Have you ever stopped to think about how much money could be scattered around your home in the form of loose change? Whether you keep it corralled in a small bowl, carefully stored in a big jar, or it’s just rattling around the bottom of your junk drawer, your coin collection could be serving a number of better purposes!
Many businesses have encouraged card-only payments, so it’s easy to assume there’s not much you can do with all that loose change you have lying around. But I disagree, and I’ve got 7 ideas to share with you that will back me up! :-)
7 Things You Can Do With Your Loose Change
1. Take It to a Coin Counting Machine
Coin counting machines like Coinstar are probably the most well-known way to exchange coins. The premise is simple—dump your loose change in, the machine counts them, and you can choose to get the amount in cash or as a gift card.
Using a Coinstar machine isn’t necessarily the best bang for your buck if you choose the cash option due their fees (11.9% service fee + $0.25 transaction fee). But you can keep 100% of the value of your coins by choosing to put it on a gift card, and they have a lot of options to choose from (including Amazon gift cards).
If you’re set on getting the full value of your coins in cash, you’ll have to do it the old fashioned way by sorting it yourself and taking it to your bank. (But hey, as least the coin wrappers are free!) Note: Some banks now have coin counting machines that are free to use if you have an account there.
2. Use It While You’re Out
Between parking meters, highway tolls, laundromats, public transportation, and even gumball machines, there are plenty of places that still accept (and encourage) coins. Keep a bag of loose change handy to use when opportunities like these arise (but keep in mind that most machines don’t accept pennies.)
Bonus Tip: Those little drawstring bags you get with new pairs of sunglasses make great coin purses.
3. Tip With It
The next time you get coffee or food to take away, toss some of your spare change into the tip jar. Ideally that handful would have at least a few quarters in it, but any amount will help show your appreciation.
Tipping with change is also a lot less likely to inconvenience the people working the counter than paying with change. Tips don’t need to be counted right away, especially when there’s a line of other people waiting to be helped.
4. Go Through Self Checkout
Another way to use loose change without slowing down a checkout line or monopolizing a cashier’s time is to use it in the self checkout lane. The machine doesn’t care how many coins you use, so you won’t be inconveniencing anyone unless there’s a long line behind you.
5. Hit Up the Vending Machine
While the odd vending machine no longer accepts coins, the vast majority still do. The next time you spot a vending machine, use some of your coins to buy a snack or drink!
You can always save your snack for later if you don’t want right away. Or why not buy your sweetie’s favorite snack and take it home for them? (Nothing says “I love you” like bringing someone their favorite treat just because!)
6. Start a “Swear Jar”
Whether you use it to discourage potty language or some other bad habit, a “swear jar” system can help you or others change unwanted behaviors. You can decide on the “fee” owed for each incident, and once the bad habit has been conquered, you can use the money collected in the jar as a reward!
The swear jar concept also works well for getting young kids contributing to housework by completing basic chores. Just toss a coin in the jar for each task they complete, then use the money to treat them to ice cream at the end of the week.
More Ideas You'll Love
7. Give It to the Kids
Nobody is more thrilled about getting cold hard cash than kids (whether they’re your kids, your kids’ kids, or even your neighbors’ kids!). Incorporate coins into holiday activities for the kids, such as hiding some inside plastic Easter eggs, tucking them into Christmas stockings, etc.
Even babies can get in on the action—add a few pennies to a small food storage container to make a makeshift rattle. (Just be sure to seal it up tightly enough that baby hands won’t be able to pry it open, as individual coins present a choking hazard.)
How do you put your spare change to good use?
Be sure and take a look at your coins before cashing them in or using them to pay for something. Nickels, dimes and quarters minted prior to 1964 are made up of 90% silver. Something that is gaining value by the week, these days.
Please log in or create a free account to comment.I take at least $20.00 worth of rolled quarters with me when I go on a cruise vacation. The crew members have to pay to do their laundry on board and this is a small token of appreciation for the room steward. I leave this in the room, with a note or card & usually some snacks, on the last day, right before I disembark the ship. This is not a replacement for the standard gratuity, just something extra to show my appreciation for all of the hard work to keep my room tidy during my stay.
Please log in or create a free account to comment.We always put change in Easter eggs for our egg hunt. We add it to the small candy and do some with just change. The kids always love it.
Please log in or create a free account to comment.I wouldn’t use the change for self checkout. Most of them require a credit/ debit card.
Please log in or create a free account to comment.I never spend my change. I have been saving it for years. Years ago it allowed me to buy a 100 oz bar of silver. I roll it after I get a bunch saved. I call it my emergency fund or I sure would like to have that fund. It is fun to watch it add up.
Please log in or create a free account to comment.I save mine all yr then cash it out for Christmas now. When I was married we both would save it n it would pay for our vacation to the mountains, we would have anywhere from $1200- $1500. That’s alot of change
Please log in or create a free account to comment.I occasionally will use a coins to cash type machine when I get a lot of spare change. The one at work takes a small $1-2 fee out of what you turn in. Unfortunately ours doesn’t have the gift card option . I use the cash I accumulate from this for spending $ for traveling and all for a fund to pay for Christmas presents. I started doing this several years back when I was trying to figure out a way to save for these type of things.
Please log in or create a free account to comment.I used to wrap it up in foil and put it in the kids birthday cakes just before icing it. They would love finding the “cash” in their piece of cake. Put different denominations and put lots to ensure everyone gets at least a coin.
Please log in or create a free account to comment.An old family friend used to do this with her cakes. One of my siblings found a coin in their piece of cake . She then decided to keep doing it because the kids had talked about it. This lady was a dear friend and like a Grandma to our family. She had actually known my mom’s family growing up and was good friends with my Grandma when she was alive.
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