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Not sure if this is the correct forum for this, if the mod wishes to transfer it to a better location, fine!
In the past, when I have a lot of spare change to be converted to dollars, I've blindly put jars of coins into these machines, trusting their accuracy, and yes, I understand the 10.9% fee.
The other night, given I have separate containers for my nickels, dimes, quarters, pennies, I decided, as an experiment, to count out all the coins, and I came up with $98.65. And, I used to be a bean-counting accounting clerk, so you can trust my accuracy, down to a penny or 2.
I went to the store, and put the coins through and their total came up to $92.19, $6+ short of my total, and then there was the 10.9% fee.
And who can you turn to, to dispute the accuracy? Would anyone even believe you?
And what are your other choices today, as banks are averse to taking coins, along with many merchants!
Skimming a few cents here and there is not a big deal. The banking industry has been able to skim trillions from the unintelligent plebs, so bravo for Coinstar doing it on a much smaller scale.
The machines may have to be calibrated by a state or federal entity. Like fuel pumps have to be calibrated. You can call the company and tell them the machine short changed you.
I would go look at the machine. There may be a please call this number if the machine nmalfnctions of a this machine is calibrated by the office of weights and measures or US treasury.
Also, check the rejected coin slot for any returns and look down the tray and chute to make sure coins are not stuck in the hopper. I have tried that experiment myself but unfortunately, no matter how diligent I am, I never come up with the exact same total after counting. So, if I can't say with any accuracy that it was precisely $X, I can't say with any accuracy that I was shorted one cents or one hundred dollars. Anyways, for me I always use their "Donate to Charity" function so what it is, is what it is.
My bank used to have a coin machine for account holders to use for free. If not an account holder then they took 5%.
That coinstar machine just cost you 16%+
The last time I used a coinstar it was at my local grocery store and I was able to get full face value from a myriad of different gift cards I could choose from.
I roll my coins up myself. I've never had a problem with the banks not taking them. I would never use a coinstar machine. They are a ripoff by definition.
I have never used one, but as for anyone "believing you," you could have someone video you counting it out then video the same coin lot driving to the bank with you all the way through redeeming it. Might be a long video but not much effort if you just do a stand still close up for all the counting.
I disagree with people who say it's not a big deal. It's the principle!! Companies (and people ) should do what they mean and mean what they say.
I have years worth of coins I have been planning to exchange for a no fee Amazon gift card. Some are pretty filthy. We're talking throwing into a cup (now several cups) for years. No way I would give up 10+% percent though.
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