I always thought this was a ridiculous idea for a company. I mean, who would actually pay for something they can easily get free? Can't you just go to a bank or grocery and get change for free? Next thing you know, people will be paying money for tap water!
Convenience of course. Some people don't want to wrap up and count all their money. Some banks offer coinstar or other similar service for free. In addition, you can get your coin money in the form of a gift certificate (i.e. , Amazon.com) and you don't pay a fee.
Its not ridiculous when you think of the time and work involved in counting the coins, placing them into wrappers and giving to the bank. That can take many hours. Over a two year period, I collected a large paint bucket of coins. The time and effort to place the coins in wrappers, organize, and present to the bank would not have been worth my time. I simply weeded out the quarters and sent the dimes, nickles and pennies to the coinstar machine. I didnt lose any money from the experience because it would have cost me more in time and effort through the old fashioned process. The quarters, btw, I used to get coffee and other small things. The pennies, nickles and dimes would not have been practical to take to the dunkin donuts.
Ummm the machine doesn't give you change. You dump your change into the machine and you get $$$. I have used this one time. I had a buckets worth of change and got some $40?? back and paid a buck or two whatever it was it was worth the convenience. The machine was in my local supermarket.
Is this a joke.. why is there so many pumpers in this forum like Port1385. Hey how's your FNM trade buying since $30? what a joke.. daily closing got rejected 200ma .. not to mention divergence on the daily.
Coinstar is the wave of the future in this depression. Lines of people at my local market throwing coins in this thing.
unless you sort as you go or have one of those personal coin sorters that essentially does what Coinstar would....it's not bad for the time savings....