Man cashes in $13,000 in pennies at coinstar.

[slamdunkpro]

One of the Washington DC local new channels did an expose on Coinstar about a year ago after one of their reporters dumped a bunch of change at one then got a bill from the store saying that the Coinstar paid him $200 too much and they’d like it back please, right now.

They took $500 in $100 batches (hand counted) of mixed change to 5 different Coinstar machines. The results were that none of the machines counted the change correctly. They all shorted the person by as much as 20% (on top of the 8.9% fee)

[Cased Heel]

Get your lil' sis to help. Or whatever. Pay family members to help you. You should be able to save up to 50% by doing this (and you get to 'spend time' together while doing it).

Don't pay CoinFu.ckingStar. To think, some a$$wipe makes 8% off of adding coins? Biggest rip-off in the nation.

I'd rather use elbow grease and keep from donating to a jerk-off than be lazy and pay for a new pair of shoes for some jerk-off.

[BruinEric]

[ QUOTE ]
[ QUOTE ]
If banks have these machines then why the hell would coinstar exist? They'll take 53 pounds of change?

[/ QUOTE ]

Why do check cashing places exist? Because people are dumb and lazy.

[/ QUOTE ]

From my understanding, the primary market for check-cashing places is people who don't have a bank account and live essentially on a cash basis.

This does not contradict your "dumb and lazy" conclusion, but it's more than just these things. The majority customer for these here in my area of the country are the significant number of illegal workers (who often fear a paper trail and/or have limited ID.)

Here's an intersting twist on check cashing: One day I drove to a local manufacturer or outdoor bricks (faux stone facings) to buy some material for our hardscaping project.

All at one time, a 100 workers came out on break all dusty and grimy from work holding their paychecks. They lined up in queue to a white truck with bars on it. Some left the truck with ice cream bars and others left stuffing cash into their pocket.

Finally, I figured out that this entrepeneur was running a combination mobile check-cashing service and ice cream truck business. He obviously stops at this site at the same breaktime every payday. I have no idea his vig, but it was a fascinating business idea -- except for the side bonus of being a huge robbery target of one of your customers or customer-accomplices.

[astroglide]

that is one sweet idea

[Lottery Larry]

That probably cost him about $400-600

[CORed]

[ QUOTE ]
Illegal

But with the cost of copper it might be better to take it to a scrap and salvage place.

rJ

[/ QUOTE ]

Pennies have been made out of copper plated zinc since 1980-something. This was done precisely because the value of the metal was more than the value of the coin.

[Lottery Larry]

why doesn't this surprise me?

[A_C_Slater]

There are no Commerce banks in southeast Michigan. I've contacted five different bank branches and they've all told me that they don't have change converting machines.

Those damn coinstar rip off artists!

[lapoker17]

Sounds like a pretty high-level negotiation.

[A_C_Slater]

The have the change conversion market cornered!

There must have been a hostile takeover by the coinstar people in the last few months and that's why there's no "rake free" machines around anymore. [img]/images/graemlins/mad.gif[/img]

20%!!

I kill them before I give 20 friggin percent!! [img]/images/graemlins/mad.gif[/img]

And I kill whole world before I roll 53 pounds of change!