Last Updated on 09/24/2020 by GS Staff
Q: Does Coinstar take pennies in their machines?
Yes, Coinstar takes pennies. However, the machine won’t accept 1943 steel pennies if you happen to have one or some. You’ll know it’s steel if it sticks to a magnet. Most pennies were made of steel in 1943, but a few were made out of cooper-alloy. If you have a 1943 copper penny, don’t put it in a Coinstar machine. It could potentially be worth greater than $50,000! Even the more common steel pennies can have some value above face value.
Coins Not Accepted by Coinstar
In addition to the 1943 steel pennies, Coinstar does not accept the following coins:
- Eisenhower silver dollars
- Pure silver
- Commemorative coins
- Foreign coins
If you place any of the above coins in a Coinstar machine, they will be returned to you in the return slot.
Coinstar Fees
We have a full article on Coinstar fees. Check it for more details on what you potentially may be charged at a Coinstar kiosk. However, we will highlight what you need to know here.
Generally, an 11.9% processing fee applies when you opt to receive cash for your coins. Fees can vary based on the location, however. As an example, you will only receive $17.62 for $20.00 in coins if you are charged the 11.9% coin processing fee for cash at a given kiosk.
Coinstar – No Fees
Generally, Coinstar does not charge a fee if you opt to take an eGift Card instead of cash for your coins. You can visit coinstar.com/giftcards to see the options of available gift cards. Some of the notable ones are Amazon, Home Depot, Lowe’s, Starbucks, Steam, Sephora, and iTunes. Keep in mind that these eGift cards are paper with a unique code printed on them for use online or in stores. You will not receive a fancy plastic gift card as you might buy at a place like a grocery store or drugstore.
You can also donate to a selection of charities for no fee as well. Some of these charities include The American Red Cross, Children’s Miracle Network Hospitals, Leukemia & Lymphoma Society, and The Humane Society. See the full list of charities you can donate to here. Be sure to save your receipt if you select this option for tax purposes.
Finding a Coinstar Kiosk
Visit coinstar.com and click “Find A Kiosk” in the upper right header of the website. Type in your zip code or address to find a kiosk near you. Click “Details” of the kiosk you wish to use to see the eGift card brands and charities you can donate to at that particular kiosk. Not all kiosk have the same options.
Sources:
coinstar.com
Image – Mike Mozart/flickr
