Coins
By allen0187
@allen0187 (59761)
Philippines
June 26, 2023 3:09am CST
Was going through Reddit earlier and saw a post made by a user who was asking where she can get bills for the coins she saved in her piggy bank. The user was shy in having her coins exchanged.
I find collecting and bundling coins to be relaxing. I collect 1, 5, 10, and 20 peso coins and bundle these into tens so each bundle would be 10, 50, 100, and 200 pesos respectively. Once, I have enough, I exchange these in a number of places - banks, convenience stores, laundry shops, - basically any place that would need coins for their business. I don't feel shy. In fact, I feel a sense of accomplishment. Just this morning, I had exchanged Php2,550 worth of coins into bills. That 's around $45.
Pictured along with the post are the 'new' set of Philippine coins. I collect these as well as the older versions of coins.
Not bad.
Do you save coins?
16 people like this
15 responses
@allen0187 (59761)
• Philippines
26 Jun 23
I actually prefer to use my credit card or use the other mobile payment platforms that I have but technical issues and system glitches are very common here in the Philippines so I always have cash on hand.
2 people like this
@LadyDuck (502484)
• Italy
26 Jun 23
@allen0187 I always keep some cash with me just in case there is a problem. It only happened once in the past 10 years.
1 person likes this
@allen0187 (59761)
• Philippines
26 Jun 23
@LadyDuck 
We usually encountered glitches every pay day. Usually it is the 15th and end of the month.
We usually encountered glitches every pay day. Usually it is the 15th and end of the month.1 person likes this
@DaddyEvil (174463)
• United States
26 Jun 23
I drop coins I get as change for a transaction into a container. When the container is full, I take it to my bank and they process the coins into my checking account. I keep the 25 cent coins to use to buy stuff in machines.
A lot of the stores/businesses here won't exchange large amounts of coins for paper money. We can take the coins to a bank to exchange or some stores have machines you can pour the coins into and the machine gives you a paper slip that shows the total of your coins and you use the slip like money and get bills and coins in change when you buy something with the slip of paper.
2 people like this
@allen0187 (59761)
• Philippines
26 Jun 23
Coin counting machines in banks are not a regular thing in the banks here so people have second thoughts bringing their coins to banks.
1 person likes this
@allen0187 (59761)
• Philippines
26 Jun 23
@DaddyEvil it really depends on the bank.
Banks that accept it would have the depositor count the coins in front of the teller and the teller has to recount it. So that would take be time-consuming.
Like what I mentioned earlier, coin counting machines are not common here in the country.
Other banks just outright decline it.
From my experience, I have an account manager in my previous bank and was part of their preferred clients program so I bring the coins and I have a piece of paper that has a break down of the pieces of each denomination and the total amount and a filled out deposit slip. I just leave everything in the bank and just check it online if they deposit the money already. At first, I was getting funny looks but then they must have gotten used to it.
1 person likes this
@DaddyEvil (174463)
• United States
26 Jun 23
@allen0187 A few weeks ago somebody on myLot told me that the banks in the Philippines don't want people to bring in coins. I don't know if that's true or not.
1 person likes this
@allen0187 (59761)
• Philippines
26 Jun 23
@May2k8 only familiar with ShopeePay but I don't use it. I have some digital wallets as well but I still prefer to have cash on hand.
1 person likes this
@May2k8 (19788)
• Indonesia
26 Jun 23
@allen0187 I use Allo bank, ShopeePay, OVO, GOPAY and several digital wallets.
1 person likes this
@allen0187 (59761)
• Philippines
26 Jun 23
Were you able to buy anything from your saved up coins?
1 person likes this
@just4him (323168)
• Green Bay, Wisconsin
26 Jun 23
@allen0187 No. I just have them in the jars. One day, I'll take them to the bank. I don't know when.
1 person likes this
@CarolDM (203396)
• Nashville, Tennessee
27 Jun 23
@allen0187 Have a good rest of the day.
1 person likes this
@snowy22315 (208914)
• United States
26 Jun 23
No, if I have alot of them I put them in a cash machine and exchange for bulls.
1 person likes this
@allknowing (153530)
• India
27 Jun 23
I collect them and then give it to the pharmacy who is ever ready to have them in exchange of what I want from that pharmacy
1 person likes this
@allen0187 (59761)
• Philippines
27 Jun 23
Yup, pharmacies don't mind receiving coins as payment.
1 person likes this
@allen0187 (59761)
• Philippines
26 Jun 23
Nice to see you here twin sister!
Great work on your crochet items.
1 person likes this
@RebeccasFarm (91297)
• United States
27 Jun 23
I do not collect anything Allen. Nothing will do me any good here in the Apocalypse.
1 person likes this
@JESSY3236 (22245)
• United States
28 Jun 23
My mother does. My grandfather had collected coins that was made in the year I was born. I still have them.
1 person likes this
@allen0187 (59761)
• Philippines
28 Jun 23
Those are probably worth something right now.
1 person likes this
@merrybelle2021 (1394)
• Philippines
27 Jun 23
I used to, but now just stick to the 25 centavos and use them when paying utilities.
The BSP has recently launched a coin deposit machine at Mall of Asia, Robinsons Place Ermita, and Festival Supermall. I think people with jars of coins at home and live nearby should take advantage of it.
1 person likes this
@allen0187 (59761)
• Philippines
27 Jun 23
Those locations are too far from me. If coin deposit machines become more popular and are placed in more locations, it will be convenient way to exchange coins into bills.
1 person likes this
@allen0187 (59761)
• Philippines
26 Jun 23
Tried collecting coins and bills from different countries as a hobby back in the day. It really didn't took off for me.
1 person likes this
