Where Can I Change Coins to Cash?
Years ago, many banks had coin-counting machines on hand for customers to bring loose change to exchange. Others allowed customers to exchange their spare change but required coins to be rolled by denomination before accepting them.
Both options still exist at some banks and credit unions, while others have phased out these services or partnered with a third-party service provider to provide self-service coin-counting machines for customer use.
Coin exchange self-service kiosks placed in retail and grocery stores, banks and gas stations have become the primary method for exchanging coins for cash. Coinstar is the largest service provider of coin-exchange kiosks, with 24,000 kiosks across North America and Europe. You may have access to several kiosks, depending on your location. Unfortunately, Coinstar charges a fee when you exchange your coins. Coin processing fees can vary depending on location but run as high as 11.9%. You can avoid paying fees by receiving an e-gift card instead of cash.
Other banks and businesses may offer alternative coin-exchange machines or services. Often, these services aren’t available across the board at all locations or branches. Contact your local bank, retail store or business to confirm whether they accept coins for cash before trekking down to a branch with bags of coins in tow.
Your bank may provide coin wrappers for free upon request. Otherwise, you can usually find them at large retailers, office supply stores or Amazon. Coin-sorting machines are available for purchase if you don’t want to count loose change yourself.
Common Places for Counting Coins
Depending on your location, you may have several options for exchanging coins for cash. Here are some of the common places and businesses to find coin-exchange services.
Banks and Credit Unions
Many banks and credit unions still offer coin-exchange services. In some cases, this service is only available for account holders. Some banks and credit unions only accept rolled coins, and others limit how much you can exchange at one time. Further, some banks and credit unions have turned to third parties like Coinstar to provide coin-exchange services for customers.
Below are banks and credit unions that accept coins for cash:
- Chase
- Bank of America
- U.S. Bank
- Capital One
- Citibank
- PNC Bank
- Wells Fargo Bank
- Fifth Third Bank
- Citizens Bank
- Republic Bank
- JBT Bank
- Manasquan Bank
- Rockland Trust Bank
- Ridgewood Savings Bank
- Valley National Bank
- Navy Federal Credit Union
- Credit Union of Colorado
- Founders Federal Credit Union
- Bethpage Federal Credit Union
- Randolph-Brooks Federal Credit Union
Coin exchange services and fees may vary by branch location. Check with your local bank or credit union branch to determine if they accept coins.
Grocery Stores
Grocery store chains are among the most likely spots to find coin-exchange machines. Generally, these are Coinstar kiosks, but some grocery stores may offer alternatives. For example, Publix has Coinstar kiosks at select locations and operates its own coin conversion machines at other locations.
Here are some of the large grocery chains that have coin-counting machines at select locations:
- Meijer
- Walmart
- Jewel-Osco
- Kroger
- Giant Eagle
- Wegmans
- ShopRite
- Acme Markets
Retail Stores
Big box retailers, like Walmart and Meijer, use Coinstar kiosks at select locations. Target does not offer coin-counting machines, but you may still be able to use your coins when shopping. Many retailers, including Target and Walmart, have self-checkout kiosks that accept cash and coins as payment. Contact your local retailer to see if they offer coin-exchange services.
Other Uses for Coins
Receiving cash isn’t your only option for spare change. Consider the following alternatives if you’ve been saving your spare coins and want to exchange them for something of value.
Exchange Coins for Gift Cards
When you exchange your change through Coinstar, you can receive e-gift cards from retail and restaurant partners instead of cash. Exchanging coins for gift cards is also the only way to avoid Coinstar fees. E-gift cards are redeemable in-store and online. Options include Nike, Amazon.com, Applebee’s, DoorDash and more than a dozen other partners.
Donate Your Change
Consider donating your spare change to a charity. Coinstar allows you to donate change processed by its machines to select charities, which include the American Red Cross, Make-A-Wish and Feeding America. Coinstar retains a processing fee of up to 10% on charitable donations. Other charities may accept change donations during the holidays or throughout the year.
Turn Coins Into Souvenirs
Amusem*nt parks and other tourist attractions are frequently home to penny presses, which flatten pennies, typically embossing them with a unique design or logo. Take your old pennies and turn them into unique souvenirs to commemorate a trip or experience.
Teach Your Kids How To Count Money
Despite inching closer to a cashless society, it’s still important for children to understand how to count and use money. Turn your old coin jar or piggy bank into counting sessions and financial lessons for your kids.
Frequently Asked Questions
Can You Convert Coins to Cash for Free?
Bank and credit unions often provide free coin exchange services for customers. Sometimes, you’ll need to roll your loose change for your bank to accept it. Coinstar charges a processing fee when you exchange your coins for cash but doesn’t charge a fee when you choose to receive an e-gift card instead of money.
Is There Still a Coin Shortage?
The United States experienced a significant coin shortage starting in 2020 due in part to the COVID-19 pandemic’s description of coin circulation. According to the Federal Reserve, there is no longer a coin shortage.
Should I Save My Coins or Cash Them In?
Generally, it’s better to cash your coins in unless they are rare coins with significant value. Coins hold little value unless used. With the rise of digital transactions, there’s less need to keep coins on hand.
