seems like they get the best hoards. Do they turn them over to the grocery store where the machine is located? Do they go to a Coinstar office, or does a brinks man take them?
Buying: Peace/Morgan G+ at $15.00 copper cents at 1.3X wheat pennies at 3X
I don't believe that the grocery stores touch the money. Someone from the outside takes care of it. That is one job I would love to have. They would not even have to pay me. Just let me switch out all the silver and good coins for modern ones. The security guard at a store near me told me he found 5 Barber dimes laying on the Coinstar. I guess the machine kicked them out as rejects and the person turning in the change did not know what they were. Years ago my house was broke into and one of the things taken was three large jars of coins I accumulated while metal detecting over the years. I imagine they all went straight to the Coinstar.
They do indeed get the good stuff. Here is an old thread I posted last year that tells a little about CoinStar's operations. To answer your original question, the location hosting the machine gets an EFT for their cut from the machine. The coins are CoinStar's.
Where do Coinstar coins go?
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Posted - 06/17/2008 : 15:08:41
