Cashing in spare change often means a few extra dollars, but for some people, it can become a meaningful financial boost. Jeff Stotsky and his husband, Jon Schweizer, regularly fill a 25-gallon water jug with loose coins. Once full, Stotsky brings the change to their credit union and uses a Coinstar machine without paying fees. One full jug earned them about $2,400, helping fund a trip to Disney World.
For anyone feeling the effects of inflation, converting spare change into usable cash can be a practical way to find extra money. Here are the most common options and what to expect.
Visit Your Bank or Credit Union
Many supermarkets have coin-sorting machines, but most charge fees. Coinstar’s standard fee is currently 11.9% of the total, meaning $11.90 is deducted for every $100 counted.
If you use a Coinstar machine located inside a bank or credit union where you already have an account, the fee is often waived. However, not all branches still offer coin-sorting services. Steve Kenneally of the American Bankers Association recommends calling ahead, as only about one in five branches may have a machine available.
If your financial institution does not provide sorting, you can still deposit coins, but you’ll likely need to roll them. Banks usually offer free paper rolls, and coin-rolling machines can speed up the process. Some banks charge nonmembers or limit the amount they will accept, while others, like Wells Fargo, may exchange coins for nonmembers up to a certain limit.
Before visiting, confirm:
- whether you need an account
- any fees for nonmembers
- whether you’ll receive cash or a deposit
- maximum deposit amounts
Find a Coinstar Kiosk
Coinstar operates more than 60,000 kiosks across North America, Europe, and Japan. Major retailers such as Target, Walmart, CVS, and Safeway commonly have machines near store entrances.
Using Coinstar is simple: pour in your change and wait while the machine sorts and counts it. A printed receipt can then be exchanged for cash at the service desk. Most locations limit exchanges to $500 per visit.
The downside is the 11.9% processing fee plus a $0.25 transaction fee. For example, $50 in coins becomes $43.80 in cash. However, the fee is waived if you choose an eGift card instead of cash. Participating retailers include Amazon, Starbucks, Home Depot, Nike, and Southwest Airlines. Limits typically range from $5 to $500 per transaction.
Coinstar machines also allow donations to several charities, including Feeding America, UNICEF, the American Red Cross, and the Humane Society.
Publix Coin Sorting
Publix stores throughout the Southeast offer their own coin-sorting machines. While they charge a 10% fee, it remains lower than Coinstar’s standard rate.
Coin Shortages Still Matters
The Federal Reserve notes that while coin supply levels have improved since the pandemic, circulation remains below pre-2020 levels. Reduced in-person shopping and increased use of digital payment methods slowed the movement of coins through the economy.
Dimes and quarters continue to be in shorter supply, affecting consumers who rely on cash, particularly older and lower-income shoppers. Encouraging people to exchange and spend coins helps keep currency moving, according to industry experts.
Emptying change jars not only supports circulation but may also put meaningful money back into your budget.
