. You take the receipt from the machine up to the counter, and they give you cash.

8. 8
   Tammy Says:
   July 3rd, 2009 at 2:14 pm

   I counted out all of my change and was going to take it to the bank and my husband threw a fit, because they wanted us to roll the coins. So we went to a Coin Star machine. I know that I had an even $38.00 dollars and all that I was given was $33.80 and after they took their cut from that I received $30.79. That is a $4.20 difference, which makes their profit $7.21 and that is not 8.9 cents on the dollar! I guess most people don’t count or know what the amount they are putting in these machines and there for they do not know that they are getting screwed!!! Of course the address that they give is, http://www.coinstar.com and it doesn’t work so you can not complain. As for me I will let everyone that I know that these machines are a rip off!!!!!

9. 9
   danny Says:
   January 1st, 2010 at 9:22 pm

   have you ever thought that maybe you miscounted!! how good is your math?? I have been to 3 of them and they are very accurate!!!! I will let everyone know that they are very very accurate!!!!!!!!!! ba-bye

10. 10
    danny Says:
    January 1st, 2010 at 9:27 pm

    oh and yes there is a contact us in the tabs above in the website!! So I am wondering how good your reading is also…You were a little harsh about them so I have to be harsh with you even though I dont know you, just like you dont know them!!!