What is Coinstar?
Coinstar is a coin-counting or coin-cashing machine manufacturer and operator based in the United States. It was founded in the year 1991, and runs from its headquarters in Washington since then. Coinstar specializes in the conversion of loose change into paper currency, as well as donations and gift cards, through coin counter kiosks that charge a fee for coin to banknote conversion.
How Coinstar works?
According to the official website of Coinstar, the process to change coins into banknotes or gift cards is summarized into the following simple steps:
Step 1: Clean your coins and pennies of any dirt or debris that may clog the coin tray or obstruct the counting process, and make sure your coins are dry.
Step 2: Choose one of the three options displayed: Cash (which will charge approx. 11.9% exchange fee), No Fee eGift Card, or a donation to one of your chosen charities.
Step 3: Toss your coins into the slot by lifting the handle.
Step 4: Look at the return tray for any coins that may have been rejected. When all coins have been counted successfully, you’ll be given a cash voucher or an eGift Card with a unique code printed on the front. You’ll get a receipt for your donation if you choose charity.
Step 5: Provide the cashier with your voucher and redeem accordingly,
If you opted for cash, ensure to redeem the cash voucher the same day itself from the cashier. If you opted for the eGift Card, you can shop with the voucher anytime at the retail store or online using the unique code printed on the top of the voucher. If you opted to donate your coins to a charity, keep the receipt for your own record.
Where to find a Coinstar kiosk?
Coinstar coin-cashing kiosks are generally green in color and approximately the size of a big vending machine. They can easily be found at your nearby grocery store, banks, some drug stores or other retail establishments. Coinstar kiosk services are offered in Canada, Ireland and UK along with the United States, accepting currency of the country they are located in.
Which coins are accepted by a Coinstar kiosk?
The kiosks located within the United States accepts all monetary denominations right from one cent to one dollar, with the exception of 1943 steel cents and Eisenhower Dollars.
List of things that are not accepted by Coinstar kiosks
Eisenhower silver dollars, pure silver, commemorative or foreign currency and 1943 steel pennies are not accepted by Coinstar. Also things like keys, jewelry, and other valuables should not be brought into the kiosk, as they will get returned to you. An elaborate list of all things unacceptable to Coinstar can be found on their website.
Where can you exchange your Canadian coins?
Simply going to your local bank is a secure and dependable way to cash in your Canadian coins. Your Canadian pennies will be accepted by any large corporate bank. However, make certain that they are wrapped up or rolled before bringing them to the bank for exchange.
Canadian coins are not accepted at Coinstar kiosks in the United States. Coinstar vending machines, also known as kiosks, only accept currency from the country in which they are located. Coinstar kiosks in Canada, on the other hand, take Canadian coins, which can be exchanged for either banknotes or gift cards.
Does Coinstar charge you to use its kiosk?
If you opt to cash in your coins at the kiosk, there is an 11.9 percent coin processing charge. Fees may differ depending on different locations.
How to exchange your coins without any fee?
Most Coinstar establishments in the United States provide free coin counting if you exchange your coins for an eGift Card.
Does Coinstar accept foreign coins?
Foreign coins are not accepted by a Coinstar kiosk, and the coins may get returned to you.
Is it necessary for one to sort through their coins before using it in the Coinstar kiosk?
You do not have to sort or count your coins before putting them into the kiosk. Just make sure the coins are clean and dry before inserting them into the tray.
Can you exchange your coins for cryptocurrency at a kiosk?
Some Coinstar kiosks had Coinme installed into them recently, which enables people to exchange their coins for cryptocurrency. However, all kiosks do not have this service available.
