How to Put Change in Rolls for the Bank
Learn the simple steps to efficiently organize and deposit your accumulated coins, turning spare change into bankable currency.
Loose change can accumulate quickly, often filling jars and containers around the home. Organizing this spare currency into coin rolls offers a practical solution, allowing for easier storage, counting, and eventual use or deposit.
Understanding Coin Roll Standards
Understanding standard coin roll quantities and values is important:
- Pennies: 50 coins, $0.50
- Nickels: 40 coins, $2.00
- Dimes: 50 coins, $5.00
- Quarters: 40 coins, $10.00
- Half-dollars: 20 coins, $10.00
- Dollar coins: 25 coins, $25.00
Rolling Your Coins
Acquiring the correct coin wrappers is the first step in preparing your change; these are often available at banks, credit unions, or office supply stores. Each wrapper is color-coded and labeled to indicate the specific coin denomination and its total value when full. Begin by placing a few coins into one end of the wrapper, then fold the paper over the coins to secure that end. Continue inserting coins into the wrapper until it is nearly full, ensuring the coins are neatly stacked.
Once the wrapper contains the correct number of coins for that denomination, fold the remaining paper at the open end to fully enclose the roll. Ensure the coins fit snugly to prevent them from falling out. Properly closed rolls should hold their shape without the need for tape, though a single piece of tape can be used if necessary to secure the roll.
Exchanging Your Coin Rolls
After meticulously rolling your coins, several options exist for exchanging them for paper currency or depositing them into an account. Most national banks, local banks, and credit unions accept rolled coins, although policies can vary. Many institutions prefer or require coins to be rolled for deposit, especially for account holders, and some may offer free coin exchange services to their customers. However, some banks might charge a fee or refuse to accept rolled coins from non-account holders.
Alternatively, coin-counting machines, often found at retail locations like grocery stores, provide a convenient way to convert loose change into a cash voucher or gift card. These machines typically charge a fee, which can range from 11.9% to 12.9% of the total coin value, plus a potential transaction fee. Opting for a gift card from a partnered retailer through these machines often waives the fee. Before visiting any location, it is advisable to contact them regarding their specific coin acceptance policies and potential fees.