Chances are you have a big jar of coins stashed somewhere in your home. You keep meaning to do something with it, but the coins just keep accumulating. Now is the time to do something about it and get cash for coins!
The United States Mint has released several statements recently encouraging consumers to spend their coins. Due to the COVID-19 pandemic, coins have not been circulating as much as they normally would.
This has led to retailers and small businesses having some difficulty accepting cash payments, which is a problem for those people who primarily – or exclusively – use cash.
To help out, it’s time to get those coins back into circulation. And you’d be surprised how quickly the value of those coins can add up! Turn them in for cash and get some money to pay off debt, spend, or save.
Places to Get Cash for Coins
You have several different options of places to get cash for coins. Some are totally free, while some will require a fee that takes a percentage of the cash total. Peruse this list and see what works for you.
1. Your Local Bank or Credit Union
The easiest way to get cash for coins is to check with your local bank or credit union to see what they can do for you.
There are so many variables to consider that it’s impossible to round up all of the different options here. Just make a quick phone call to ask. You could also try browsing their website to see if that information is listed.
Banks and credit unions may have a coin-counting machine, or you may be asked to bring in rolled coins. (Loose coins are usually preferred if they have a machine.)
Coin counting may be limited to members only, or available to non-members with a fee. Recently, a few banks have even offered bonuses for trading in your coins for cash, considering the national coin shortage.
The smaller the establishment, the more likely they’ll have a free coin-counting machine for your use.
I just contacted my credit union and found out that coin counting is free for members. (We have a free checking account, too – I love my credit union!)
I did find a few larger banks that have coin-counting machines available for members:
- U.S. Bank has 3,000+ branches across the United States, primarily in the Western and Midwestern states. They have coin-counting machines available to customers. Fees may apply. Filter your search by “coin counter” to find locations with a machine.
- Fifth Third Bank has 1,100+ branches across eleven states. They offer loose coin exchange; fees may apply. Filter your search by “loose coin exchange” to find locations where you can get cash for coins.
- TCF Bank has 400+ branches across seven states, including Colorado, Illinois, Michigan, Minnesota, Ohio, South Dakota, and Wisconsin. They have coin machines available at many locations and charge a 0-1.5% fee for customers and a 10% fee for non-customers.