Counting change

I’ve long used the technique of saving pocket change to pay for stuff I want, but don’t really need. The problem has been turning that big pile of change into a form that merchants will accept.

The problem with the Coinstar machines in the supermarket is that they take a cut, sometimes as high as 10 percent.Some banks and credit unions will process the change for customers for free. The problem is finding which ones will.

I now have two answers. Kansas City-based Commerce Bank will, but only at certain locations. You’ll have to call your local branch.

My wife banks at US Bank. When she called and asked the same question, they said they’ll process the change for free and deposit it straight into the checking account.

That’s just two answers, but two answers is better than a big pile of change sitting on a dresser doing nothing. It’s always best to get the money into an institution as quickly as is convenient, where it can work for you, either by paying bills (your mileage will vary, but paying just an extra $10 per month on my mortgage cuts a full month off the payment schedule) or drawing interest, however miniscule it might be. It’s better for your quarters to be gathering pennies than for them to be gathering dust.

2 thoughts on “Counting change

  • June 20, 2005 at 4:55 pm
    Permalink

    "My wife banks at US Bank."
    Congratulations!
    I had been wondering if you had joined the ranks.

  • June 21, 2005 at 6:42 am
    Permalink

    Yes, that’s a change worth counting. Congratulations. With the young lady’s permission, we’d appreciate getting to know your family a little better, too.

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