Sunday, March 25, 2007

Got loose change? Thinking of going to Coinstar? Forget about it. Save yourself 9%.

According to Coinstar's 10-K filed with the SEC Americans processed $2.6 billion worth of coins through their machines in 2006. Their typical transaction fee is an outrageous 8.7%! That means that Americans gave Coinstar a fairly hassle-free $226 million last year. Now not all of that went to Coinstar; they had to split some of it with the retailers that carry their machines and some also went to their gift card partners like Home Depot. But the reality is there is no reason for any of us to be paying Coinstar a single penny.
The Armchair Fiduciary has discovered a fantastic website called The Coin Counting Home Page. In Armchair Fiduciary-like altruistic fashion this kind individual has put up a site that includes cheap and or free coin counting machines locations in all 50 states. So stop paying outrageous fees to consolidate that loose change and get over to!

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