Cash in Those Coins: Where Can I Change My Coins for Cash for Free?

where can i change my coins for cash for free

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Table of Contents

Do you have a significant amount of coins and don’t know what to do with them?

You can cash in your coins at the supermarket or the bank, but some usually charge a service fee.

You probably wonder, “Where can I change my coins for cash for free?”

I can help you.

I wrote this guide to show you the best places to exchange coins for cash without spending a dime.

Where Can I Change My Coins for Cash for Free?

Here’s a list of where to exchange coins for cash.

JPMorgan Chase

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You can deposit your coins to your JPMorgan Chase account.

JPMorgan Chase encourages customers to deposit coins to help alleviate coin shortage.

However, not all branches accept coin deposits.

Check their branch locator to see if local banks allow you to cash in coins.

Your branch can accept them if it doesn’t have a No coin transactions notation on the website.

Some Chase locations also offer notary services to clients if that’s what you need.

Pros

  • It’s free if you are a JPMorgan Chase account holder.

  • They also convert coins for non-account holders but may charge you a fee.

Cons

  • They only accept rolled coins.

  • Not all locations accept coin deposits.

Bank of America

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Bank of America converts coins to cash for free, but you need an account with them to enjoy that service.

Present your coins to the teller in full rolls. Otherwise, they won’t accept them.

Can I use a Bank of America coin counter? Unfortunately, Bank of America no longer provides coin counters in their branches.

Pros

  • Converts coins for free for customers.

  • It has branches almost everywhere.

Cons

  • You must roll the coins before giving them to a teller.

  • You must be a Bank of America account holder to convert coins to cash.

US Bank

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US Bank converts coins into cash free of charge for account holders.

They don’t require you to roll your coins, so you can just hand over a bag of change. They’ll do the sorting and counting themselves.

Select branches also have self-service coin-counting machines.

Pros

  • There is no need to sort, count, and roll coins yourself.

  • Free of charge for US Bank customers.

Cons

  • You must be a US Bank account holder to convert coins to cash.

Wells Fargo

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Wells Fargo banks offer free coin exchange services for bank members.

They require rolled coins if you want to convert them into cash.

Some branches also let you access free coin-counting machines in their lobbies.

You may open a business account and sign up for their coin deposit service if you have a small business.

This service doesn’t require you to roll coins for exchange.

Pros

  • Free coin conversion for bank members.

  • Opening a business account and enrolling in their coin deposit service doesn’t require rolled coins.

Cons

  • You must be a Wells Fargo account holder to convert coins to cash.

  • They require rolled coins if you want to convert them into cash.

Citibank

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Citibank can cash coins for paper money, but only for bank members.

They require rolled coins if you need to cash in your coins.

Some branches will charge you a service fee. I recommend calling them first before going to the branch.

Pros

  • Converts coins to cash, but only for Citibank members

Cons

  • Charges service fees, which can vary depending on the location

  • Only accepts rolled coins

Citizens Bank

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Citizens Bank lets you convert loose coins amounting to below $20.

If you want to convert more, you can present rolled coins amounting to $20 or more.

You can either have them deposited into your Citizens Bank account or exchanged for cash.

Some branches also provide free coin wrappers.

Pros

  • Accepts loose change or rolled coins.

Cons

  • Only converts loose change worth up to $20.

  • Roll your coins first if you want to convert more than $20.

Manasquan Bank

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A New Jersey-based bank, Manasquan Bank offers self-service coin machines in most, if not all, branches.

Check out their branch locator to see if your local credit union or bank has a coin exchange machine.

Pros

  • Has several branches all across New Jersey.

Cons

  • They don’t have branches in other states.

Suncoast Credit Union

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Based in Florida, Suncoast Credit Union exchanges coins for free for bank members.

Pros

  • It has several branches all across Florida.

  • Free coin conversion for account holders.

Cons

  • They don’t have branches in other states.

Penn East Federal Credit Union

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Based in Pennsylvania, Penn East Federal Credit Union offers free coin-counting services to account holders.

Members can use a coin machine in their branches for free.

Non-members have to pay 2% as a fee for these coin exchange services.

Pros

  • Free use of coin-counting machines for bank members.

Cons

  • They only have a handful of branches in Pennsylvania.

  • Non-account holders pay 2% as a small fee for converting coins to cash.

  • No branches in other states.

American Eagle Federal Credit Union

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Based in Connecticut, American Eagle Federal Credit Union has coin-counting machines in all branches except Manchester, Newington, North Haven, and Farmington.

Account holders can use these machines for free, while non-members have to pay a 10% service fee.

Pros

  • Members enjoy free use of coin-counting machines.

  • They have several branches all across Connecticut.

Cons

  • Non-account holders must pay a 10% service fee to cash in coins.

  • No branches outside of Connecticut.

  • Four branches don’t have coin-counting machines.

Coinstar

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Coinstar coin-counting machines are seen in several restaurants, grocery stores, drug stores, retail stores, and some credit unions.

You’ve probably already seen a Coinstar machine in your local store, such as Kmart, Walmart, CVS, Target, Safeway, and Shoprite.

Safeway has more than 900 branches all over the country. You can buy in-store or online and get groceries delivered to your doorstep.

On the other hand, you can find ShopRite stores throughout Connecticut, Delaware, Maryland, New Jersey, New York, and Pennsylvania.

Walmart also has Coinstar spare change counters. Most branches have a Money Center for checking checks and accessing financial services, such as money orders or transfers.

Just dump your coins into the bucket and wait for the machine to count all of them.

Once done, you can get your money in cash or an eGift card.

Using the coin-counting machine is free. However, it charges 11.9% if you want to cash out your coins for paper money.

Pros

  • No need to roll your coins.

  • Kiosks are available in numerous locations all around the country.

  • The Coinstar kiosk is available in countries like the UK, Ireland, Canada, Germany, Italy, France, Japan, and Spain.

  • Most, if not all, Coinstar kiosks let you convert coins into cash, gift cards, or charity donations.

  • Check out their kiosk locator to see if you have one nearby.

Cons

  • Charges 11.9% of your money if you cash out your coins in paper money.

QuikTrip

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QuikTrip has gas stations and grocery stores in more than 800 locations all across the Southeastern, Midwestern, and Southern US.

You can cash coins at your local QuikTrip gas station for paper money or gift cards. They won’t charge a fee for this service.

Pros

  • Hundreds of branches spread throughout the Southeastern, Midwestern, and Southern US.

  • Their coin exchange service is free.

  • If a branch doesn’t have enough cash for your coins, they convert them into a gift card instead.

Cons

  • Only available in 11 states

How To Roll and Wrap Your Coins

Now that you know where to cash in coins and where to deposit coins, it’s time to learn how to roll and wrap your coins the right way.

Many banks and credit unions only accept coin rolls to change to cash, so learn how to wrap them up correctly.

Here’s how to roll and wrap your coins.

  1. Buy some coin paper wrappers from your local store and sort your coins by value.

  2. Place a stack of coins at one end of a coin wrapper.

  3. Line your coins up neatly, facing them in one direction.

  4. Fold the wrapper over the coins and press firmly on the edges to create a secure seal.

  5. Keep rolling until all the coins are in place.

  6. Label the wrapper with the type of coin and the total amount.

Tips for Maximizing Your Change

You’ll have less loose change in your piggy bank or coin jar to worry about if you follow these tips:

Minimize Your Cash Spending.

Use cash only for emergency purposes.

Use mobile banking or your bank card instead for daily purchases and transactions, making tracking your expenses easier and minimizing your cash spending.

Keeping your money in the bank allows it to accumulate interest instead of just sitting around in your house and losing its value.

Use Your Coins.

It’s never fun carrying coins around. They’re dirty and heavy, making loud jingling noises while you walk around.

However, coins are legal tender that you can use coins to buy food, drinks, or transport fare.

Roll Coins Regularly.

If you prefer using cash, I recommend occasionally buying coin wrappers and rolling up spare change to avoid accumulating mountains of coins at home. You’ll also have an easier time spending or exchanging the wrapped coins for cash.

Use Your Change When Paying Debts.

As mentioned earlier, coins are as good as paper money.

Consider using coins to pay for credit card bills or student loans.

You can also save money by putting them into your savings or investment account.

Donate Your Coins To Charities.

Give back to the community by donating your coins to a charitable institution.

Most Coinstar machines let you choose to donate your coins to the following charities:

  • World Wildlife Fund

  • UNICEF

  • American Red Cross

  • Make-A-Wish

  • National Association for the Advancement of Colored People

  • Children’s Miracle Network Hospitals

  • Feeding America

  • The Humane Society of the United States

Charitable donations are tax-deductible, even in the form of loose change.

Keep your receipts if you decide to use your coins for charitable donations.

Sell Valuable Coins.

If you have the time, take a closer look at your coins. Some might be valuable or rare, so they can be worth much more than their face value.

The Chicago Gold Gallery says that some things to watch out for when identifying valuable coins are:

  • The condition of the coin

  • Mintage number

  • Missing elements or typographical errors

If you find one that looks rare, take it to a coin appraiser to determine if it’s valuable.

Frequently Asked Questions (FAQs)

Where Is the Best Place To Exchange Coins?

I used to ask myself, “Where can I trade coins for cash?” or “Where can I change loose coins for cash?”.

More than a few banks allow you to exchange coins for cash for free, especially if you have an account with them.

I recommend calling your bank to verify if they charge a coin-counting fee for coin conversions.

What Percentage Does the Coinstar Coin-Counter Take?

Coinstar machines charge 11.9% when you cash out your coins for paper money.

Which US Banks Have Coin Counters?

Wells Fargo, US Bank, Republic Bank, and Manasquan Bank are some banks that have coin counters.

You can check their website’s branch locator to know which bank has a coin-counting machine.

How Do I Deposit Coins at a Bank?

Some banks and credit unions require you to wrap your coins first before they accept them for deposit.

Before heading to a bank, have an account opened with them.

Bring your rolled coins, hand them over to the teller, and ask them to deposit the money directly into your bank account.

Is Coinstar the Best Option for Converting Coins to Cash?

In terms of convenience, Coinstar machines are arguably one of the best options for converting coins to cash.

You don’t need to roll your coins, and it’s free to use as well. Follow the instructions on the screen to get your coins counted.

The coin sorting machine doesn’t take foreign coins and can charge you 11.9% if you convert your coins into paper money.

The Coinstar machine even offers options for using your coins as charitable donations or converting them into an eGift card.

Is Coinstar Worth It?

If you don’t mind paying the Coinstar fee, Coinstar kiosks are convenient ways to exchange coins for cash.

If you have coins at home, you can just dump them all into the Coinstar kiosk, and the coin-counting machine does all the counting for you.

How Do I Avoid the Coinstar Fee?

Instead of cashing out your coins as paper money, convert them into an eGift card so you get every penny’s worth of your cash.

Can I Cash Coins for Paper Money at Any Bank?

Not all stores, banks, or credit unions accept coin deposits or conversions.

Call your bank or credit union to determine if they offer coin exchange services.

Does Chase Have a Coin Machine?

Unfortunately, Chase no longer provides coin-counting machines in their branches.

The Bottom Line

If you’ve got heaps of coins just gathering dust in your piggy bank, now’s the perfect time to turn them into cash.

Exchanging coins for free is a practical and rewarding move. Doing so puts extra money in your pocket while helping declutter your space.

Consider learning how to get free money on Cash App if you’re interested in other ways to get cash.

Written by: Omar Deryan

Founder of OJ Digital Solutions

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