Coppers into hard cash

jo_b_2 · 7 November 2004 at 12:59AM

Slightly off topic, but I wanted to say hello to Merrik. How does it feel to be famous, thanks to Martin's 'Money Diet'?

mumpamela9 · 15 November 2004 at 11:25PM

::)Not sure which heading this should come under - but I've just found the most wonderful way of SPENDING some of those pennies!
I discovered this organisation called 'Good Gifts (https://www.goodgifts.org 020 7794 8000) which works through various charities to send money where it is most needed, and buys a gift direct, like providing a small community in Kenya with a small chicken business, or money for shoes for children in Africa who are at risk of hookworm infestation through their bare feet (£15 buys two pairs of shoes), or the same amount of cash buys a goat for a family - all of our money goes into the gift. The one I like best is buying a hive full of bees for a poor, landless family.
Which of us would really miss that amount of money? Especially when its been tucked away in a box in a drawer or something!
The Good Gifts people send out a little catalogue to choose from, and it would be so nice to know you'd made such a difference to someone, maybe a whole family, instead of putting in a collection box and not knowing if anyone will ever see your money or if it'll all go in admin costs.
Someone get me a soapbox..............

itgirlinuk · 18 November 2004 at 8:14PM

As everyone else, I had a huge bag of coppers. I went to the local bank and they gave me 1p bags and 2p bags. If you sort them out into 1p and 2p and put them into the bag, then the bank (Barclays) would measure them and deposit it into your account.

I need to do this again - got 3 bags filled with these coins.

MimiJane · 19 November 2004 at 1:52AM

Some/most of the banks take a percentage if you deposit your coins with them and don't have an account.

I always use the Post Office, who don't charge anything.

matthwnm · 13 December 2004 at 1:32AM

Very good idea, I never seen these in Asda. Although my nearest Asda is 60+ miles away

Although these seem to be mainly at Asdas we have one in the Foyer of our local Sainsburys too, at Stoke-on-Trent.

The machines I have used allow you to donate your 93% share to charity, or you can choose to have the money. If you take the money you get a printed vocher which can be used for payment or part-payment of your instore shopping, or you can claim the cash by presenting the voucher at customer services desk (not tried this last option yet).

Matthew

scuzz · 19 December 2004 at 8:16PM

Does anyone know how much you can pay into the bank at once without being charged? I've got loads of coppers and 5p's to pay in

johnllew · 19 December 2004 at 9:13PM

the coinstar machines do donate the 7% they take to charity, so at least you are giving a bit more to a worthwhile cause.

I don't think so; they may give a small proportion to charity but I imagine they keep most to cover the cost of the plant, overheads, supermarket cut etc - this is from their website:

Is there a charge to use Coinstar?

Yes. For Coins-To-Cash™ service, Coinstar charges an 8.9% processing fee in the United States, a 9.8% processing fee in Canada, and a 7.5% processing fee in the U.K. For our U.S. customers, this means you'll pay approximately 9 cents for every dollar of coins counted. Our customers tell us they are willing to pay a small service charge for speed and convenience rather than sort, count, roll and carry their coins to a bank.

Does Coinstar offer a reduced fee for non-profit groups?

Yes, Coinstar is happy to offer qualified non-profits the opportunity to apply for a reduced fee. To qualify, non-profits must have 501(C)(3) status and at least $1,800 in change, among other things. Please email coinsthatcount@coinstar.com for more information and the necessary materials to apply for this reduced fee.

I can't imagine why moneysavers would accept a 7.5% cut; I'd rather count it and bank it myself any day.

VickyA_2 · 21 December 2004 at 2:25PM

We put our 1ps, 2ps, 5ps and 20ps into a savings jar. Our bank only takes 3 bags at a time, so whatever we've got a full bag goes. At the moment we're saving up for some of our holiday next year which will be a cottage share in the Lakes with some friends. We're almost there. Anything over will be spending money.....

Coppers into hard cash

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