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Nearly all coin-counting machines charge a so-called "convenience fee" of 8 or 9% for the "privilege" of converting your coins to paper currency. A smart consumer should never pay a "convenience" fee because that's a code phrase for a charge that's usually far higher than the actual cost of the service provided.

There are two ways to avoid the fee:

> Some CoinStar machines will let you convert your coins to a gift card. But again, a smart consumer knows that a gift card locks you into spending money at the store that issued it, and may come with strings such as its own usage (or non-usage) charges.

> Larger banks often will count coins for free or for a much lower fee. In the northeast US there is a major chain bank (green logo, 2-letter name) that will count coins for free even if you don't have an account with them.

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Q: Do you have to pay to use CoinStar machines?
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Can you receive cash for your coins?

most grocery stores have arrangements to convert coins into cash e.g. Ralphs has coinstar machines.HOWEVER ...Unless you can find one that will convert the coins for free, CoinStar and similar machines are a **VERY** bad deal. Most of them keep anywhere from 8 to 10 cents out of every dollar you put in as a so-called "convenience" fee. Check with a few larger banks. In some cases they'll take wrapped coins with no extra charge. If you live in the northeastern US there is a major bank chain that will count coins for anyone about 6%, even if you don't have an account. Some smaller banks may charge less or do it for free.


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