CoinStar continues to awe us collectors!

joeykoins · January 9, 2017 8:57AM

Hi guy's, Do you think CoinStar and/or the CoinStar customers will ever catch on to us collectors receiving all these little gifts in their coin return bin? Will CoinStar ever fix the problem of so many returned coins shot back into their bin? or will the customers ever wake up and take that glance below to see what they are leaving us in the bin? I think, CoinStar will make it more obvious to the customer to check the " treasure bin" that is making us collectors happy and profiting from not taking the time to check the bin.

silverpop · January 9, 2017 8:59AM

high doubt

joeykoins · January 9, 2017 9:06AM

Can you imagine if CoinStar ever would get on to our forum and read about what's going on? Remember, not only the customer is losing out but so is CoinStar.

ctf_error_coins · January 9, 2017 9:20AM

At 10.9% they are making a killing, why go after the little stuff.

Weiss · January 9, 2017 9:38AM

Technically it's not theirs to worry about. Coins are rejected.

They are the property of the person who put them into the machine up until the point that person abandons them.
They are the property of coinstar up until the point that coinstar rejects them. Coinstar can't keep these if they aren't compensating the original owner--at least not without an agreement. At best that would be a major complication to their business model, at worst it's theft.
They are conceivably the property of the store in which the coinstar machine resides--but they have no legal interest in them: they aren't paying for them, they aren't collecting them.

That's what makes the coinstar reject such an interesting game of mental gymnastics. They literally aren't anyone's until you scoop them up and take them home with you.

mariner67 · January 9, 2017 9:49AM

So many life altering finds!

steveben · January 9, 2017 11:27AM

it's their way of giving back.

ms70 · January 9, 2017 11:32AM

I used to work for a bank that contracted with third party company to provide & service their coin counting machines. The reject bin was INSIDE the machine and the service tech would empty the rejects into a separate bag. He said he had to turn them in but didn't know where they went after that.

Rob85635 · January 10, 2017 6:41PM

I personally hope they don't change anything. I found a 64 Roosevelt about a month ago and my 8 year old daughter has been checking them and found about 12 coins two days ago. She got mostly pennies but did get a 1 peso mexican coin and an elongated coin but I forget where it was from. She was ecstatic.

craZ4coins · January 10, 2017 8:14PM

@mariner67 said:
So many life altering finds!

Guess I missed it - - all I have ever seen here is a bunch of disgusting disease-infected cents and a wee bit 'o silver.

yosclimber · January 10, 2017 8:32PM

It's likely that the technology exists to detect the 90% silver coins, but:

it would likely be more expensive to add that feature than what they would gain in silver
it might also slow down the detection process

So putting the silver coins in the reject bin could be the profit maximizing solution for CoinStar.

ricko · January 11, 2017 6:23AM

Usually foreign coins (Euro's, Middle East, Mexican)... dirty cents and the occasional silver dime.... yesterday, three zincolns and beat up Jefferson nickel...1974... Cheers, RickO

TwoSides2aCoin · January 11, 2017 6:58AM

The change I found provided enough to feed my children for another day. And here, I wanted ,so badly, to fill a hole in my Whitman. Sigh.

joeykoins · January 11, 2017 12:58PM

@ricko said:
Usually foreign coins (Euro's, Middle East, Mexican)... dirty cents and the occasional silver dime.... yesterday, three zincolns and beat up Jefferson nickel...1974... Cheers, RickO

Just hold on Ricko, you'll get your " Gold bucket at the end of the rainbow" soon!

joeykoins · January 11, 2017 1:00PM

@TwoSides2aCoin said:
The change I found provided enough to feed my children for another day. And here, I wanted ,so badly, to fill a hole in my Whitman. Sigh.

Referring you took your kids to Mcdonalds, than you must of found about $100 in the bin? LOL

joeykoins · January 11, 2017 2:11PM

Has anyone ever find a highly premium coin in CoinStar? In bad condition or great condition? A variety or non-variety? Foreign or U.S.? Like I mentioned, myself, my best was a 1950d Quarter in VG. How 'bout anyone else?

joeykoins · January 11, 2017 6:43PM

Today, I checked my BEST CoinStar. My best, because 3 or 4 times I checked this particular one I've either found a Silver coin and/or I found a handful of U.S. change. Last time, before today's glance, I found about $6 worth of Quarters and some small change! Today, I found 18 Cents, all Lincolns. Ricko, will be glad to hear this. They were all dirty and grimy. Sticking together. I had to soak in some acetone before I louped 'em. They turned out only to be all common. Some newer and some earlier years. Do any of you guy's have a favorite CoinStar mach. that seems to shoot out more coins than other machines? I'll go back in a few days. Betcha' I find another handful.

ricko · January 12, 2017 6:42AM

@joeykoins...That is an amazing coinstar you frequent.... once in a while I will find a handful of coins... largest was face $2.97 I believe.... and those are maybe twice a year.... but other than silver dimes, I have not found any coin of real value... have never checked the foreign coins though. I still have them all.. should do that some day. Cheers, RickO

asheland · January 12, 2017 9:44AM

I've found regular coins, but never silver!

TopographicOceans · January 12, 2017 10:48AM

The CoinStar screen directs the customer to check the reject bin so what else do they need to do?

If you find money (or any other valuable property) you need to notify the police and turn it over to them. If no one claims it after 30 days, then the person who found it gets to keep it.

So if their customer abandons the property and you take it, you are just saving bothering the police and waiting 30 days.

joeykoins · January 12, 2017 12:04PM

@asheland said:
I've found regular coins, but never silver!

Don't worry. You and Ricko's day will come.LOL

joeykoins · January 12, 2017 12:06PM

@ricko said:
@joeykoins...That is an amazing coinstar you frequent.... once in a while I will find a handful of coins... largest was face $2.97 I believe.... and those are maybe twice a year.... but other than silver dimes, I have not found any coin of real value... have never checked the foreign coins though. I still have them all.. should do that some day. Cheers, RickO

Never take advantage of any foreign coin. There are a lot of varieties in foreign coin too. Check a book or ask us.

CoinStar continues to awe us collectors!

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