MidStateVending Posted July 2, 2014 Share Posted July 2, 2014 This summer I am doubling my coin count. I currently carry coins in small plastic bins, but the poor bank ladys can barrely pick them up and carry them to the coin counter. What are some ideas of how to carry large amounts of coinage into a bank. I would buy a coin bags but I am too lazy and cheap. Also, I can't seem to find any for sale except on eBay. Hoping for a pinterest style, home remedy. Link to comment Share on other sites More sharing options...
CajunCandy Posted July 2, 2014 Share Posted July 2, 2014 Pm AZVender I bought some used bags from him, they have zippers on them. No more chasing coins or flying $! Link to comment Share on other sites More sharing options...
WhiteRoom Posted July 2, 2014 Share Posted July 2, 2014 Sorry, but I've got an ebay solution for you. I use these to store coins and wrapped bills at home and to transport to the bank. http://www.ebay.com/itm/330870385033?ssPageName=STRK:MEWAX:IT&_trksid=p3984.m1423.l2649 I use one of these for each machine as I service to put coin and bills in for counting later. I got "natural" and write the location identifier on it with sharpie. I know the cool ones that keep change separate from bills are nicer but these work just fine. http://www.ebay.com/itm/121056112694?var=420117377855&ssPageName=STRK:MEWAX:IT&_trksid=p3984.m1423.l2649 I was perfectly happy with both sellers. Good luck! Link to comment Share on other sites More sharing options...
AZVendor Posted July 2, 2014 Share Posted July 2, 2014 If you are using the bank to count your individual machine collections or if you lump all your collections into large bags that need to be sorted and counted then you are moving too much of your work onto the bank. If you would use an automated coin counter you can get one that will bag the coins by denomination into large bags that you can then seal and carry to the bank. You can also use a bill counter (more expensive ones will sort bills by stopping when a "stranger" is detected) and then wrap your bills with $100 bands and take those to the bank. Back in the days of my vending company we used the Rowe version like the Cummins Jetsort. Ours was on a rolling stand with places to hang 4 different bags. Ours could run up to 4000 coins per minute on dimes and saved us hours each week on counting collection bags. We also used a bill counter and we would roll into the bank's merchant room with a couple of milk crates of bagged coin and a cloth bag of strapped bills making a $10K deposit a couple of times per week. We got immediate credit for our deposits as the bank rarely found errors in our bag or bill counts when the main vault counted our bags. Each bag had a color-coded tag with our account number stamped on it tied to a lead seal and the same was stamped on our strapped bills so the bank always knew which account should be corrected if they found a discrepancy. Link to comment Share on other sites More sharing options...
SchligVend Posted July 2, 2014 Share Posted July 2, 2014 Every vendor should have one of these...... Link to comment Share on other sites More sharing options...
Arutkow Posted July 2, 2014 Share Posted July 2, 2014 This is how I handle my change and if I were to keep it at home, eventually it'd look like this: Link to comment Share on other sites More sharing options...
MidStateVending Posted July 2, 2014 Author Share Posted July 2, 2014 Thanks everyone. I think the canvas bags are a good place to start! Link to comment Share on other sites More sharing options...
AZVendor Posted July 2, 2014 Share Posted July 2, 2014 I still have a bunch of used canvas collection bags if that's what you're looking for. They are heavy zippered canvas bags that are 6 1/2" wide by 11" tall and will hold all the coins and bills you collect from any machine. Send me a PM if you're interested in any of them. Link to comment Share on other sites More sharing options...
AngryChris Posted July 3, 2014 Share Posted July 3, 2014 My banks won't take loose change unless it's wrapped or you use their coin counter. It may be worth checking if any local bank or credit union has a coin counter that is free for members. I separate my denominations as I count my money. I only separate them for when a machine needs change, but I eventually deposit all of them to my local bank or credit union branch with a coin machine. It saves me a lot of time but this solution may not be available in your area. Link to comment Share on other sites More sharing options...
WhiteRoom Posted July 3, 2014 Share Posted July 3, 2014 Yea, free use of the coin machine (along with reasonable fees all the way around) was one of the key things I was looking for when I picked a bank. Rolling coin seemed like it would be a nightmare. My counter sorts, which is important to create change bags for filling mechs, but then I too dump it all in one bag to take to the bank. My counter is better than theirs, they keep crediting me for a few pennies when I never give them any. Oh well. Link to comment Share on other sites More sharing options...
TKK Posted July 3, 2014 Share Posted July 3, 2014 I use those gregs bags when servicing, i usually empty the cash bills only when the bv is almost full. I only count the change at the end of the month. Count it all at home with a brandt coin counter, and the bills with the 200 dollar bill counter they sell at sams. It doesnt detect dif denominations so if i dont spot them they go into the 100 strapped bills. Then at my bank they do find the high bills and i always get an extra 30 to 60 a month. I dolly in the coins and they dont charge. Usually like 3k in just coins and everyone looks at me weird Link to comment Share on other sites More sharing options...
AZVendor Posted July 3, 2014 Share Posted July 3, 2014 TKK, just my two cents here: Don't leave any money in your machines when you service them. Make every service a complete collect and fill so that you remove any reward should someone break into your machine. It's foolish to think that your cash is more secure in your machine than at home or in the bank. By collecting with every service you will have better control of your cash and could then actually begin to balance your collections to the product sold, which will allow better control of your business. I had a customer who had machines on every floor of a couple of hospitals, along with about 50 elsewhere. He was in the habit of leaving all the money in the machines until the end of the month when he would collect it all (now that would be a lot of weight). His thinking was "Who's going to break into my machines in a hospital?" Well you can guess what began to happen next, and on a regular basis. Do you think he learned? Nope. He actually spent thousands of dollars to put hasps and puck locks on every machine just so his habit of collecting at the end of the month could continue. And he still got broken into with more damage than ever due to his extra locks. I would freak out when I would do a service call for him on any machine he had because there would always be tons of money in the coin box, and I was always afraid that someone nearby would see it because I would be in the coin box fishing for coins to test his machine with. Just a bad idea all around and poor cash management. Remember, this is my two cents. Link to comment Share on other sites More sharing options...
Golfdogs Posted July 4, 2014 Share Posted July 4, 2014 TKK, just my two cents here: Don't leave any money in your machines when you service them. Make every service a complete collect and fill so that you remove any reward should someone break into your machine. It's foolish to think that your cash is more secure in your machine than at home or in the bank. By collecting with every service you will have better control of your cash and could then actually begin to balance your collections to the product sold, which will allow better control of your business. I had a customer who had machines on every floor of a couple of hospitals, along with about 50 elsewhere. He was in the habit of leaving all the money in the machines until the end of the month when he would collect it all (now that would be a lot of weight). His thinking was "Who's going to break into my machines in a hospital?" Well you can guess what began to happen next, and on a regular basis. Do you think he learned? Nope. He actually spent thousands of dollars to put hasps and puck locks on every machine just so his habit of collecting at the end of the month could continue. And he still got broken into with more damage than ever due to his extra locks. I would freak out when I would do a service call for him on any machine he had because there would always be tons of money in the coin box, and I was always afraid that someone nearby would see it because I would be in the coin box fishing for coins to test his machine with. Just a bad idea all around and poor cash management. Remember, this is my two cents. The voice of experience... Link to comment Share on other sites More sharing options...
FrCorey Posted July 4, 2014 Share Posted July 4, 2014 Here is a safe way. get huge heavy purse for girlfriend and send her. Link to comment Share on other sites More sharing options...
SeaTurtle Vending Posted July 6, 2014 Share Posted July 6, 2014 Who rolls coins anymore. The Fed no longer accepts them and neither do any banks I know. I can't imagine a bank in this day and age that does not have a coin counter in the lobby for their customers. If yours does not, then they are not the bank for you. The one across the street will offer you better service. FYI- look into Credit Unions, much better. The canvas bags work great! I put all coins in one, and the dollars in another. My Credit Union runs all the ones through their machine so they do not care about them being banded in any way, When I run my bulk routes, I have all the money in a gumball box and carry it in... That is always a workout. Link to comment Share on other sites More sharing options...
AngryChris Posted July 6, 2014 Share Posted July 6, 2014 Who rolls coins anymore. The Fed no longer accepts them and neither do any banks I know. I can't imagine a bank in this day and age that does not have a coin counter in the lobby for their customers. If yours does not, then they are not the bank for you. The one across the street will offer you better service. FYI- look into Credit Unions, much better. The canvas bags work great! I put all coins in one, and the dollars in another. My Credit Union runs all the ones through their machine so they do not care about them being banded in any way, When I run my bulk routes, I have all the money in a gumball box and carry it in... That is always a workout. To my knowledge, most banks don't have coin counters. I know of abput 5 in my area out of 25+ known banks. Link to comment Share on other sites More sharing options...
Lake Cities Vending Posted July 6, 2014 Share Posted July 6, 2014 I recently had to change banks because Wells Fargo quit taking change. They told me they could send it out to some church and get it back in a couple of days. Link to comment Share on other sites More sharing options...
SeaTurtle Vending Posted July 7, 2014 Share Posted July 7, 2014 Wow. In my area every bank I know has coin counters. Switch to banks that offer the services you need. Let it be known why you are switching. Businesses will conform if the customers demand it. Link to comment Share on other sites More sharing options...
SkydiverBC Posted July 12, 2014 Share Posted July 12, 2014 Who rolls coins anymore. The Fed no longer accepts them and neither do any banks I know. I can't imagine a bank in this day and age that does not have a coin counter in the lobby for their customers. If yours does not, then they are not the bank for you. The one across the street will offer you better service. FYI- look into Credit Unions, much better. The canvas bags work great! I put all coins in one, and the dollars in another. My Credit Union runs all the ones through their machine so they do not care about them being banded in any way, When I run my bulk routes, I have all the money in a gumball box and carry it in... That is always a workout. I can only bring rolled coin to my bank or they won't accept it. No coin counter either. I am not a large operator so a Cassida C200 does the trick for me. I roll it all at home and bring in a sack with a few thousand in rolled coin. We also have $2 & $1 coins that make up most of my deposit. Link to comment Share on other sites More sharing options...
SeaTurtle Vending Posted July 23, 2014 Share Posted July 23, 2014 I can only bring rolled coin to my bank or they won't accept it. No coin counter either. I am not a large operator so a Cassida C200 does the trick for me. I roll it all at home and bring in a sack with a few thousand in rolled coin. We also have $2 & $1 coins that make up most of my deposit. WOW! My last drop off of coins was $1700. I cannot even begin to fathom trying to roll that. Honestly, I would not be doing this work with that intense labor added in. Time is money. Link to comment Share on other sites More sharing options...
AngryChris Posted July 23, 2014 Share Posted July 23, 2014 WOW! My last drop off of coins was $1700. I cannot even begin to fathom trying to roll that. Honestly, I would not be doing this work with that intense labor added in. Time is money. Time is money.. It's a phrase that gets taken out of context too much. Your time is valuable; that is true. However, is it worth your time to roll the quarters if you have enough time to do so? Probably! How much is your time worth... that is the question. I used to roll $50-$100 in quarters every week. It took 10-15 minutes but what else was I going to do? Throw the coins away? Lol. I NEEDED that money. I'd roll more if I had to! Time is money... in a symbolic sense.. but money LITERALLY is money! Link to comment Share on other sites More sharing options...
Golfdogs Posted July 23, 2014 Share Posted July 23, 2014 I finally convinced my bank to let me bag my quarters. It is MUCH faster than rolling them! My issue is a cash flow adjustment. I've got $750 in quarters sitting in a bag that I can't yet deposit. It might take me a month or so to adjust to having cash laying around. Link to comment Share on other sites More sharing options...
FrCorey Posted July 23, 2014 Share Posted July 23, 2014 have to roll your own. get rolls and a roller at a wholesale club like sams or Costco. Link to comment Share on other sites More sharing options...
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