Ive got an idea

47thelement · Nov 2, 2009

I've got an idea

Here it is...

I buy a "Coinstar Type" machine. I place it in my son's elementary school lobby (with approval). I charge the traditional 8.9% surcharge. but here is the catch... I only get 1%, the schools PTA gets the other 7.9%. and I get all the coins. Oh yeah and I set it to accept silver.

What do you think?

coolpix9 · Nov 2, 2009

Re: I've got an idea

Genius ! I'll bet you can get one placed there. JP

golden silver · Nov 2, 2009

Re: I've got an idea

Now a more generous and big hearted offer is that you give the 1% as well as the profits from the Silver you find. Remember Santa is watching.

Golden silver

obsessedwithsilver · Nov 2, 2009

Re: I've got an idea

That's a great idea. I'll consider this one as well. Anyone have an idea what a decent coin counter will cost.

OWS

Coins4Cheese · Nov 3, 2009

Re: I've got an idea

Also, make sure that the school has a snack bar, or the kiddies won't have any reason to cash in their parents coin collection :laughing9:

Shake-N-Bake · Nov 3, 2009

Re: I've got an idea

obsessedwithsilver said:
That's a great idea. I'll consider this one as well. Anyone have an idea what a decent coin counter will cost.

OWS

$63,000 I looked into buying a few machines. That quickly went out the window.

Also the problem with setting it up to except silver is it will then also except most foriegn if not all, then you are losing by excepting all the junk foriegn. That is why coinstar kicks out the silver.
Jason

AGCoinHunter · Nov 3, 2009

Re: I've got an idea

Another problem is how are you going to convince the school to ack as the "bank" and have enough cash on hand to dole out to the coin machine customers? In theory its a great idea as long as you can convince the school its worth their time and efforts.

I can see it now, little XXX takes dads coin collection in and cashs it in. Dad finds out and contacts you asking for it back. Its bound to happen.

47thelement · Nov 3, 2009

Re: I've got an idea

Oh well! Next Idea....

Rich Hartford · Nov 3, 2009

Re: I've got an idea

It's actually a good idea. Around where I live it's up to the individual school principles to make decisions on fund raisers. I'm sure a few would take you up on the coinstar.
I too looked into the price. Way too much

47thelement · Nov 3, 2009

Re: I've got an idea

Now if it would just spit out bills like an ATM after you put in the coins, then we would be in business. Well except for the purchase price thing, but that is a minor thing. Yeah Right!

cyberdan · Nov 3, 2009

Re: I've got an idea

Piercesdad said:
Oh well! Next Idea....

Last year, when my daughter was still in high school, they had a penny drive to see who could raise the most money. All donations were accepted. I do not know the exact rules but they built it up as a competition. Each class had their own totals. Now I think it was run this way but don't quote me, I had trouble understanding. I am sure you all know when a teen girl starts talking it can reach 100 MPH. Remember this is a penny drive and if someone throws in a coin that is not a penny it counts for them but it takes away from the others. So if a senior tosses in a quarter it counts for the seniors, BUT 25 cents is taken from each of the other classes and put in the senior bucket. Sounds like a bookkeepping nightmare but a good way to raise a lot of coins :hello2:

Now all you need is a coin counter and they are a lot cheaper than $63000

Oh, buy the way I have a good one for sale (shameless plug ::)

)

bocephus · Nov 3, 2009

Re: I've got an idea

will never work

ScoobaSteve · Nov 4, 2009

Re: I've got an idea

What might work is finding out when the lunch lady makes her dump from all of the milk money!!!

TxTim · Nov 4, 2009

Re: I've got an idea

Coin machines in banks get constantly jammed and mistreated when used by adults monitored by trained employees.
How long do you think it would take school kids to destroy the machine?
My guess is 1 day. A can of coke or two may do the trick.
Good luck!

47thelement · Nov 4, 2009

Re: I've got an idea

What might work is finding out when the lunch lady makes her dump from all of the milk money!!!

Uh Steve... I am a lunch lady. Honestly I am and yes, there is a pretty steady flow of silver from the little thieves. About 1-2 coins per week. Sometimes even some old bills also.

cyberdan · Nov 4, 2009

Re: I've got an idea

Piercesdad said:
Uh Steve... I am a lunch lady. Honestly I am and yes, there is a pretty steady flow of silver from the little thieves. About 1-2 coins per week. Sometimes even some old bills also.

It would take more than that to get me to work where you do. I would be spending it all on prozac and earplugs.

How long do you think it would take school kids to destroy the machine?

The kids don't get near the machine. They can have a bucket. But somehow I am sure they will break that too. :wink:

SFBayArea · Nov 5, 2009

Re: I've got an idea

Maybe you can just offer it at a local business instead of a school.. obviously it sounds good that the school gets money but a local business (like a local market) will have more people putting change it... as far as accepting the silver.. that will be the hardest part.. the coin comparator in those machines uses a sample coin to compare against coins that thrown in. You can only accept ones like the sample coin.. so if you set it for silver.. it will reject the copper-nickel clad ones. I'm sure there is a way but you have to redesign it.. you know any engineers? Maybe have a double set of comparators inside.. ones that get rejected by the initial clad comparator will go to another one for silver.. only based on that will the foreign coins be rejected.

AGCoinHunter · Nov 5, 2009

Re: I've got an idea

SFBayArea said:
Maybe you can just offer it at a local business instead of a school.. obviously it sounds good that the school gets money but a local business (like a local market) will have more people putting change it... as far as accepting the silver.. that will be the hardest part.. the coin comparator in those machines uses a sample coin to compare against coins that thrown in. You can only accept ones like the sample coin.. so if you set it for silver.. it will reject the copper-nickel clad ones. I'm sure there is a way but you have to redesign it.. you know any engineers? Maybe have a double set of comparators inside.. ones that get rejected by the initial clad comparator will go to another one for silver.. only based on that will the foreign coins be rejected.

My machines will only accept silver. Makes searching a whole lot easier.