saving loose change (merged)

-1-

My local Asda has had one for 6+ years.

I've used it in the past for amounts under £100.

I last counted my penny jar Jan 06 when it had £250 in it, no idea how much is in it now, i'll count it when I buy a house and need furniture.

It is tempting to take some out now and again especially the notes, I can see 4 £20 notes now.

Definatley a good idea to keep your small change though it all adds up, my Coke bottle (2 foot maybe) isn't even 1/4 full so when it is full there will be a tidy sum in it.

I never put into a charity collectors box but that's another story...........

GooeyBlob

Surely it would be better to spend your change as you receive it?

Most shops love it when you give them change as tills often run short of certain coins. If I purchase a few items for, say, 4.63 I'll hand over a fiver PLUS the 63p and get a quid back in change.

If you really have to save your change in a jar might it not be better to periodically remove a quid's worth of change from the jar and replace it with a pound coin? That way you'll still get a lump sum to spend all at once and not end up with a jar full of coppers.

7.5% just sounds like a lot if money down the drain. I only wish I could get that as a net rate on my savings!

buckhysen

Sorry if this has been mentioned but I've only read the first few pages of this thread.... I saw the suggestion to take coins to the Post Office. I've done this for years also and they never charge, as stated before they just weigh the bags and exchange for notes.

Another easy and free way, as mentioned above is to simply take them to your local shop.... Shopkeepers will always accept change and once you know one they won't even count them up.

I just bag up all my change once every month or so (So it doesn't take too long) and then every so often I take in about £50 and my local shopkeeper will exchange it for notes. He's always grateful for the change.

I also save a lot of coppers and give to my kids to spend in the arcade whilst we are on holiday.

I don't think there's any reason to pay for exchanging coins... Unless of course you have literally hundreds or thousands of pounds in change and need it changed at the bank.

Stompa

buckhysen wrote:

I saw the suggestion to take coins to the Post Office. I've done this for years also and they never charge, as stated before they just weigh the bags and exchange for notes.

It depends on the Post Office. Mine will only allow you to deposit it into an account, they won't exchange for notes.

jpvic

I pay my credit card bill over the counter with the change I have collected, [sixmonthlyish]

I count all of it myself [think: private frazer dads army :cheesy:]

Never paid anybody or thing, to count my money. :money:

Never had a problem.

sissy_2

Quackers wrote:

That's if all your local post offices are still open - ours have all been closed!

Why not ask in your local shop if they would take your loose change from you? Once its all counted and bagged up of course. Or try your local shopping centre, all you have to do is ask! You have a 50/50 chance. Most stores would be glad of the change I'm sure instead of paying Securicor etc..

katherinemackenzie

I have bags and bags of 1p and 2p coins and it's time to change them or deposit them into my account. However, I don't want to lug them down to the bank only to find they don't accept coins. Can anyone tell me if HSBC branches will accept coins from non-business customers, or whether it's only certain branches or on certain days? I remember a supermarket I used to go to had a big machine that changed coins for notes but took something like 7% fee. Are there other options I should look into? I probably have about £25 worth. Cheers, K.

exel1966

Technically the amount you have is not classed as legal tender but As long as they are pre-bagged and you have an account with the bank there is no reason why they won't change them. Just don't go during the busy lunctime period.
I have deposited up to £4.5K in coinage over the counter at my branch !!!

jonesMUFCforever

exel1966 wrote: »

Technically the amount you have is not classed as legal tender but As long as they are pre-bagged and you have an account with the bank there is no reason why they won't change them. Just don't go during the busy lunctime period.
I have deposited up to £4.5K in coinage over the counter at my branch !!!

I bet you were popular!

katherinemackenzie

exel1966 wrote: »

Technically the amount you have is not classed as legal tender

Seriously, if you have more than a handful it stops being legal tender????