Do you save coins?

@coffeebreak (17798)
United States
March 1, 2008 7:34pm CST
In my blog Coffee Break Whatever Save Money (link in my profile) I talk about times I saved my coins and cashed them in every other month or so and had quite a stash going on there. I think it is a great way to save, easy and something everyone can do.. So....do you do it? I just cashed in last month from about 3 months and had $10 in pennies and nickels, $10 in dimes and $20 in quarters. Nice job for $40! What about you?
8 people like this
31 responses
• United States
2 Mar 08
Hey, I think it's a great idea to save change. I call it my rainy day fund. I'll save it up until I know I'm either going to need the extra money or I want a little vacation. Doing this helps my family take time out for ourselves without taking out of our everday expenses. I actually just counted my change two nights ago and it was about $32 dollars. I'll keep saving it until I need it or decide to take another vacation.
@coffeebreak (17798)
• United States
2 Mar 08
Saving coins/change is a great way to save for a vacation or something special or out of the ordinary! Even makes you want to save more if you know it is going for something that!
@drannhh (15219)
• United States
2 Mar 08
Good show! We used to, but not any more. Oh, if I see one on the sidewalk I pick it up and toss it in the dishwasher when we get home. But now we try to use them up as found, since we do most of our shopping with plastic.
2 people like this
@coffeebreak (17798)
• United States
2 Mar 08
Yes, plastic does limit the coins!
@deebomb (15304)
• United States
2 Mar 08
When I go shopping I prefer to take cash instead of using my debit card so I get change back and put it in a jar on my night stand. We sometimes use it when needing a couple of dollars and cash is low. I do like those machines that sort and count the change,but, I roll the quarters and dimes and sometimes the nickels. I also pick up any change that I see in the parking lots. I figure that if I spend time here for pennies I can pick up them where ever I see them, and I am always looking.
@deebomb (15304)
• United States
2 Mar 08
I always carry my cash, debt card and credit card in my pocket for safe keeping.
1 person likes this
@coffeebreak (17798)
• United States
2 Mar 08
You're speaking my lauguage! I have a debit card that gives me 1% cash back for using it, so I save that in the account, but otherwise, I prefer cash too. I don't use credit cards. Cash is so much more easy to contol and not over spend. I know the mugging issue is there with cash, but these days, the debit nad credit cards can be just as easily abducted and used. that is why I put my cash in my pocket or the debit card, and if they grab my purse, at least they haven't gotten my money..at least
1 person likes this
@kingcrapper (1536)
• United States
2 Mar 08
I have a large plastic container that I drop my coins in everyday. It is a forced savings plan to me and I have gotten into the habit of always breaking a dollar bill or getting fuel that it requires change back. With such a system I am able to collect a mountain of change every month. The container is pretty heavy but the plan is I will let it go until this time next year and reward myself with a first class ticket to Vegas! Any plans with your change?
@coffeebreak (17798)
• United States
2 Mar 08
That is a fantastic goal! I hope you get it! Vegas is not what it used to be, I lived there for awhile and it has changed. Granted that is just my opinion. My husband is there right now in the construcion of the new resorts/spas and condos on the strip (yes, you can now live on "the strip" Las Vegas Blvd).
• United States
2 Mar 08
I want to go back becuase that is where I met my wife. There is this bar/dance floor between Harrah's and the Imperial Palace. I asked her to dance and since then she moved from Colorado to Michigan (talk about a step down...or two). She is everything I have ever dreamed about and more!
1 person likes this
@coffeebreak (17798)
• United States
2 Mar 08
Well at least Harrahs and Imperial Palace are still there. They have demolished all the original "strip" casinos. The Stardust and the Frontier were the last to go last fall.
@moneyandgc (3428)
• United States
2 Mar 08
I do this a couple of times a year. Usually when money is not tight, like around tax time. This way when money IS tight we can cash in all that change that has been collecting for months. Or, we can cash it in before we go on a vacation or something. I always pick up pennies and other change when I see them laying on the ground. I used to save all the pennies I collected from the ground for a whole year. Then I would count them on New Year's Day to see how many I found.
1 person likes this
@coffeebreak (17798)
• United States
2 Mar 08
Sounds like fun! That's a good idea to save for a year and count them on New Years Day.
• United States
3 Mar 08
This is a another good way to save for vacation too.
1 person likes this
• United States
2 Mar 08
My youngest son makes a big deal out of finding money when we go out. He often finds a couple of pennies as we walk through the parking lot at the park we take him to to meet with his friends and play. He's only just turned 5, but he already has a savings account with over $100 in it (yes, mostly from finding money outside) and he has a little digital bank at home with over $40 in change. I think it very cool that he gets a kick out of saving money and I hope we can teach him the benefits of saving money. On a side note, I know that many people are annoyed with pennies, but it's strange how often my son finds a few coins on the ground in a parking lot, including nickels, dimes and quarters. It is a parking lot, you would think people would hear the change hitting the pavement. I guess they really don't care about change.
• United States
2 Mar 08
Wow, that's a great idea. My sone knows what a quarter is, as opposed to a nickle, but he doesn't really know the values that well yet. Funny story, my son went to the bakery w/ me this morning and the total came to $6.42 and he pulled 2 pennies (2 of the dirtiest, beat-up pennies I ever saw) and said I have the 2 cents. The girl behind the counter thought it was wonderful that he knew about money. In the parking lot on the way out, the car that had been next to us was now gone and he found a dime and a penny in the parking spot! I wanted to buy a metal detector to use on the beach after the summer is over, but I think I already have a 5 yo, blonde, green eyed metal detector...lol
1 person likes this
@coffeebreak (17798)
• United States
2 Mar 08
That is great for your son! And a good way to learn the value of money! My GD saves them but I dont' have her much so she uses them in her cash register when we play store and I have been teaching her to count and make change...something that many can't do these days cause of the registers that do it automatically.
@chiyosan (30184)
• Philippines
7 Mar 08
i try to save as much coins as i have. :) sometimes they just get spent right away if i just let them be in my purse. so what im doing is i put them on some canister where i will most likely forget... successfully i found some coins i have forgotten about when i was doing a cleaning at my drawer :D
1 person likes this
@coffeebreak (17798)
• United States
7 Mar 08
The secret savings fund! Good idea!
• Philippines
3 Mar 08
With me being the only bread winner in my family having to pay all the bills and having 5 kids, a husband who doesn't work and a maid...Every cent counts so I don't get to save anything at all. Maybe I will when I have zeroed out my debt.
1 person likes this
@coffeebreak (17798)
• United States
6 Mar 08
Been there, done that! I did this years ago when I was in your shoes, got lots out of my husbands pants pockets as I did the laundry! But the pennies add up to dollars,a nd every little bit helps. Back then I'd save it for school supplies like a new back pack or something they wanted to buy school related or even if they had a fund rasier, I'd use that moneyt o buy a little something from them. So many uses for such a stash!
@bfarrier1 (2082)
• United States
2 Mar 08
My husband and I both save are change and we usually cash in once a year and have enough for a weekend out of town,last year we ended up with $5oo that was nice so we wen't to a little fishing resort for the weekend.Have a great day!
@coffeebreak (17798)
• United States
2 Mar 08
That is the best! And it didn't cost you anything or at least not much out of your pocket! Makes it a good "promotion" to save your coins!
1 person likes this
@bfarrier1 (2082)
• United States
2 Mar 08
That was the best part that we didn't have to take money out of our pockets and we had a nice relaxing time away from everyday life.
1 person likes this
@chris1314 (784)
2 Mar 08
I save pennies and 5p's =] I normally get about £20/30 a year / $40/60 Its quite good, and nice to get a small amount back everynow and and then =] Chris
@coffeebreak (17798)
• United States
6 Mar 08
Even if it is a small amount, I guarentee you, there is a smile on one's face when they dip into the stash - whether to roll it or take a "loan" from it! Not to much these days that you can say that about!
@rcaira7 (145)
• United States
7 Mar 08
my husband manages to come home everyday with some coins...we give them to our sons for the piggy bank, then when we get a shoe box half filled or so, we bing them to coinstar and then I take the money and out it in their college fund. It all adds up.
1 person likes this
@coffeebreak (17798)
• United States
7 Mar 08
You are great parents then.. teaching your child to save and then able to reap the rewards!
• United States
2 Mar 08
Yes I save my coins. Every night I always take out any loose change on me and put it in my change drawer. Every so many months I go to CoinStar to cash out. I can usually cash out anywhere from $20-50 dollars. Now I am starting to take out any loose $1 bills and put them in a jar. The only problem with that is every now and then I tend to dip and get out a couple of dollars for lunch. (smile)
@coffeebreak (17798)
• United States
6 Mar 08
CoinStar - that is the machine thingy! Cuoldn't remember the name. But hey - you got the rythem going, just have to sometimes take replay the chorus a time or two!
@broc93 (167)
• Italy
2 Mar 08
Yeah, I always save my "small" coins, like 1,2,5,10 eurocent and more. Last month I saved about 5-6 € (about 4 US dollars...) and by 5 Euros in 5 Euros, I will accumulate a treasure! But small coins are very fastidious, so many times I change them with banknotes, which are more versatile :)
1 person likes this
• United States
2 Mar 08
Actually, your 5 euro would be worth about $7.50+ in US money right now.
1 person likes this
@dzxq666 (159)
• China
7 Mar 08
i also like to save money, that can help us to form the good habit. of course we can invest our save to other place like stock, foreign exchange etc, we can get many profit from our saving.
1 person likes this
@coffeebreak (17798)
• United States
7 Mar 08
Yep - collect and then invest!
@avonrep1 (1862)
• United States
2 Mar 08
1955 D Double Die - This coin is a beauty, though circulated it is worth $2,000. Got in change from the corner convience store.
Coffeebreak, shame, shame, saving that money for such a short period of time. Do you check the dates on your coins? You should and get to know them, and know them well. I was at the convience store one day and was given back .16 cents in change for an item that cost under $2.00 USD and the penny was a 1955 double die error penny, worth $2,000 USD. I always look at my change, you never know what you will find that is worth more than what the face value is worth to a collector. I did say shame, shame that the reason for the second shame, is that when saving change save it for at least a year. A years worth of change, give us enough money for a family of 5 to go on vacation each year. It might not be the most expenesive trips, but they are always fun. And to answer your question, if its not clear from my response, yes I collect and save coins. One day my husband and I plan to sell our collection and retire off of it. You would be amazed what people spend and what you can get in your regular change, from people not knowing.
@coffeebreak (17798)
• United States
2 Mar 08
Yes that is a great way to collect valuable coins. I used to do that. Have some set aside, but since I dont' know anything about it and it confuses me to learn that stuff, I'll just let it sit for "one day". That is great that you know all about that..What is double die? I usually do save longer than 3 months, but we just moved and I hadn't gotten my place to save organized yet so I figure before I loose it, I'd better just cash it in. It goes into a savings account right away, so I havent used it and won't. I have no retirement..never fortunate to get with a company that had one, or a 401k or any other bene like that - I got 2 weeks vacation after the second year and 6 paid holidays per year and that was it, so now I have to make my own. Granted, it won't be enough to support me, but at least I am trying. Vacation? What's that?
@TerryZ (22076)
• United States
2 Mar 08
Hi coffeebreak I dont save my change but my hubby does. It has helped us out quite a few times. It really does add up. And its a great idea. Keep saving that change.LOL
@coffeebreak (17798)
• United States
2 Mar 08
Know where I got alot of the change? From my husbands pants pockets. I'd do his laundry and always check the pockets and would get at least a dollar a week! I tried to remember to check BEFORE the wash cycle, but sometimes forgte and in taking them from washer to dryer, always found coins in the basket!
@arkaf61 (10881)
• Canada
2 Mar 08
I have a can where we all can put our loose change. ALthough sometimes we all do, often nobody does LOL Usually when things are not so complicated we tend to put more money in the can, but lately we need all our change. WHen the new $2 coins appeared at first I used to always put them in that can, I once had almost $200. But now even when it starts building up there's always a day where we need to go there and take the money.
@coffeebreak (17798)
• United States
2 Mar 08
But at least you had it for the emergency! that is good! Show that just saving a litle can be very helpful. Save a little to save a lot, is my motto!
• Singapore
2 Mar 08
No, not really. When I get coins for change for my purchases, they will be kept in the coin compartment of the wallet. Where possibly, I try to use up these coins rather than use dollar notes and get even more change. But I do think it is a good habit to save. Kids when young can be taught how to save. They can start by saving up the coins and seeing them translate to a growing amount in their bank accounts will serve as a motivation.
1 person likes this
@coffeebreak (17798)
• United States
2 Mar 08
Can work both ways as far as spending goes. If you spend your change your bills last longer, but ifyou save your change, you dont have to spend the bills! Either way it is a good savings habit to have. And yes, a great tool to teach kids the value of saving and spending.
@gemini_rose (16264)
2 Mar 08
I save coins too, I only started at the beginning of the year, I save them all month then count them up and put them in the bank. I managed to bank £60 last month which really surprised me as I didnt expect that much! I am putting all the money I save out of it towards our holiday so should have quite a bit by the time we go.
@coffeebreak (17798)
• United States
2 Mar 08
Good for you! Those little bits add up to alot! It is also just fun to see what you can do with it once collected!
• Philippines
2 Mar 08
Honestly no... because in our country coins virtually almost means nothing. But my mom had been teaching me to save every penny though... usually I just throw them away when I got home. Not literally haha... meaning put them anywhere in our house to the point that I can't remember where I put them.
1 person likes this
@coffeebreak (17798)
• United States
2 Mar 08
You gotta do what works in your country. Wow, to hear they don't mean enough to just toss them...that is a scary thought!