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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsAmericans Throw Away Up to $68 Million in Coins a Year. Here Is Where It All Ends Up.
At a waste-management facility in Morrisville, Pa., workers load incinerated trash into industrial machinery that separates and sorts metals, then sends them to get hosed down. The reward: buckets of quarters, dimes, nickels and pennies.
Americans toss as much as $68 million worth of change each year, according to Reworld. The sustainable-waste processing company is on a treasure-hunt to find it. The company says that in the seven years since it started the effort, it has collected at least $10 million worth of coins.
Coins are as good as junk for many Americans. Buses, laundromats, toll booths and parking meters now take credit and debit cards and mobile payments. Using any form of physical currency has become more of an annoyance, but change is often more trouble than it is worth to carry around. The U.S. quarter had roughly the buying power in 1980 that a dollar has today.
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Because coins can be hard to spend, they circulate slowly through the economyor dont circulate at all. More than half of the coins in the U.S. are sitting in peoples homes, according to the Federal Reserve. Many coins are also getting left behind. At airport checkpoints, the Transportation Security Administration collects hundreds of thousands of dollars worth of them each year. Coins are left in couch cushions or cars, then sucked into vacuums and sent to landfills, said Dominic Rossi, Reworlds director of finance and business support.
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People tend to bring their extra change to the bank to trade in, but it is getting harder to do even that. Capital One and PNC removed their coin-counting machines about a decade ago due to low customer use. In 2016, TD Bank pulled the plug on its coin-counting machines after an investigation found that it was giving customers less money than they were putting in. Today many people cash in their coins at Coinstar kiosks in grocery stores and gas stations. The company has said it operates over 24,000 kiosks across the country and has processed more than 800 billion coins.
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kimbutgar
(21,181 posts)Easily a couple of hundred worth!
mercuryblues
(14,537 posts)for free, if you get a gift card. Amazon is the only one that I saw that charges a transaction fee.
You can even donate it to charity.
https://www.coinstar.com/giftcards
kimbutgar
(21,181 posts)Elessar Zappa
(14,033 posts)Silver mining was going through the slot machines in a casino and collecting coins left behind. A friend of my dads was homeless for a while in Vegas in the late 80s and could make $70 a day going through the casinos and collecting coins. He actually saved up enough of the cash so he could eventually rent an apartment and get an actual job.
StarryNite
(9,459 posts)Good for him.
Maraya1969
(22,494 posts)on the walls and we got money a lot. I remember my dad saying he thought it was because we did it at the airport and a lot of people would be rushing out to catch a flight and forget or just leave the change there.
meadowlander
(4,402 posts)to see if we could find enough change to buy tickets. More often that not we found enough for popcorn too just from people dropping coins as they got in and out of their cars.
Hermit-The-Prog
(33,403 posts)"No deposit - no return" killed that bit of recycling.
Emile
(22,886 posts)Walking around and reading gravestones, I found one that had probably 20 dollars in coins on the stone. They were all clad coins, no silver. I'm surprised no one has taken them.
question everything
(47,521 posts)These coins arent thrown on these gravestones just becauseinstead, theyre honoring and showing respect for dead soldiers. So one reason you shouldnt remove them is that it disrespects that gesture and also might upset living family members if they notice.
https://parade.com/living/coins-on-gravestone
Emile
(22,886 posts)a few quarters myself.
DFW
(54,436 posts)I didn't this time, since I won't be in many situations where I will be visiting a retail establishment, but in the summer and in December, I usually carry a bag full enough of American change that airport security makes me remove it so they can see what the weird metal shape was.
My wife and I HATE credit cards, and we pay cash whenever we can, putting our coins back into circulation whenever possible. It beats giving Mastercard or Visa (or whoever) 3.8% of the transaction, thus taking it out of the pocket of the retail shop.
erronis
(15,328 posts)Even in a coffee shop someone ahead of me will swipe a card for a $2 cuppa. And be forced to enter a tip into the machine.
I'll ask the barista "Do you still accept cash?" and s/he'll smile and say yes - and Thank you. And I leave a nice tip.
Hate having my every transaction monitored by these corporate/international snoops.
maxsolomon
(33,384 posts)We've always been change-collectors, and about once a year, we turn it in at a Coinstar machine. Usually about a $100; enough to pay for a grocery trip (or it used to be).
I also pick pennies up off the ground. Find a penny, pick it up...
keithbvadu2
(36,886 posts)2,000 years from now, some hunter/gatherer family will be digging potatoes out of the ground in the midwest and find these old 20th century coins with our emperors' faces on them.
One their old folks (35) will tell tales he heard when he was a young'un.
Buns_of_Fire
(17,193 posts)send Devin out there with a metal detector and have him do something constructive for the first time in his life. You get money to pay your legal people their pennies-on-the-dollar, Devin gets some fresh air, and the cow gets a break from having Devin's clammy hands touching it. Win-win-win.
Aristus
(66,446 posts)In addition to finding the usuals, clothing and appliances to give to Goodwill, we found several heavy bags of coins that I guess he had never decided what to do with. I took them to the local CoinStar machine and scored close to $400 in cash. I would rather have had my father-in-law back (sweetest, nicest man in the world), but at least the coins didn't end up in a landfill.
BlueWaveNeverEnd
(8,035 posts)there was a treasure trove of coins there. Even the vacuum hadnt reached that area