Uncategorized8 September 06 7:05 pm
Out of curiosity, I googled [coins weight] and found some guy that claims that the typical distribution, by weight, of coins that people get as change is:
| Pennies | 28.90% |
| Nickels | 11.60% |
| Dimes | 10.50% |
| Quarters | 49.10% |
I weighed the five gallon carboy 2/3 full of coins, weighed an empty carboy, and determined that I had 84.2 pounds of coins.
According to that distribution, and factoring the weight of each type of coins, I have approximately the following quantities of each type of coin:
| Pennies | 4415 |
| Nickels | 886 |
| Dimes | 1768 |
| Quarters | 3307 |
That totals up to almost $1100! Whoa!
Once we get around to filling this thing up, we’re off on a mini vacation! Boo ya!
(By the way, how do you redeem coins in bulk? The thing at Kroger charges something like 7%, which is too much, in my opinion…)
Get the kids to sort them out and then take them to the bank. To incentivise, offer them a cut (less than 7% obviously).
Comment by Scheherazade — 10 September 06 @ 12:55 pm
Your bank will more than likely turn the coins into cash for you, free of charge, but call before you take them in - some banks require the change be rolled, but others don’t. If you deposit the money instead of getting straight cash, some banks will hold a percentage of the money until they verify that it’s all been counted correctly. I just opened an account at a credit union that doesn’t require change to be rolled before it’s deposited - they have a machine they dump it into that sorts and counts it. Since I had rolled it, though, they held out $5. Which reminds me, I need to call and make sure they gave me the $5 back. Oh, and there are some banks that will require you to label the change - sometimes with your name and address, and sometimes including your bank account number.
Comment by Lauren — 16 September 06 @ 3:47 pm