Coins

CheltenhamJ

We have a lot of coins saved over last few years . Hopefully a couple of hundred euro. Will bank accept them or will there be charges ? Do they use those coin bags of old ? I want to avoid paying 10 per cent to those machines, any help appreciated ?

A0

Donate to Boards.

Mary28

If you have it counted for them and in bags then you should be able to just lodge it to your acc for free. Those bags are free still I think.

Mint Sauce

Mary28 wrote: »

If you have it counted for them and in bags then you should be able to just lodge it to your acc for free. Those bags are free still I think.

Correct, but some banks, including BOI, will only accept bagged coins at certain times and days now.

Tesco self service machines accept them. Take a handful at a time.

Hownowcow

Banks will accept them, provided they are correctly counted and bagged, however the terms on which they accept them may vary.

In the bank I use, standard bank charges apply to the lodgement. At one stage you could bring in the bagged coins and the bank would give you notes in return at no charge, but I don't know if this still happens.

Ted_YNWA

I have taken €100+ in bagged coins into AIB & Ulster Bank in the past & lodged straight into account for free.

hawkelady

Put in all in a bag .. Strut down to your local bank and put it towards 5 apartments in Bulgaria , you'll have the 5 keys within half Hour. Simples.....


Oh sorry , I thought this thread was 6 years old.

kneemos

Post office you're man.

CheltenhamJ

Tks all

kneemos

Think I saw somebody in Dunnes pawn off a bag of coins one day now that I think of it,cashier threw it on the scales,not a bother.

The Backwards Man

Most local shops will bite your hand off for them.

barneysplash

Can I recommend your local Credit Union? No fees involved in lodgements.
You have to have the changes sorted into bank bags, read below
for my method.

I have a savings tin I put any spare change into when I come home from
work and empty my pockets.

Because I empty this tin every few months, and hopefully will be for several years
to come, I have bought a counting frame. It is a Helix CE2020:

http://helix.co.uk/product.php/617/218/ce2020---coin-counter-tray---note-holder--euro-

Every few months, I pop on the telly and empty the tin onto the coffee table.
I count up the €2, €1, 50c, 20c and 10c into the frame and bag up as I go along.
The trays are also removeable, so you can divide the work between several people,
and have a nice chat and cup of tea while you count.

The counting tray is very handy, you can use it if you run a small business
like a stall or an event in a pub, or are helping out at a charity event, like a car-boot
sale or summer fête (that's a lovely word)

Playing shop with my niece is also fun and she can get an appreciation for real money
management.

I don't count up the 5c, 2c and 1c coins, this is too time consuming
and usually adds up to a small amount compared to the quick work
you can do with the high value coins.

I put these back in the savings tin, and leave them to build up. After a while,
I do a regular count of high value coins into bank bags, and I take all the "coppers"
to the CoinStar machine in Tesco. You pay a comission, 9% I think, but it's an
acceptable cost compared to the work and time you'd have to invest to sort the low
value, high volume coins. I tried to count these using my frame,
but it took ages to get enough to fill a bag. I would not like to have to count coppers
without a frame, it would be even more annoying. They build up fast and can take up
a lot of space where they can easily get knocked over or mixed up.

Whatever method you use, get a good strong fabric bag to put the sorted
bags into for transportation to the Credit Union or Bank. A shopping bag,
even a heavy, posh one from M&S could give way under the strain of your loot.

If you find any unusual coins in your stash, and want to know more, drop by the
Collectibles & Antiques forum for a chat.

Happy counting

Capt'n Midnight

AFAIK the central bank still take the old pound and pence coins

leinster_fan

Best method I've found for counting the 1c, 2c & 5c coins is to weigh them.

You count out €1 or whatever is supposed to go in a bag, and then weigh them on a digital kitchen scales.
Then you can very quickly weigh out that amount for each bag.

Very quick, and no commission to pay to anyone!

shruikan2553

Dónal wrote: »

Tesco self service machines accept them. Take a handful at a time.

Be careful with them, I tried to do this and it was too much for the machine. They aren't designed to take 40 euro of coins in 1 transaction.

I've been bagging them up and plan to either lodge them into my account or see if any shops I visit often are interested in them.

barneysplash

leinster_fan wrote: »

Best method I've found for counting the 1c, 2c & 5c coins is to weigh them.

You count out €1 or whatever is supposed to go in a bag, and then weigh them on a digital kitchen scales.
Then you can very quickly weigh out that amount for each bag.

Very quick, and no commission to pay to anyone!

I tried that, it didn't work for me. Digitial kitchen scales are not accurate enough
to differentiate between the tiny increases in weight involved in copper coins.
It took me ages to realize this. To see what I'm on about, get a few 50c coins,
and weight them one after the other. You should see differences
in their weight because the scale is not calibrated to measure such small amounts.

Or maybe you have an accurate scientific or financial digital scale? If so, fair play,
I was using a good Salter brand digital scale, and could not get accurate measurements.

Anyway, bank bagging copper coins is very time consuming, I just pour the whole
lot into a coin counter and pay the comission.

CruelCoin

CheltenhamJ wrote: »

We have a lot of coins saved over last few years . Hopefully a couple of hundred euro. Will bank accept them or will there be charges ? Do they use those coin bags of old ? I want to avoid paying 10 per cent to those machines, any help appreciated ?

Do you shop at tesco?

Coin machines there accept at 0% charge for vouchers for the place.

I'd rather if it were lidl/aldi, but meh, empties the coin jar.

Alternatively, mount a passive agressive protest at those stupid unmanned checkouts by paying in coins. Takes ages, annoys everyone.

danniemcq

banks don't take them at the counter, you might have to go into the business section as they have the coin scales in there.

Fr_Dougal

CruelCoin wrote: »

Do you shop at tesco?

Coin machines there accept at 0% charge for vouchers for the place.

I'd rather if it were lidl/aldi, but meh, empties the coin jar.

Alternatively, mount a passive agressive protest at those stupid unmanned checkouts by paying in coins. Takes ages, annoys everyone.

I think there was mention of the 0% charge for vouchers before and it was found to be incorrect or misleading, from what I can recall you still pay the 9-12% commission.

Capt'n Midnight

You don't put coins in the voucher machine :rolleyes:

You bag them for the bank, or you use them in the self service tills

Or give them to charity

Bring them to an amusement arcade. No charge.

CruelCoin

Capt'n Midnight wrote: »

Or give them to charity

Why?

The recent-ish thread on 80% administration fees for most charities put paid to my ever doing that again.

dublinman1990

I have loads of 1c, 2c and 5c coins at home right now which have accumulated for the last month or two.

If they weren't counted, How much would BOI charge for these at the current rate?

They are stored in a little storage holder in a shape of a train which I had since I was a kid. It takes a lot of time to count them up though, probably 1/2 an hour or so to count them all.

I have foreign coins as well which are mainly from Arabian countries, America or The UK. But I usually keep those myself.

danniemcq

dublinman1990 wrote: »

I have loads of 1c, 2c and 5c coins at home right now which have accumulated for the last month or two.

If they weren't counted, How much would BOI charge for these at the current rate?

they won't take them unless they are bagged and counted by you. they only weigh them to confirm that its what you gave them.

Count all the coins 10c and higher yourself and dump the rest into the change machines for a 9.5% fee, you'd be surprised how little you will have in the grand scheme of things and losing 9c for every euro really isn't bad when its coppers.

Fox Mulder

I recently lodged €150 in coins into a BOI account and there where no fees to be paid. The problem is though that the bags they give you need to filled to quite high values. For example for €1 or €2 coins you need to fill the bags to fifty euros in value or for 50 cent coins you need €25. So after your done sorting your coins you'll find that you still have a significant amount of change that you can't lodge because you don't have quite enough to fill the bags.

Out of principle I never use the coin machines that charge a fee as it is basically extortion. Coins are always worth more than their face value.

Sergeant

Become a Dublin Gaelic Football supporter and throw them at the heads of visiting culchie goalkeepers while standing on the Hill.

kneemos

Sergeant wrote: »

Become a Dublin Gaelic Football supporter and throw them at the heads of visiting culchie goalkeepers while standing on the Hill.

"Visiting goalkeepers"says it all.

ElleEm

I save all coins under 50c in a big bottle, and count them every few months. I usually get about €30 or €40 out of it. I usually lodge/ exchange it in AIB. Haven't tried BOI since the stupid changes to when they will accept it or not. Seriously, they are a bank with stipulations about when you can lodge money?! F*cking ridiculous!

On a side note, counting all the coins can be so therapeutic. I love sorting through them. Although it's shocking how dirty your hands get after touching the coins. Reminds you of all the dirty [EMAIL="b@stards"]b@stards[/EMAIL] who have handled them before you!

FloatingVoter

I lodged about €800 in coins to my current a/c (AIB Dame St) in the business section upstairs. Get the bags from the bank. Count and bag them (took me about 10 hours over 5 days). Thats the tedious part. Theres no charge but I'm never letting it build up like that again.

Ruu

Count them all, stack them and then pretend you are Scrooge McDuck.

Capt'n Midnight

Man Pays €60 Motor Tax Fine With 6,000 1c Coins
https://www.boards.ie/vbulletin/showthread.php?p=84801334#post84801334