The Detroit News

Turn loose change into a practically free dishwasher

Some people say, “ Change is a constant. ” not me. Change is a job. But this time, change is a much release dishwasher.

Reading: The Detroit News

For you — if you do n’t mind making a short effort — change could be a newly television receiver, pill computer, fancy dinner out or weekend pickup. Or newly tires, the future payment on the kids ‘ summer camp or a substitute for the blow water heater. The U.S. Mint churned out about 13 billion regular circulation coins concluding year, including 7.92 billion pennies. How much of that ended up sitting in car ashtrays, desk trays, coffee bean cans, forgotten piglet banks or strewn across the cold corners of countless bedroom dressers is a mystery. But we do know that in 2005, Edmond Knowles set a modern record for the largest individual sediment of pennies. The 62-year-old coach of Ed ‘s Service Station in Flomaton, Alabama ( population : 1,425 ) cashed in 1,308,459 pennies ( that ‘s $ 13,084.59 for decimal-challenged readers ). The collection filled four 55-gallon and three 20-gallon petroleum barrels in his garage, and weighed in at more than 4.5 tons. My collection of change was n’t about that big. Gathered over the years, the coins lurked in a chocolate can on my workbench, an outsize Micky and Minnie Mouse glass cookie jar in the bedroom and a Contact-paper-covered Pringles can my mother stick on my dresser in high educate. It all ended up deck into a bucket after we moved to Michigan 10 years ago. When it was rediscovered in a water closet, we found 60 pounds of coins. Yeah, I told my wife, the long-sufferance Mrs. Funny Money, we need to do something with that. Which, of class, we did n’t. That is, until the dishwasher went on the fritz, regularly exchanging the dirt on the cup with the dirt from the plates. We ‘d just emptied the home-improvement fund for a fresh over-the-counter microwave, which meant we ‘d be handwash for the meter it took to save up for new dishwasher. A financially creditworthy move, certain, but it was frustrating that we could n’t get all the kitchen appliances to acceptably function at the same fourth dimension. But we did have that bucket of change. How much would it be worth ? According to the Coin Jar Calculator at www.coincalc.com, about $ 450. That would make hassling with all those coins worthwhile. The project took on add importunity when we saw two special offers on the dishwasher we ‘d picked out : a $ 90 temp discount rate, and a manufacturer ‘s rebate for the full $ 149 initiation monetary value from Lowe ‘s. But that $ 239 in discounts expired in less than a workweek, which meant we faced marathon coin-counting sessions if we were going to make it. We knew one choice was the Coinstar machine at Kroger, but that would besides cost us a 10.9 percentage process fee. Our deposit does n’t have a coin-counting car, and would charge an unknown fee for tellers to roll the coins by hand. We could buy a small coin-counter on-line, but with shipping the cost would be $ 30 or more, plus the wait clock. But it was either pay to get it done, or get out the composition wrappers and start clearing off the dine board mesa. And the kitchen table. And the pool board. And probably part of the driveway. But there was a work-around. If we took a gift circuit board from the Coinstar machine alternatively of a cash voucher, there was no fee. Along with cards from Amazon.com, AMC Theaters, Staples, Starbucks and Toys R Us, was a giving card to Lowe ‘s. With salvation in view, the entire Funny Money kin trucked to the grocery store on Memorial Day, with plans to head straight to Lowe ‘s subsequently. The theme was to create a real-world money example for my male child, Funny Money Jr. or, as I call him, Li ‘ liter Money ( ‘cuz that ‘s all he leaves us ). We lugged the exchange in two boastfully buckets, to spread out the system of weights. The Coinstar machine churned efficiently, if noisily, through most of the beginning bucket. It rejected a count of U.S. coins, along with respective canadian ones ( a gamble of sharing a border with Windsor, Ontario ), vitamin a well as a dutch penny and one game nominal from Chuck E. Cheese ‘s. closely all the U.S. coins were accepted when we redeposited them. then, after 12 minutes, the machine abruptly shut down and spit out a cash voucher — deducting more than $ 25 as a march fee. thus much for a valuable money example. I cashed the voucher and called Coinstar the future day. If the car encounters a problem, a example told me, it ‘s supposed to generate a voucher and waive the fee, which she cheerfully agreed to refund, after promising to dispatch a haunt person. That night I lugged the remaining coins to another machine and they processed precisely fine. In less than 20 minutes, the 4,855 coins — including 2,899 pennies — were converted to a Lowe ‘s certificate worth $ 238.04. here ‘s how it broke down : $525.96 — appliance monetary value after price cut and rebate

$474.10 — processed coins, including refunded tip $51.86 — counterweight We had $ 16.67 on handwriting from recycled cans which, after adding our whopping $ 43 state income tax refund, covered the sum cost of the dishwasher after the rebate, with $ 7.81 to spare. It besides meant we grabbed a full of $ 229 in discounts and rebates, or 30 percentage of the full original monetary value. The value of the ransomed coins had come to about $ 25 more than the Coin Jar Calculator estimated. We ordered the dishwasher, paying with the certificate and putting the balance on a rewards credit card. then I deposited the cash and immediately paid that toward the charge. That leaves just the cost of the initiation, which gets paid when the rebate arrives. It ‘s in the shape of a endowment card, so we ‘ll buy groceries with it and send the cash we would have spent to pay off the final balance. If the rabbet does n’t arrive during the recognition card grace period, we might be out just a spot in interest charges, but we received closely 500 rewards points, besides. Was it worth the hassle ? All it entailed was some on-line research, two trips to the grocery memory and making the lodge at the bank. In exchange, we got a $ 755 appliance which, besides the coins, price us fair $ 52 from other assorted sources. If we had n’t spotted the deals offered, those coins would inactive be sitting in the wardrobe, basically despicable. so, to my mind, we snagged a brand-new dishwasher with a five-year extensive guarantee and facility for merely 7 percentage of the total original cost. For most purchases, I do n’t normally resort to full facade frugality but, yeah, this was worth it. One final examination note : Coinstar estimates there ‘s $ 7.7 billion — yes, “ billion, ” with a “ B ” — sitting dormant in the United States. thus go weigh that penny jar. boconnor @ detroitnews.com ( 313 ) 222-2145 chitter : BrianOCTweet Other free options Some national and local banks and credit unions offer coin-counting, either for free or at least less than Coinstar, including : Big banks: PNC Bank and TD Bank offer coin-counting machines loose to customers. BB & T counts the first $ 25 for free, then charges a 5 % tip. Noncustomers pay 5 % at PNC ; 8 % at TD Bank ; and 10 % at BB & T. Wells Fargo says some of its branches in the UP have coin counters but does n’t say if a fee is charged. Bank of America sends your change out to be counted for rid, then credits your account. Local banks: Talmer Bank and Trust has free machines at some branches, for customers only ; Fifth Third Bank has unblock machines at some branches and charges 5 % to non-customers ; Flagstar Bank sends change out to be counted in 3-5 business day at no cost, for customers lone ; TCF Bank offers coin-counting machines in all its Michigan branches, free to customers and with an 8.9 percentage fee for non-customers. Credit unions: DFCU Financial has Coinstar machines at the Livonia ramify and the Fairlane branch in Dearborn, charging 8 %, less than the criterion Coinstar tip ; Michigan First Credit Union has release machines for customers at all Detroit branches, including the Wayne State University outgrowth open in August ; Genisys Credit Union has counters for customers only, free up to $ 50 a day and then charging 3 % on any balance, at the Crooks Road branch in Rochester Hills and the Pontiac and Auburn Hills branches. Charity: If you donate to one of eight charities via Coinstar, the machine waives the tip. The charities are the American Red Cross ; Change Making Change ; Children ‘s Miracle Network Hospitals ; Feeding America ; The Humane Society of the United States ; The Leukemia & Lymphoma Society ; UNICEF ; and the World Wildlife Fund.

Children: Is n’t this why you had kids in the first base place ? ( OK, this and lawn maintenance. ) If the kids want the trip to Cedar Point, just say, “ Roll ’em ! ” Most banks will give free coin wrappers. Sort-of free: Use some of your coins and get an Amazon.com endowment poster through a Coinstar machine, and buy a coin-sorting machine or tubes. Use the car to roll the rest of the coins, and sediment at your savings bank. Most institutions accept change only from account-holders. Sources : MyBankTracker.com, Detroit News inquiry

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