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Getting rid of your old coins

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    #32
    rubadub
    Registered Users Posts: 32,378 ✭✭✭✭rubadub


    Mousewar wrote: »
    Pretty sure the machines in Tesco print a voucher but that they'll change it for cash at the till if that's what you want.
    Any machine I have ever seen in tesco takes a commission. The sign is quite misleading as it offers to give you a voucher that you can cash in, your a voucher you can use on groceries. Many wrongly presume that the voucher to be used only in tesco would have no commission (why else would you go for it). But in all cases I have seen or heard of they take commission.
    rubadub wrote: »
    It is an utter fu*king disgrace that the central bank do not offer a free coin counting service. We are paying a fortune every year to mint or buy in new coins from abroad. All these coins are hoarded, and I can not blame people, the machines in shops are ridiculous, taking ~10% each time. These machines are just basic coin-op mechanical devices, people are lashing in €500 at a go and charged €50! while the cost of a go on a mechanical kids machine or photo machine is pittance.

    In the 80s mcdonalds would give you free burgers if you brought in £5 in change, superquinn gave donuts.

    The central bank is pissing money down the drain when all they need is a few machines costing a few grand instead of this extreme waste of money minting new coins. Not to mention the huge associated costs to the environment.

    Banks should offer the same service too. Supermarkets could too, stick in €100 worth of coins and get a €100 voucher only usable in that shop. I am truely shocked there is no such service now, when there was in the 80's. Tesco brought in machines and it appeared like you did get vouchers, you did get them but I think they still took 8% of your money and then forced you to shop there with the rest! (but did offer cash, I presumed cashing would take a %, but vouchers would not.)

    No doubt the supermarkets are in cahoots with these apparently third party machines, and cleaning up. Some supermarket could cop on and make a killing, I know loads of people with stashes of coins who refuse to pay the crazy % fees fleeced by these companies.


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    #33
    Mousewar
    Registered Users Posts: 2,741 ✭✭✭Mousewar


    rubadub wrote: »
    Any machine I have ever seen in tesco takes a commission. The sign is quite misleading as it offers to give you a voucher that you can cash in, your a voucher you can use on groceries. Many wrongly presume that the voucher to be used only in tesco would have no commission (why else would you go for it). But in all cases I have seen or heard of they take commission.

    It has a whole screen explaining that it's taking 9% commission from you and you have to press a button to proceed. It couldn't be less misleading.

    Ultimately, It took €1.70 or something from me. More than happy to pay that to spare me the effort of counting them myself. Although I may pursue using the self-service machines in future but would still feel a bit scabby doing so.

    To be honest, I really don't see the point of anything lower than a 10c coin. They should get rid of the coppers.


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    #34
    Capt'n Midnight
    Moderators, Recreation & Hobbies Moderators, Science, Health & Environment Moderators, Technology & Internet Moderators Posts: 90,855 Mod ✭✭✭✭Capt'n Midnight


    Mousewar wrote: »
    They should get rid of the coppers.
    Alan Shatter is working on it.


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    #35
    Mousewar
    Registered Users Posts: 2,741 ✭✭✭Mousewar


    Capt'n Midnight wrote: »
    Alan Shatter is working on it.

    I see what you did there.:D


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    #36
    gobnaitolunacy
    Closed Accounts Posts: 3,073 ✭✭✭gobnaitolunacy


    SeanW wrote: »
    Go to Tesco in the quieter hours of night.

    Buy lots of necessities.

    Go to the self checkout machines.

    Pay with your coins

    /thread

    Does it take 1c and 2c coins? I find a lot of vending machines just reject the sh*ttier coinage.


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    #37
    rubadub
    Registered Users Posts: 32,378 ✭✭✭✭rubadub


    Mousewar wrote: »
    It has a whole screen explaining that it's taking 9% commission from you and you have to press a button to proceed. It couldn't be less misleading.
    Many find it misleading, I have gotten into arguments over it with people, I know several people who thought the voucher was commission free, this is in real life. On boards there have been a few threads about it,

    http://www.boards.ie/vbulletin/showthread.php?t=2055566445

    I am pretty sure in some threads I have seen people saying there were certain there was no commission.
    E30i wrote: »
    Has anybody used one of the Coin Changing machines in Tesco Ireland Stores. They charge a commission of about 9.6% for getting the cash value. However the machine instructions outline that you can 'Redeem the full value against your shopping at any Tesco store'.

    I recently changed coins to the value of €117.06 (Penny Jar)in one of these machines. This gave a cash value of €106.06 after commission. I fully understand the commission structure leading to this cash value.
    However I understood from the instructions on the machine that I had 2 options
    1) Redeem the full value against your shoping at any Tesco Store
    or
    2) Exchange for cash at the Customer Service Desk.

    Given the use of the word 'full' in option 1 (and repeated on the voucher I received) I had the expectation that I could use the €117.06 value against my shopping.

    And another thread
    Chiparus wrote: »
    Brought the bedside jar of coins to Tesco, where they have a coin machine. It said quite clearly exchange the "full value against tesco shopping" however they took 9% ( 10 euro) and refused to exchange the full value against my shopping bill.

    Is there anything I can do?

    Coinstar refunded one of those guys his commission too, after they complained.
    gobnaitolunacy wrote: »
    Does it take 1c and 2c coins? I find a lot of vending machines just reject the sh*ttier coinage.
    it does take them, it can only do so many at a time. If you throw loads in it spits them all out. I often take a fistful of coins to tesco at night, if you come up short you can pay the remainder with CC. There is a green light that comes on when it is ready to take more coins.


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    #38
    AnonoBoy
    Closed Accounts Posts: 22,559 ✭✭✭✭AnonoBoy


    gobnaitolunacy wrote: »
    Does it take 1c and 2c coins? I find a lot of vending machines just reject the sh*ttier coinage.

    They take everything.


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    #39
    gobnaitolunacy
    Closed Accounts Posts: 3,073 ✭✭✭gobnaitolunacy


    AnonoBoy wrote: »
    They take everything.

    Good-o.


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    #40
    Capt'n Midnight
    Moderators, Recreation & Hobbies Moderators, Science, Health & Environment Moderators, Technology & Internet Moderators Posts: 90,855 Mod ✭✭✭✭Capt'n Midnight


    AnonoBoy wrote: »
    They take everything.
    the commission isn't quite that high


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    #41
    ScumLord
    Registered Users Posts: 28,789 ✭✭✭✭ScumLord


    seamus wrote: »
    I do this every so often, it takes about 20 minutes and usually yields around €200 in coins. It's probably the most profitable thing I do with my own time, ever.
    It's quite enjoyable and you smell like money afterwards.
    danniemcq wrote: »
    to quicky count the money get a digital weighing scale.
    Never mind them new fangled digital things. I use my old school digits to count it all out.

    If you just count it into stacks it takes no time. Unless you draw it out over the course of an evening, pretending the stacks are high rises and you're building a money city.


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    #42
    AnonoBoy
    Closed Accounts Posts: 22,559 ✭✭✭✭AnonoBoy


    seamus wrote: »
    It's probably the most profitable thing I do with my own time, ever.

    Seamus you are so wise so I'm sure you know this already.... but, it's not profit because the money is already yours!


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    #43
    ScumLord
    Registered Users Posts: 28,789 ✭✭✭✭ScumLord


    AnonoBoy wrote: »
    Seamus you are so wise so I'm sure you know this already.... but, it's not profit because the money is already yours!
    I think you've caught Seamus out, it's clearly someone elses money jar.


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    #44
    Capt'n Midnight
    Moderators, Recreation & Hobbies Moderators, Science, Health & Environment Moderators, Technology & Internet Moderators Posts: 90,855 Mod ✭✭✭✭Capt'n Midnight


    ScumLord wrote: »
    Unless you draw it out over the course of an evening, pretending the stacks are high rises and you're building a money city.
    and then Godzilla arrives



    https://www.youtube.com/watch?v=o7gFlSGXt_k


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    #45
    tunedout
    Banned (with Prison Access) Posts: 448 ✭✭tunedout


    You could pay your tax fine with them.


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    #46
    Freddy Smelly
    Registered Users Posts: 980 ✭✭✭Freddy Smelly


    use them to pay your property tax

    lol all in 1c coins


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    #47
    seamus
    Registered Users Posts: 68,317 ✭✭✭✭seamus


    AnonoBoy wrote: »
    Seamus you are so wise so I'm sure you know this already.... but, it's not profit because the money is already yours!
    Of course it's profit. While it's sitting in the jar, it's unrealised equity. Worthless. Like my house, only not so much.

    Counting the money makes it realisable, therefore it is profit, since before it was counted, it was worthless.

    Banking economics 101. Look it up.


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    #48
    Capt'n Midnight
    Moderators, Recreation & Hobbies Moderators, Science, Health & Environment Moderators, Technology & Internet Moderators Posts: 90,855 Mod ✭✭✭✭Capt'n Midnight


    tunedout wrote: »
    You could pay your tax fine with them.


    http://www.guardian.co.uk/technology/blog/2012/aug/29/apple-samsung-trucks-nickels-fake


    Then again they could pay in dollar bills as they are legal tender
    A pile of one Billion dollars is already almost 8m tall, about 17m long and 10.5m wide. A single stack of this amount would be higher than 110km or more than 67 miles.

    http://www.duvet-dayz.com/assets/post_img/w20080324/1Billion.JPG

    $100m mostly in $100 bills
    http://www.dailymail.co.uk/news/article-470871/So-thats-100m-looks-like-US-displays-largest-drug-cash-seizure-world-seen.html


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    #49
    Ruu
    Closed Accounts Posts: 9,622 ✭✭✭Ruu


    I count them into piles and pretend that I'm Scrooge McDuck.


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    #50
    Capt'n Midnight
    Moderators, Recreation & Hobbies Moderators, Science, Health & Environment Moderators, Technology & Internet Moderators Posts: 90,855 Mod ✭✭✭✭Capt'n Midnight


    seamus wrote: »
    Of course it's profit. While it's sitting in the jar, it's unrealised equity. Worthless.
    It's more valuable as a trading token than it's monetary value


    Take more than $5 worth of 1c or 5c coins out of the states and you could be looking at 5 years in prison


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    #51
    Rjd2
    Registered Users Posts: 12,021 ✭✭✭✭Rjd2


    Thanks for all the replies lads, been counting them on and off all day, over 200 quid so far, and no 1 euro coins yet! :P

    Knackered though:(


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    #52
    Mint Sauce
    Registered Users Posts: 29,294 ✭✭✭✭Mint Sauce


    Rjd2 wrote: »
    Dunno if their has been s thread about this recently, probably has, feel free to lock mods if so.

    Anyways I have a sweet jar of coins, I want to get rid of and get some money, where should I go to convert the coins?

    Tesco has coin counters machines but I think you can only convert that into Tesco Vouchers.

    Try paying a hooker in vouchers:D

    Appreciate any feedback.

    No not at all.

    :rolleyes:

    Pretty much what everbody else said.

    ;)


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    #53
    Chemical Burn
    Closed Accounts Posts: 545 ✭✭✭Chemical Burn


    Rjd2 wrote: »
    Dunno if their has been s thread about this recently, probably has, feel free to lock mods if so.

    Anyways I have a sweet jar of coins, I want to get rid of and get some money, where should I go to convert the coins?

    Tesco has coin counters machines but I think you can only convert that into Tesco Vouchers.

    Try paying a hooker in vouchers:D

    Appreciate any feedback.

    Tesco has a coin counter, yes, you will be charged 10% or thereabouts and have a receipt to that value, however, you can take this to the till in tesco and get money to the value.

    Alternatively, you can buy your groceries in tesco. The self service tlls have a hopper to count your coins, you are NOT charged a percentage for this.


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    #54
    dxhound2005
    Registered Users Posts: 20,734 ✭✭✭✭dxhound2005


    Rjd2 wrote: »
    Thanks for all the replies lads, been counting them on and off all day, over 200 quid so far, and no 1 euro coins yet! :P

    Knackered though:(

    I hope you will give up the coin hoarding habit. It is a waste of time and sometimes money.


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    #55
    Rjd2
    Registered Users Posts: 12,021 ✭✭✭✭Rjd2


    dxhound2005 wrote: »
    I hope you will give up the coin hoarding habit. It is a waste of time and sometimes money.

    Oh god yeah, learned that hard way, just laziness really, not to get rid before and I am not exactly loaded which makes it even sillier. :o


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