Most people I know have a stash of change that never gets used. It sits there and amasses gradually, and it never seems to stop growing. Sometimes I forget that the mason jars on my dresser are actually holding money -- they've been there so long they seem like knickknacks that belong there as part of an artistic display.
(photo credit: expandmywealth.com)
I think many people just don't know what to do with these antiquated hunks of metal that can still buy things! If you're a member of Michigan First, it's easy: members can use the coin counting machines free of charge to convert their change into dollar$. But since some financial institutions don't take kindly to someone dumping a bunch of change on the counter as a deposit, GetRichSlowly.com has compiled a list of tips you can use to turn those piles of loose change into cash you can use!
1) Shop with it!
Coins ARE legal tender. While no one is suggesting you go and purchase a $50 pair of shoes in all dimes, there's nothing wrong with using change to purchase small items like gum, soft drinks, candy (or a toothbrush).
2) Keep some in the car
You never know when you'll need to pay for parking or scrounge up a handful for an emergency Slurpee at 7-Eleven.
3) Donate it
No charity will turn away the extra coins you toss in the donation boxes or the church plate!
4) Deposit it
If you venture to your financial institution, throw in $2.00 or so worth of change each time. Tellers usually won't gripe about counting so little an amount at the window, and it's your money anyway!
5) Roll coins yourself
Warning: not every financial institution accepts rolled coins. Find out if yours does, and then roll them yourself! The time and effort it might take is nothing compared to the feeling of satisfaction when you deposit that $12.00 worth of change! (Right?)
Of course, you can always use those automated coin-counters that charge a percentage fee. But if you're REALLY into saving money, these contraptions aren't for you -- so try out a few of the tips above! HAIL LITERAL PENNY PINCHING!