Where to cash in coins for free (2024)

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Finding places to cash in coins for free can be a challenge. Many places usually charge a fee for this service, but some companies offer free coin cashing options, which helps you save money.

It’s crucial to research and understand any potential fees or percentages that might be deducted when cashing in your coins, whether you’re considering a bank or a supermarket.

Where can I cash my coins?

If you have coins and want to exchange it for cash, you’ve got a couple of options:

  • Banks and Credit Unions: Many banks, such as Chase, Bank of America, Wells Fargo, Citibank, and others, provide coin exchange services. However, their policies vary – some may require coins to be rolled, while others use coin sorters or may direct you to specific branches for exchanges.
  • Coinstar Kiosks: With over 20,000 locations worldwide, Coinstar kiosks offer cash, e-gift cards, charity donations, and cryptocurrency exchange for your coins. However, they charge an 11.9% fee for cash transactions, while e-gift card exchanges are fee-free.
  • Regional Retailers: Some regional retailers like QuikTrip and Publix may provide coin exchange services, especially during coin shortages, or for a small fee.
  • Using Coins for Payments: Consider using coins directly for purchases. However, check with the retailer in advance as not all businesses may accept coins, especially in larger quantities that might disrupt the cash register line. Retailers aren’t obligated to accept coins as payment, particularly if they lack the resources to handle large amounts or count rolled coins efficiently.

16 Best places to cash coins for free

Below are nineteen places where you can access free coin counting and exchange services:

1. Bank of America

Bank of America allows customers to deposit rolled coins. If you’re willing to take the time to organize your loose change into rolls, this option works well for Bank of America account holders. If you’re already a customer, the bank will deposit these rolls directly into your savings account.

However, if you don’t have an account with Bank of America, they won’t be able to accommodate this service for you. To locate a Bank of America branch nearby, you can use their branch locator tool.

2. Wells Fargo

Wells Fargo offers coin exchange services for both its customers and non-customers. Regardless of your banking status with them, if you’re willing to roll your coins before heading to the bank, you can exchange them for dollar bills. Personally, I’ve used this service by bringing a jar of coins to the bank, where the teller provided me with coin rolls at the counter.

For those interested, Wells Fargo provides a branch locator page, simplifying the process of finding a nearby location for this service, irrespective of whether you hold an account with them or not.

3. US Bank

At US Bank, customers have the convenience of exchanging loose coins without the need for rolling them. Simply bring your loose coins to the bank, where a banker will deposit them directly into your account.

You have the flexibility to either withdraw the deposited cash or keep it saved for future use. This service is exclusive to US Bank customers, offering a hassle-free alternative to the time-consuming coin-rolling process. You can easily locate a nearby US Bank branch offering this service.

4. Citibank

Citibank welcomes account holders to deposit rolled coins, provided they are pre-rolled by the customer. The bank facilitates a convenient process by directly crediting these rolled coins to the customer’s account.

However, it’s worth noting that this service is exclusive to Citibank account holders, and individuals without an account are unable to exchange coins for cash at Citibank locations. For those interested in utilizing this service, Citibank’s location finder tool can assist in locating a nearby branch.

5. Chase

Chase account holders can deposit coins into their accounts to assist with the ongoing coin shortage. While not all Chase branches accept coin deposits, the bank encourages customers to check via the branch locator tool on their website. Branches without coin transaction facilities will have a “No coin transactions” note in their listings.

6. Citizens Bank

Citizens Bank facilitates the deposit of loose change below $20 and rolled coins totaling $20 or more. Customers have the option to deposit these coins or exchange them for cash, with some branches offering coin wrappers.

7. JBT

At JBT, every branch features self-serve coin counting machines. Customers can use these machines to tally their change without any charge. However, for non-customers, there’s a fee to use the machines, and the collected fees go straight to charitable donations by JBT.

8. Manasquan Bank

Manasquan Bank in New Jersey provides coin machines in numerous, if not all, branches. To confirm if your branch offers this service, utilize the bank’s location finder tool.

9. Republic Bank

Republic Bank’s branches offer exclusive access to Magic Money coin-counting machines, specifically designed for customer use. These machines not only efficiently count coins but also offer customers the chance to win prizes as a rewarding incentive for utilizing this service.

10. US Bank

U.S. Bank provides a coin-counting self-service option for customers at some branches.

11. Credit Unions

Credit unions often provide coin-counting machines, a perk available to their members for free. Non-members, however, typically need to pay a fee for this service. To find out if your local credit union offers this amenity, a quick call to their office can provide the necessary details.

The receptionist should clarify the availability of coin-counting machines and any associated fees. Opting for a credit union that offers this service can be advantageous as you can deposit the counted money directly into your account, allowing it to accrue interest, unlike loose change kept in a jar, which doesn’t yield any financial gain.

12. Penn East Federal Credit Union

Penn East Federal Credit Union offers its members free coin-counting services, allowing them to conveniently count their coins without any charges. However, non-members are required to pay a 2% fee for utilizing this service.

13. Suncoast Credit Union

Suncoast Credit Union offers convenient self-service coin-counting machines available in every branch lobby, designed specifically for smaller coin deposits. For coin totals up to $100, there are no charges incurred.

However, for amounts exceeding $100, Suncoast applies a 5% fee on the total. Non-members utilizing the coin-counting service are subject to a 10% fee on their coin total. It’s important to note that loose coins are required for this service, as Suncoast does not accept rolled coins.

15. QuikTrip

QuikTrip operates 800+ gas stations and convenience stores across the Southeastern, Midwestern, and Southern regions of the United States.

At any QuikTrip location, you can convert your spare change into cash. If the store doesn’t have enough cash available, they’ll provide the remaining amount through a QuikTrip gift card, ensuring you get the full value of your coins without charging any additional fees for this service.

16. Coinstar

Coinstar operates self-service coin-counting kiosks in various retail locations like Walmart, supermarkets, gas stations, and other stores, totaling nearly 20,000 sites. These kiosks allow customers to easily convert their loose change into cash.

Users can pour their coins into the machine, which automatically sorts and tallies the amount. There’s a fee if you opt to receive the cash, but choosing the e-gift card option from a range of Coinstar partner merchants—such as Amazon, Apple, Outback Steakhouse, Nike, and Southwest Airlines—allows you to convert your change for free into an electronic gift card.

How to exchange coins for cash

To convert coins into cash, start by organizing them into separate piles based on their denominations – pennies, nickels, dimes, and quarters. Next, place the coins into the corresponding coin wrappers: 50 pennies per roll, 40 nickels per roll valued at $2, 50 dimes per roll worth $5, and 40 quarters per roll equating to $10.

After wrapping your coins, calculate the total value and take these rolls to your bank or credit union for deposit or cash exchange. Alternatively, using a coin-counting machine is a more direct method. Pour your coins into the machine, let it tally the total, and redeem the receipt for cash as instructed.

How can I cash in coins without fees?

To exchange your coins for cash without incurring fees, your best bet is to take an active approach. Begin by sorting your coins into specific denominations and rolling them up into coin wrappers.

Most banks readily accept these rolled coins as deposits. Each coin wrapper has a designated capacity: $0.50 for pennies, $2 for nickels, $5 for dimes, and $10 for quarters. Once you’ve rolled your coins accordingly, deposit them into your checking account. Afterward, withdraw the accumulated amount as cash, allowing you to avoid any fees associated with the conversion process.

Do local banks provide coin exchange services?

Local banks typically offer coin exchange services to customers. While most banks provide this service, a few might apply a fee for depositing coins. It’s advisable to inquire with your bank beforehand to confirm any potential charges.

Are there any free coin deposit options at Bank of America?

Bank of America offers free coin deposit options for its customers. Yet, it’s recommended to contact your local branch in advance to confirm the availability of a coin counting machine, as not all locations may offer this service.

What is a coin counter?

A coin counter is a machine designed to tally the value of coins swiftly and efficiently. Its primary function is to count various denominations of coins, simplifying the process of sorting and packaging them into paper wrappers for convenient deposit at banks.

Despite their convenience, coin counters come with a downside—they typically involve an initial cost that may impact your overall earnings if you frequently handle cash transactions.

To optimize your use of a coin counter, seeking a budget-friendly model that ensures durability and longevity is advisable. Alternatively, if the cost of a machine outweighs its benefits, occasional visits to Coinstar machines for coin counting might be a more practical choice. Ultimately, the decision hinges on how frequently you accumulate spare change in your piggy bank.

Get cash from coin counting machines

Retailers offer coin counting machines allowing individuals to convert loose change into cash. Users pour their coins into these machines, which accurately count them. However, it’s essential to note that these machines may reject coins they can’t recognize, such as foreign, damaged, or non-standard coins.

If the machine rejects a legitimate coin, reinserting it might prompt the machine to accept it. However, it’s important to remember that this convenience comes at a cost; the service is not free. Coinstar, a well-known provider of such machines, operates them in various stores across many locations.

What is Coinstar?

Coinstar is a convenient kiosk that simplifies the task of converting large quantities of coins into usable cash. Users simply pour their coins into the machine, and it handles the sorting and counting automatically.

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While the machine does its job, users have the opportunity to multitask, whether it’s checking investment updates on their phone or reviewing their bank statement. The time it takes for the machine to process the coins varies depending on the amount deposited, with larger sums naturally requiring more time for sorting and counting.

Where to find Coinstar kiosks

Coinstar kiosks are conveniently located at various retailers across the United States. Here are some top spots to find them:

  • Walmart: With over 11,000 stores nationwide, locating a Coinstar machine at Walmart in your area should be hassle-free.
  • ShopRite: Although smaller in size compared to some chains, ShopRite stores typically house Coinstar machines.
  • CVS: Another retailer offering Coinstar access, but it’s wise to confirm if your local CVS has a Coinstar machine before heading there.
  • Target: Adding to the convenience, Target stores also host Coinstar machines for customers’ use.

Other stores where you can find Coinstar or coin-counting kiosks include Kroger, Hy-Vee, Meijer, Albertsons, Harris Teeter, Hannaford, Cash Wise, Safeway, Lowe’s, and Winco. For specific locations, it’s recommended to check Coinstar’s website.

What is the maximum amount you can put in a Coinstar machine?

Coinstar machines accept a maximum of $2,000 per transaction. If you need to cash in more than that, you can complete multiple transactions using the same machine, although dealing with such a large volume of coins might be uncommon.

What is Coinstar’s fee?

Coinstar charges an 11.9% fee on the money you put in. That means if you deposit $100, you’ll get $88.10 back. Even though this fee might seem high, it’s worth considering compared to the time-consuming task of rolling coins yourself or the expense of purchasing a coin-counting machine.

How to avoid Coinstar fees

Coinstar, as mentioned earlier, applies a hefty 11.9% fee when you exchange coins for cash, meaning if you have $100 in coins, the fee will amount to $11.90. That’s a substantial sum, and fees aren’t something most of us favor dealing with. But fear not, there are ways to avoid this fee.

First up, there’s the option to receive an e-gift card instead of physical cash. This choice comes with a notable perk – no fee attached. Coinstar offers various e-gift card options, each with specified minimum and maximum dollar amounts, catering to different preferences.

The range of gift card options spans across popular companies like Amazon, Applebee’s, Best Buy, Gamestop, Home Depot, iTunes, Southwest Airlines, and Starbucks. Bear in mind, the retailers and amounts offered might change over time, but leveraging this alternative could certainly help you avoid the Coinstar fee.

Another route to dodge the fee involves donating your money to charity through Coinstar. While the selection of available charities is somewhat limited, the options available are commendable:

  • Unicef
  • United Way
  • American Red Cross
  • Leukemia and Lymphoma Society
  • World Wildlife Foundation
  • Feeding America
  • Children’s Miracle Network Hospitals

The charity list is diverse, ensuring there’s something for various philanthropic interests. Opting to contribute to a noble cause with your spare change is another way to avoid the Coinstar fee while making a positive impact.

Are coin sorting and counting machines accurate?

Coin sorting and counting machines generally maintain a high level of accuracy. Yet, similar to any mechanical device, there exists a potential for a slight margin of error. The precision of these machines significantly relies on the individual device itself and its regular maintenance.

How much does Coinstar take out of $100?

Coinstar deducts approximately $11.90 when you cash in $100 worth of coins due to their fee of around 11.9%. As a result, you’ll receive $88.10 in cash after the deduction.

Are there any alternatives to Coinstar for cashing in coins?

There are alternatives to Coinstar for converting coins into cash. Visiting a bank, credit union, or QuikTrip store might offer better options, often providing free coin counting machines and exchanges. It’s advisable to contact them beforehand to ensure they can accommodate your request to convert coins into cash.

Does Walmart have free coin exchange services?

Walmart does not offer free coin exchange services directly. However, certain Walmart stores may have Coinstar coin counter machines available. It’s important to note that Coinstar typically imposes a fee for this service. Nevertheless, you can bypass this fee by opting for a gift card instead of a cash redemption.

How to roll coins

Rolling coins is a straightforward method to transform loose change into cash. It involves gathering your coins, separating them by type (like pennies, nickels, dimes, and quarters), and using coin rolls to neatly package specific quantities of each coin type. These coin rolls, available at banks, credit unions, or online, help in easy storage and hassle-free exchange.

Here’s a concise guide:

  1. Gather coin wrappers from stores like Dollar Tree, Staples, Walmart, or Amazon.
  2. Sort your coins by their value for easier organization.
  3. Start rolling by placing a stack of coins neatly at one end of a wrapper, ensuring they face the same direction.
  4. Fold the wrapper snugly over the coins, pressing firmly on the edges for a secure seal.
  5. Continue rolling until all coins are inside.
  6. Label the wrapper with the coin type and total amount to keep track and facilitate cash exchange.

Once you’ve collected the coins and obtained the appropriate rolls, you fill each roll with the designated number of coins: 50 for pennies, 40 for nickels, 50 for dimes, and 40 for quarters.

Properly seal the rolls by folding or twisting the open ends to ensure the accurate counting of coins.

To exchange these rolled coins for cash without fees, banks or credit unions are your best bet, especially if you have an account with them. Contact them beforehand to verify their coin acceptance policies, which might include labeling rolls with your account details or providing a deposit slip.

Alternatively, during coin shortages, certain stores or gas stations, like QuikTrip, may offer free coin exchange services. It’s advisable to stay alert for such opportunities in your area.

Rolling coins isn’t just about tidying up spare change; it’s a convenient way to maximize your savings by avoiding additional fees and effortlessly converting loose coins into usable cash.

Where can I exchange my coins for cash for free?

Banks and credit unions often provide coin exchange services at no cost to their customers. Additionally, laundrymats, grocery stores, and some supermarkets or retail stores may offer coin-counting machines that can convert coins to cash, but these machines might come with a fee.

What is the best way to prepare my coins for free exchange?

To get your coins ready for free exchange, start by sorting them by their types (like quarters, dimes, nickels, and pennies). Remove any foreign objects or damaged coins because that makes it quicker and simpler for the service you’re using.

Another helpful step is to use coin wrappers for each denomination and mark them accordingly.

If you’re using a service like Coinstar, you won’t need to sort your coins beforehand. Simply pour them into the machine, but make sure there aren’t any unwanted objects mixed in.

Are there any restrictions on the amount of cash that can be exchanged?

Financial institutions often place limits on exchanging coins for cash without fees. Banks and credit unions may restrict the amount of coins you can exchange at no cost. It’s wise to confirm with your bank about any caps or charges related to coin exchange services. Alternatively, using Coinstar doesn’t impose restrictions on coins, but it levies fees, which could reach as high as 11%, affecting the total amount you receive.

Do all banks cash coins for free?

Coin-cashing services at banks aren’t universally free. Whether you can cash in coins for free depends on the specific bank and if you’re an account holder there. Some banks might levy fees for non-customers using this service while offering it at no cost to their account holders.

Which banks offer free coin exchange services?

Several major banks, such as Bank of America, Wells Fargo, U.S. Bank, Citibank, Capital One, Chase, Citizens Bank, PNC Bank, TD Bank, and others, provide free coin exchange services. Additionally, credit unions can also serve as a viable option for exchanging coins without incurring any fees.

Alternative uses for coins

Coins, often overlooked, can serve various purposes beyond their traditional use as currency. One way to make a difference is by donating coins to charitable causes. Companies like Coinstar facilitate this process by allowing individuals to contribute their spare change directly to select charitable organizations.

By choosing this option, every cent deposited goes toward supporting notable charities such as the World Wildlife Fund, United Way, UNICEF, and others. Moreover, these donations are tax-deductible, ensuring that even small contributions can have a positive impact and potential financial benefits for the donor.

Moreover, while sorting through your coins, take a moment to inspect them closely. You might stumble upon valuable or rare coins that surpass their face value. Factors like the coin’s condition, mintage number, and any potential errors play a significant role in determining their worth. Seeking guidance from a coin appraiser can provide valuable insights into a coin’s rarity, market value, and authenticity, offering opportunities for potential financial gain.

Alternatively, some coin-counting machines, such as those offered by Coinstar and other retailers, present an option to exchange coins for gift cards at no extra cost. This convenient service enables individuals to convert their spare change into usable credits at various retailers like Amazon, Starbucks, and AMC Theatres, among others, depending on the machine’s location.

These alternative uses for coins extend beyond their typical role in transactions, providing opportunities to support charitable causes, uncover hidden value, or conveniently convert them into usable credits for everyday expenses or treats.

Buy a coin separator

Investing in a coin separator can be a practical choice for those dealing with a substantial amount of loose change or anyone regularly accumulating coins. This tool offers varied options, ranging from basic sorting trays, featuring compartments corresponding to different coin sizes, to more advanced automated machines adept at counting and rolling coins efficiently. Following the sorting process, taking the organized coins to the bank becomes hassle-free.

Advantages:

  • Time-saving automation: A coin separator streamlines the sorting process, reducing the time spent on manually organizing coins.
  • Avoidance of fees: By owning a coin separator, you bypass charges associated with external coin-counting machines commonly found in banks or stores.

Disadvantages:

  • Initial investment consideration: The upfront cost of purchasing a coin separator might not justify itself if you infrequently exchange coins for cash.

Overall, whether it’s a basic tray or a sophisticated machine, the decision to buy a coin separator depends on the frequency of handling coins and the potential time and cost savings it offers in the long run.

Tips for maximizing your change

Here are practical tips to make the most of your loose change:

  • Limit Cash Usage: Use cash sparingly, reserving it for emergencies. Opt for mobile banking or cards to gain better spending visibility, reduce the risk of theft, allow your money to accrue interest in the bank, and maintain a more sanitary approach to transactions.
  • Roll Coins Regularly: If you prefer using cash, adopt the practice of rolling up your loose change at the end of each day or week. This prevents the accumulation of large coin sums in jars, making it more convenient and cost-effective when it comes time to cash in.
  • Spend Your Coins: Despite their bulkiness and perceived inconvenience, actively use your coins for everyday purchases like food, drinks, and transportation. While it might raise a few eyebrows, coins are legal tender, and putting them to use can help declutter your space and utilize your spare change effectively.
  • Pay Down Debt: Consider allocating your spare change towards paying off credit card balances or student loans. This reduces your principal balance, ultimately lowering long-term interest payments. If you’re debt-free, redirect the money to savings or investment accounts for future financial goals.

The bottom line

Saving loose change can be a surprisingly effective money-saving strategy. Tossing coins into a jar creates a kind of unconscious savings—you hardly notice the impact on your wallet, almost as if it’s not real money. And when you add dollar bills into the mix, the savings start to accumulate significantly. Over time, what seems like spare change can actually grow into several hundred dollars annually.

Even now, turning your loose coin into cash is possible without any fee, provided you know where to search. A convenient method is visiting a bank or credit union equipped with coin-counting machines that handle the task effortlessly. Alternatively, purchase coin wrappers, allocate time to sort and count the change, and then roll them before depositing into your account. This approach spares you from service fees, allowing you to retain a larger portion of your cash.

While using your bank for exchanging coins is the most cost-effective method, Coinstar can be an alternative if your bank isn’t an option. Keep in mind that Coinstar might charge a fee, but the upside is that you’ll walk away with cash in hand.