Do You Save Loose Change?

My grandmother was a prodigious coin saver. I remember one summer when I was about ten years old helping her roll dozens of rolls of coins. Sensing I was getting a little bored making my piles of fifty pennies, she took me back to her room where she had hidden shoe boxes of rolled coins under her bed.

She took the tops off those old shoe boxes and I remember peering into them and seeing roll after roll of quarters, nickels and dimes. She had whole boxes dedicated to pennies. There was easily a few hundred dollars in change under her bed.

The Coin Collector’s Christmas Club

“Nana, what are you saving all those coins for?” “For Christmas,” she replied. My grandmother didn’t work outside of the home after my grandfather retired from the Marines. Fortunately for her, my grandfather is a cash-only kind of guy, opting to spend cash over charging on credit cards (these were the days before debit cards were made popular).

He would come home after a trip to the store and empty his pockets on the top of his dresser. That’s when my grandmother swooped in and collected any loose change and was off to add them to her coin bank. She did leave a little pile of change my grandfather referred to as his “walking around money.” He always liked to keep a little change in his pocket.

After that summer of helping my grandmother roll coins I went with her to the bank where she cashed in over $300 in rolled coins. Part of the reason she took me along was to reinforce the habit of savings, but I really think she needed help carrying in those old shoe boxes!

Saving Coins in the 21st Century

Fast forward twenty-plus years. My kids now enjoy saving coins. Both of them have little electronic money jars that keep a running balance – something I’m still not sure about. While it is fun knowing you have $52.00 in change in your coin jar, just knowing that makes you want to cash it in for that $50 game you’ve been eying.

One of the things we struggle with now is finding a more efficient way to cash in that change. Some banks and credit unions have a change counting machine where you can dump in your change and make a deposit to your checking or savings account. Others require the change be rolled, and some even require you write your account number on each roll (have you seen the length of some bank account numbers these days?).

The very act of counting the change is time consuming, and most electronic sorting banks are expensive – the cheap ones never get the count right, or drop dimes in your penny column, etc. Of course, there is always those Coinstar machines. I admit I’ve carried along a jar of money or two to Kroger and dumped it in the Coinstar machine to put towards the grocery budget. Yes, I know it charges me an 8.9% fee, but considering how long it takes to count and roll the money, isn’t this worth it?

Coinstar does offer an option to redeem your change for an gift card or eCard (list of participating merchants) without adding the fee. But then you have to buy something online, pay for shipping and wait. 8.9% doesn’t seem so bad after all.

Are you a coin saver? Where do you keep your coins, and how do you cash them in?

Comments

  1. I collect my change in a can on my dresser. A couple of times a year, I take the can to my Coinstar machine and save the fee by getting an Amazon gift card. Then I add that to my Amazon account, which I use for buying electronic books for my Kindle – no shipping fees required!

  2. Yes, I save coins. I get most of them the same way your grandmother did. I save them in seperate ceramic piggy banks. That’s when I do the sorting, as I get them. I use the quarters when we go on vacation to wash laundry. Did you know quarters fit perfectly in M&M tubes? I take only my pennies to coinstar. To me it is worth the fee for pennies. Everything else I roll when the banks are full. I usually just cash them by making purchases. I don’t use more than one roll at a time when I make purchases.

  3. I loved this story about your grandmother!

    Personally, I don’t save change. We use it constantly. I give it to my children to buy a drink from the store, or for my husband to buy coffee. We also pay in coins for bread, etc. If we use a little of it each day, as it comes in, it doesn’t need to be saved.

    We pretty much pay for everything in change. Other than big shopping trips (groceries, etc).

    Have you seen the commercial for Office Max? It is so funny. There is this customer who pays for everything in pennies. In the most recent one, he had over $2000 in pennies and tried to buy a used car.

    In my opinion, it is much easier to spend the change each day, rather than saving it.

    Save the paper money instead.

  4. I am a coin saving fanatic. I pick up every penny on the ground i see. I have a water jug that i have been putting pennies in since 1995. We have never counted the pennies (only pennies in the water jug). It weighs over 50 pounds currently. I keep change i find laying around and everyone pockets at laudry time in a coffee tin on my dresser. When it is full i transfer it to a larger coffee tin in the shed(Shhh, that is a secret). I am not sure when or how i will count it one day, and maybe spend it.

  5. I save coins. I really hate that coin counters charge a fee, especially the bank. They are a bank for crying out loud, aren’t they supposed to count your money!?!

    On New Years Day we like to go to movies. Sometimes 2 or 3 times that day. One year we paid for all the movies and concessions with the quarters we’d been saving all year. Our kids were totally embarrassed.

    • Do you know how frustrating that would be if a bank employee had to individually count everyone’s change? Lines would be packed!

  6. I am at least a third generation coin saver. I remember my grandfather saving coins in his cigar boxes. My parents save their coins and they insist on rolling them even when I tell them a local bank will count for free and you don’t have to be a member. I actually think they enjoy counting and rolling. I don’t enjoy counting all of those coins, but we do have a glass canning jar in our kitchen that we throw our coins into. We usually cash out about 2 x a year and get around $80 each time. We use the cash for our family trips.

  7. I save bills as well. My wife and I give ourselves a $20/week “allowance” to spend any way we want, no questions asked. Any dollars I have left at the end of the week I throw into that junk collector bin thingy between the car seats. There’s about $50 in there now.

  8. I save coins and $1 bills. Unfortunately, I use my debit card much more than cash so my change and dollar bill savings was taking forever. So, I recently signed up for a Way2Save account with my bank that does essentially the same thing. Moves $1 of every purchase to a savings account.

    As for the coins, I used to always roll them but that stopped once I discovered coinstar. I dont mind the fee but I think next time I will try getting the gift card.

  9. I absolutely save coins! It turns out I save mostly pennies because my husband and daughter are always pulling the silver out of my jar. I took the two bags of coins to the Coinstar machine a few months back and came away with $80… after the fee. But since I buy so much stuff at Amazon (for myself, as gifts, etc), I may opt for an e-gift certificate next time.

  10. No, I don’t save coins. I keep them in my pocket, and spend them whenever I buy something, rather than breaking a bill.

  11. Back in the day when we were broke, my husband and I would scrounge the house for change when we wanted to order pizza or something else frivolous. He continues to have the habit of dropping coins all over the house, so like your grandmother, I swoop in and put them in a cookie jar. When the jar is full, I will take them to the TD Bank coin counter and see how much I’ve got. It will go right into the emergency fund or travel fund (depending on where I’m at with those funds by then). I find this to be a simple way of boosting our saving a little bit, because DH struggles with the concept of saving, but doesn’t notice these coins going missing :) Really, it’s a win-win.

  12. I save my coins as well and it is probably because i watched my grandmother and mother do it. However I rarely cash mine in because i use them when i want to get a soda or junk food. sometimes even the dollar menu at mcdonalds. mainly i use it for my little treats that idon’t usually buy.

    my daughter saves pennies! she loves them and has ever since she was little. she has a piggy bank that she got as a gift when she was born that holds all her pennies that she has collected and she is now 9! she tells me she is never going to cash them in but we will see. they put a new coinstar machine in our walmart last week and it caught her eye when we passed it by the other day.

  13. We save coins and use the money towards the events that happen in December (Christmas, anniversary, hubby’s bday, daughter’s bday). It’s a busy month for us.

    I use the Coinstar machine and redeem my coins for Amazon gift certificates with no fee. They run great specials around the holidays and if you spend over $25 on most items you get free shipping.

  14. I could never imagine paying 8.9% to someone for exchanging my coins for dollars. My bank has a machine that does it with no fee, but I’ve never used it. Just sit down in front of the TV and take an hour. It’s your money, why give it away?

  15. @Mike: I don’t do it often, but if I have a huge pile to sort I’d rather dump it in the machine than take several hours to count it and roll it manually. What I really ought to do is invest in a good coin sorting bank to use at home so it would be easier to drop off rolled coins at the bank. Unfortunately, none of the nearby banks have a machine.

  16. Yes. We absolutely save all our change. I also save the odd dollars that show up in the washer or dryer. We also pick up all the change we find on the ground. We typically end up with at least $600 a year (or more) in change (we are on the cash envelope system of budgeting in our home as well). That money goes into our travel account. btw, I do roll the coins as well. I get a lot of satisfaction knowing this “free” money is all ours to spend on something fun; I don’t find it taxing to do this little job one bit.

  17. We definitely save coins! My kids have those coin banks with the electronic readout on the lid. Funny thing is, they don’t take money OUT of it because it messes up the running total and they have to either count it again or clear the memory and put it all through the slot again. I have a large “genie jar” that I throw coins in. When it’s full it can net about $150. Not bad for what I consider passive savings. :)

  18. I agree with Mrs. White about spending change. I’m a new budgeter, and also a new expenditure-tracker, and I write down even what I spend in cash. When I buy something for 6.37, I call it $7 and leave the change in my wallet. Then the change is like “free money” I can use to splurge on all the little things my budgeting-self doesn’t always justify anymore…a cup of coffee at starbucks, or a new cool pen.

    Quarters, btw, go directly into the ashtray in my car to be used in parking meters.

    This is fun for me and saving coins isn’t. But here are some ideas for you if you want to…

    Why not go back to counting the rolls yourself? Instead of thinking of it as a hassle, use it as pre-planned time to reflect on your financial abundance, or use the time meditatively as counting, stacking, etc. are repetitive.

    Or, offer some kids (yours, someone else’s) a cut of the total if they count and roll it. If you have some 5 or 6 year olds around, this could be a pretty exciting venture for them!

  19. My husband and I are definite coin savers. We love collecting rare coins and using whatever is leftover for something special. The first time we used our coins we bought our first grill. It was pretty exciting. I have used my coins for vacations, savings, special nights, all kinds of things. I know a lot of people who give me coins because they think pennies and the like are worthless. I don’t think they have ever heard of the saying “a penny saved is a penny earned”.

  20. Absolutely! Not only do I save change but I find lots of lost or discarded coins on the streets of NYC. My friends laugh when they see me stoop to pick up a humble penny, but I consider it a crime to bypass legal tender of any kind. I keep it in an antique butter crock in my kitchen, and when the thing is 3/4 full I take the change to TD Bank, use their free coin counter and walk out with usually over a hundred bucks in long green. Then my friends don’t laugh quite so loud or long.

  21. I remember rolling coins when I was a kid. We always had “piggy” banks shaped like little plastic or ceramic swine, or other similar novelties. Every once in a while we’d take the money out, roll it, and take it to the bank. Deposit day was always very interesting because my mother would let me do the talking when making my own deposit, and I’d get to handle my own passbook.

    These days I toss the extra coins in a jar. For a while I was on a Neal Boortz kick and saved all my ones, but in order for the Boortz method to work you have to spend the change. Keeping both the ones and the change got too cumbersome and I found the ones didn’t give me the same kick that a jar full of coins does. It’s odd that I scrapped the dollar bill savings in favor of the coins, since the bills added up faster, but coins in a jar somehow just do it for me.

  22. I’m with prufock – I keep it in my pocket and spend it rather than breaking a bill. As I buy most everything with cash, there is usually a need for the coins for exact change.

    Or for paying the grandkids for extra chores at my house. Or for garages sales :)

    And yes, I pick up pennies from the parking lot also!

  23. I love counting coins, I don’t see it as a time waster because it’s very therapeutic for me. Rolling coins is one of my ways to reduce stress.

    I used to be a waitress so I’d come home with a handful of change every night, part of my paycheck was to roll up my coins and deposit them in the bank. Because I collected so much I have a huge pickle jar that they go into. I used to roll between $80-$120 in coins a month, mostly quarters tho.

  24. I am glad someone else brought up TD-Bank. If you are in the northeast, you can go to the child friendly Penny Alley and have your change counted for free. You don’t even need to have an account at the bank. I would never give away 8.9% of my hard scrounged change!

  25. Like a couple of other people above, I save in a 5 gallon water jug. I keep my pennies in there and I’ve been doing it for about 8 years.

    When we were still dating (and my wife was laying it on pretty thick to get engaged/married) I told her that we could get married when the coin jug was full (it’s only about 1/5 of the way full even now). She didn’t think that was too funny… but it did get her to put a few pennies in the jug!

    I separate out my pennies, and quarters, and my nickels and dimes I keep together. The pennies, like I said, are in the jug. The quarters are in an old tin and we used to use these for laundry before moving to our current place with a washer and dryer. The nickels and dimes I generally save up for a nice dinner… though if I need a quick snack, I sometimes horde it for a trip to McDonalds too!

  26. We don’t really save coins. We mostly use our debit card so there is no change (although, as a side note, our bank also pulls an extra dollar out of our account for every transaction and puts it in a savings account).

    When we do have change, my husband carries his with him to buy sodas, and I save mine in the “mommy tip jar”, but it usually only accumulates enough to splurge on a Starbuck’s or icecream. We have maybe $5 in pennies in there too, but those take a long time to accumulate!

  27. I always have a jar in each level of the house to throw the loose change in. The coins are just used for parking meters and vending machines :)

    In fact, I am a historic coin collector especially those from China dating back to 1000-3000 BC. I began collecting them back in 1997. Back then, the economy was just opening up, and I amassed a huge collection. Coins were made out of copper, and mini-knives and shovels. Fascinating.

  28. I never saved anything more than pennies at a time. I try to put it in a jar but when I need something I will come in and take all of the quarters and dimes and nickel out and leaving the pennies. I have tons of pennies in the car right now, not too mention tons at home. I plan to bring them to the Coinstar at Walmart and cash it but it is too heavy and since it’s all pennies I don’t know how much can I get back or the fee will swallow it all. I have to start saving quarters and dime to make the rest of the pennies worth while. It would be nice to have some cash by the end of the year. You know, may be I’m wrong, but I heard somewhere that there is about 3 billion dollars worth of loose change on the street every year in America. Guess billions and billions of pennies does add up to a nice sum of money.

  29. I save coins frequently, but since we are apartment dwellers with quarter-based laundry, it takes a while to actually save much. I will recommend checking to see if there is a commerce in your area. They’re very prevalent here, and the coin counting is free for non-customers. That’s where I always go.

  30. Although he passed away when I was just into my teens, I still vividly remember my Granddad stopping his old truck and getting out to pick up coins on the road. He was this was silly but then not long before he passed, he bought his wife a new car with cash – much of it loose change kept in old tin coffee cans. If for not other reason than to honor his memory, I make a point to pick up coins from the street anytime I spot ‘em.

    We have a little cup for coins in both of our cars. We use those for drinks, newspapers or other little incidental purchases.

    We have a separate cup in the garage where only quarters go so we always have a supply of those coins for the carwash.

    And earlier this year I gussied-up an empty peanut butter jar for our toddler to put coins into. I empty change out of my pocket at the end of the day and he gets to put those into his jar then we pull some of the money out on special occasions to go buy an ice cream or other treat. I make sure he holds the coins in his pocket and gives them to the cashier to try to cement the experience in. He’s still so young that it’s probably mostly lost on him, but I wanted to start him on the concept of saving early.

  31. My husband is a bit like your grandfather, always dumping little piles of change out of his pockets everywhere. After our daughter was born I started taking those piles and dumping them into a special bowl we bought for saving money for her school fund. That in combination with an automatic deposit each month has built up quite a bit in a short time.

    Also, it’s totally nerdy, but I actually enjoy rolling coins. Every 6 months or so I sit in front of the TV and sort & roll for a couple hours. Very satisfying!

  32. I save all my loose change, then when I have around a hundred dollars or so I go to coin star and change it for dollars. Then I go directly across the street to the local coin dealer and buy silver ounces or gold grams.

    When the currency is declining it makes no sense to hold onto it. Precious metals are what you want to be holding in periods of inflation!

  33. I save “found money” and coins. I take the coins and use them in the self-serve machines in our local grocery stores. I then pocket the paper currency I would have used for groceries.

  34. Hi
    I save coins too but only the copper ones, simply because no one misses them and at the end of the year when I empty out my old fat cat money box there is usually enough to buy the ingredients for my Christmas cake, mince pies Christmas pudding and a bottle of cheep drinkable fizz! Lol. That coupled with the loyalty card I have for my phone broadband and supermarket I am able to buy vegetables fruit and a cheese board. And what I love is its money I never miss and would be hard pressed to find at that time of year.
    Happy saving all
    Rachel
    England

  35. Yep, we put all our change from our spending money in a jar. We do grocery shopping with a debit card, so it takes awhile to fill up, probably $120 per year or less. Our bank (US Bank) will sort and count it for free in their machine since we deposit it straight into our checking account.

  36. It is change! Why, oh why are you “paying” someone to count your money????? That is just nuts. I have saved change for several years – never spend it and collect it from my husband. I roll as I go and write the total on the paper. Every couple of weeks I have a handful of full rolls to deposit at the bank. But never, never, never, never, never…did I say NEVER, would I pay someone (or some machine) to count the change for me….and you are supposed to be frugal!

  37. I like changing coins to dollar coins or quarters at a vending machine. If you put in dimes and nickels some machines will give you quarters and/or dollar coins when you hit the coin return.
    As for the pennies I guess I’ll have to go to the bank, post office machine, or somewhere. I like giving the pennies to my co-worker becuz she donates for the animals. She gets to lug those pennies to the bank. you’d be surprised how many coins we find on the ground too.
    Buy something if you want at the vending machines but that’s a different topic.

  38. I always save my change and roll it myself — I’m far too frugal to give 9% to Coinstar. If you roll as you save, it’s not so bad. But I do have a lot less change nowadays due to debit card usage.

  39. I don’t save coins for the sake of saving – I just hate carrying loose change around in my pocket. I have coin jars at home and work. Every once in a while, I cash in the coins at my bank (which doesn’t charge).

    The Coinstar cards seem like a decent option. I shop at a lot of those merchants, anyway – Amazon in particular.

  40. I keep coin wrappers (coin tubes) for nickels, dimes and quarters on my dresser (I use pennies to pay odd charges like $1.49…if I pay with $2.00, then I get all silver in change). I just drop the silver in the appropriate wrapper at the end of each day. I can pretty well determine by now when I have the requisite number of coins in each wrapper; i.e., 40 nickels in a wrapper to equal $2.00. Then I put the wrapper aside and rdeem them every six months or so for whatever I want at the time. Using the wrappers saves having to sort the coins out of a big pile and then wrap them – tedious work for me, but perhaps not for everyone!!

  41. We save all of our coins in a mason jar on the counter. Everyone in the family is welcome to dip in and get what they need – for a treat every now and then. But when it gets full, I take it to Coinstar to get about $15 after the fee.

    One year when I was in school, we received an anonymous gift at Christmas: a five gallon water jug filled with coins! My father-in-law was so curious that he rolled the coins for us. It totaled over $400. I can’t tell you what a blessing that was for us that year. Our goal is to do the same for someone in a few years, but we always end up cashing in the coins ourselves.

  42. We save change in a 5-gal water bottle. We use it for vacation – this year it paid for admission into Silver Dollar City – around $300.00 for six people for 2 days!

    Our credit union has coinstar-like machine in their lobby with no fee to use it . . .

  43. We don’t make a point of saving coins, I spend mine and my boyfriend puts his in a jar because he doesn’t like having change in his pockets. It adds up pretty quickly here in New Zealand because the coins are different here. We have 5, 10, 20, and 50 cent coins as well as 1 and 2 dollar coins. (Since they don’t make pennies things are rounded to the nearest 5 cents when you pay cash).
    It is pretty easy to cash change in though. You just have to bag the coins by type then at the bank they weigh each bag to figure out how much money is in it.

  44. I just pay with exact change when I buy things. No rolling coins and no buildup. I refuse to pay the 8% fee of a deposit machine and don’t want to buy my own counter. Some banks have a counter you can use for free (usually deposit only) though.

  45. We have a coin jar. We used to use it for the laundromat, then it just sat there for a while. Then our 2 year old started playing with the coins (there were pennies and nickels and dimes ALL OVER THE HOUSE!!) Then we finally counted them and deposited most (not the nickels or pennies) into our emergency fund – it was about $70.

    Here is a story about a garbage man who found change in the garbage and used it to take his kids to Disneyland every year: http://www.youtube.com/watch?v=KhqRMP9meMc

  46. I have one of those coin trays that counts money as you put the coins in so as soon as one slot is full I roll it up. Saves time and effort.

    At any rate, I typically save a few hundred dollars a year in change — I typically spend about $1.65 on coffee every day so carrying change to avoid breaking a bill doesn’t work — and then deposit it periodically.

  47. We keep coins in the apartment (we used to use the quarters for laundry until our units finally got cards). Occasionally, when we order in, they help with tips, although we’d never give pennies or even nickels.

    COins are too heavy to carry around, so when they fill up a jar or two, it’s off to the local TDK bank. (We do try to keep some count because those machines are often “off.) We used to have to roll and count them for the banks, now the banks won’t even take them rolled up! Which is amazing to me. Coins are still money.

    I’d love a world where all we ever used was a card for everything we purchased. If only there was a security system to prevent theft and fraud.

    No coins would be great.

  48. I received one of those electronic coin counters as a gift and I love it. Seeing the balance each time I add a coin doesn’t make me want to spend the money; it makes me want to add more and make the balance go higher!

    I used to roll the coins and deposit them in my account at the bank but since they started requiring you to put your account number on each roll, I decided my time was worth the small fee Coinstar charges.

    My credit union has a coin counting machine that charges a lot less so I use that now.

    -SingleGuyMoney

  49. I work at a movie theater so I find coins on the floor all the time! I always pick them up, even if they are only pennies. I have found $25 in cash on the floor before. No one claimed it, so it was mine. I’m sure I spent it on something frivalous though. Next time it will go straight into savings.

  50. I keep at least $2.00 in change in my pocket and at least another $5.00 worth in the ashtray of my work truck. When making a cash purchase I often dig in my pockets for the exact change. On the rare occasion that I have a hankering for a $tarbucks I can just pay for it with change.

  51. Sorry, but we do it the old fashioned way. Every time the change bank gets full I summon one or more of the kids and we sit down at the dining room table and count and roll coins. It teaches the kids thrift, accuracy, diligence, endurance, etc. I have been rolling coins all of my life (I had a paper route as a child) and I actually find it to be quite relaxing.

  52. I’ve been tossing my spare change into a small jar for years. I never miss it and, when it’s full (usually a few times a year), I can cash in for around $100. I generally cash in for free at my local bank, but also like the idea of using the coinstar gift cards to help pay for a few small indulgences, like starbucks or amazon. Might have to give that a try, thanks!

  53. Yes, I save coins up. Periodically I dump my change purse out into a silver bowl I have on the kitchen counter. Every few weeks I count out some of the pennies, nickels, etc, and go buy coffee beans. I try to count it out in advance, and go at a slow time of day (not the AM rush!), otherwise it would pile up forever and I wouldn’t use it.

  54. Thank you for these inspiring stories of saving money. I will become more aware of saving my coins from now on and possibly doing something good with what I collect. Keep saving!

  55. I find coins, save coins, etc.

    My dad saves them in a big gallon sized jar. On Christmas all the grandkids (starting with the youngest)can reach in and pull out a handfull. NO scooping allowed!

    They each then sit around and count their stash and see who won that year. My dad keeps track on a little piece of paper. He loves it just as much as the kids. The kids of course get to take their coins home. It has become a fun tradition.

  56. I also agree with the TD Bank recommendation. When I cash my change in it is usually between $300-400. It would bother the heck out of me if I lost $25-32… I used to do it at Commerce Bank, before they were sold to TD. When the name on the building changed to TD I got nervous, but thankfully, they kept the concept going. I am not sure if it was mentioned, but you don’t have to have an account with TD to take advantage of the service.

    There have been times I have stopped people at Coinstar machines to tell them to take the money to TD.

    Great article.

  57. I am so relieved to learn I’m not the only one who finds coin-counting and coin-rolling gratifying or soothing.

    For a while there I thought I was a freak. When I was a teen I used to count up the coins in my jar every once in a while, especially when I was stressed out. I thought maybe I was turning into Scrooge McDuck but mercifully I’m not alone.

  58. You can maybe buy a residential or a commercial coin counter/roller. It will definitely pay off in the long term.

  59. We save most of our change. Some of my quarters are used to buy papers each week and sometimes I’ll pay with exact change at a store. I have a big pretzel jar that I throw spare change in. We use it for spending money on our ‘big’ vacations that we take every few years. Both of my kids have gallon size banks that they save their coins in. When they cash them in they usually have $200-$300 each time. They get such a thrill out of seeing how those little bits of change add up to big money. We let them spend a little of it but the bulk of it goes into their long-term savings account. We have settled on using Coinstar to cash our change in. In the end, we feel the convenience is worth the fee.

  60. I love saving coins! I do the same thing your grandmother did – stockpile what the husband brings home daily for a little surpise later. My husband and daughter love the suprises, I love seeing the change in the jar grow. I have to say though – coinstar is great, we have used it a few times to get Lowe’s gift certificates since we just bought a new house – no 8.9% and no online hassle. Both topics are GREAT! thanks!

  61. We definitely save all our spare and found change. When the container is full, I go to the nearest Coinstar machine and exchange all the change for amazon.com credits (no fee taken). We buy so much from amazon every year, it seems like a no-brainer. I used to count and roll coins but that was in my past life as a waitress. When our son was younger, he was happy to count and roll them. Now I let the machine do it for me :)

  62. We save coins to what we call our dogs, Boo-Boo and Shasta’s “college fund”…that is, when we go on vacation, it pays for their kennel fees. We’re up to $267 so far since Feb.

  63. I do two things…

    With spare pennies that show up in my change when shopping at a store, I simply toss them into the nearest trash can. They are just stupid pennies and it is just not worth the hassle for me to keep them. Plus, I always make sure that someone else, usually the low-life, part-time, minimum-wage store worker, is watching me, so I get some satisfaction from that.

    For other change, I keep that in the ashtray of my car and, a few time a month, I bring it inside and save in a big jar. The last time we took it to the bank, we got $706 back! Nice!

  64. Just a an observation directed at the the poster “I do two things” I am PROUD not to be able to afford to be so shallow and if you are not a frugal person and by that I do not mean penny pinching, why were you on frugal dads page?
    I know we aare all entitled to our opinion but some people need to think on
    Rachel
    frugaly happy
    England

  65. Like you I don’t like giving an anonymous faced company my pounds unless im legally obliged to or its within my interest to do so. Love what you Grand mother Did for you as a birthday gift she sounds like she was a good soul.
    Happy saving
    Rachel
    England

  66. Definately save coins! We have a large pig. It pys for the small things. OUr bank rolls change for free. When that goes away, we will have no more reasons to bank there!

  67. Now that I use cash most of the time, I always take my spare change and toss it in a large empty pretzel container…you’d be surprised how much you can accumulate in the year. My husband and I will take half of it and put it into savings and use the other half to for personal splurges!!

    I agree with you that having the digital bank that keeps track of your kids savings is not a great idea. Knowing what is there makes it harder to resist.

  68. My mom saved $ coins for a while when things were really tight, and surprised my dad with a new camera for his birthday. He was so shocked he cried. During university, I saved my coins for entertainment and “vacation”. My roommate and I were able to spend a night in a hotel about an hour away from campus when we were both really stressed. That was such a luxury -swimming pool, hot tub, sauna, cable TV.

  69. All great stories about saving money. I took a Holiday popcorn tin and cut a hole in the top. I screwed down the cover then taped around the seal. I toss in all my change and all of my dollar bills or any extra money that may come my way. It’s nice because you can’t see how much is in there. It will be nice to open it up once it is full!

  70. I actually think it is the most frugal to put the coins in the bank (whichever way you get it accepted, rolled or TD bank or whatever) as soon as possible instead of waiting till there is a hundred, 300, or more dollars like the people above have said. Why? Because of compound interest. If instead of waiting for a year and having 300 dollars you put in 20 dollars in January and 25 dollars in February and more March etc then at the end of the year you would have more than 300 dollars and if you left the 300+ dollars in the interest making acount it would be WAY more than 300 dollars down the line.

  71. My husband and I save all of our change each month in a piggy bank on top of the fridge. Each month I empty it out and add it up. Then we had that full amount to our mortgage principle payment (Plus about $400-$600 from checking). We usually have about $40-$50 a month in change to help reduce our mortgage balance. Our bank has a free coin counting machine in the lobby, you just bring your change in, pour in it, and it prints you a receipt that you hand to the teller to get your cash, no fees at all.

  72. I collect coins. I have the electric coin jar which shows your balance. I was searching the web to see if people were doing the same thing but some are spending the money you save. Not me. I’ve taken the time and effort to collect it’s no way I’m giving it up to spend on what? I make dollar bills to spend and keep the change from when I break it. So far I’ve collected 74.91. This is only the beginning ima be the only person in the world to have a shit load of change. Won’t tell my other secret tho yours truly mz bank roll

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