Coin Counters

[rjw4law]

What is the accuracy of the coin counters at the bank. Sometimes I wonder if I am shorted a few dollars. Please provide, comments, experience or speculation.

 

[keverett]

The coinstar (yes registered trademark coinstar) at my Credit Union is right on. I checked it today when dumping over 2 boxes of dimes and 3 boxes of cents. I dumped all of the dimes first, and it read every single one as a dime. The pennies were right on the money too . So I would assume that it depends on the manufacturer of the coin counter, but mine is dead on.

 

[quiksilver]

Any time ive checked they have been ok.

 

[Rich Hartford]

What is the accuracy of the coin counters at the bank. Sometimes I wonder if I am shorted a few dollars. Please provide, comments, experience or speculation.

I prefer to use coin counters and use them all the time. Some are fast and some are slow. I find them to be accurate with the exception of dimes which are sometimes counted as pennies. So you may take a small loss there.
There is one chain of banks where I won't dump which is TD. The bag only holds 100.00 in halves and there have been a couple of newspaper articles on their machines being inaccurate. This may have been corrected though.
HH
Rich

 

[FL Junkman]

I dump at one Credit Union and one major bank and find that the counters at both of these institutions are almost always correct. The Credit Union will only allow me to dump a maximum of $200. per day without charging a fee, so I usually go in almost every day with the max of $200. The bank allows me unlimited dumping. Ocassionally I find that coins that are heavely corroded, bent or damaged may not go through and be counted properly so I try to extract these out before dumping. Whenever the count is off, it's usually less than a $1.00 plus or minus. It's worth it for the convenience of loose dumping. HH

FL Junkman

 

[RW]

After subtracting my keepers the total has always been perfect down to the penny for me. Wells Fargo, free lobby counter.

 

[ronbo22]

A month or so back I dumped some dimes at my pickup bank and it came up $32 short. I usually get bags of dimes there and for the next 3 weeks when I would take to my regular dump bag my 2 bag/week were coming in $120-$140 over so I was making that in profit on each bag. It appears that my pick up banks machine may have been acting up and under counting and overfilling bags. they have it fixed apparantly now cause the bags are coming in spot on now.