Coinstar, LLC is a company that runs coin-cashing machines in the United States, Canada, the United Kingdom, Ireland, and Puerto Rico. It is headquartered in Bellevue, Washington. The machines allow customers to cash in coins in exchange for dollar bills.
They are mostly located in grocery stores, supermarkets, drug stores, banks and other retail locations. Coinstar has managed to process more than 350 billion coins since its inception 29 years ago. It charges an average transaction fee of about $38. Customers have the option of cashing out, putting their money onto a gift card or donating it to charity.
What time does Coinstar open?
| Monday | 24 hours |
| Tuesday | 24 hours |
| Wednesday | 24 hours |
| Thursday | 24 hours |
| Friday | 24 hours |
| Saturday | 24 hours |
| Sunday | 24 hours |
Is Coinstar open today? Is Coinstar open tomorrow?
Is Coinstar open on Sunday? Yes, it is open
Coinstar closing time
What time does Coinstar close? Usually, it operates 24 hours
History
Coinstar was first established in 1991 as Coinstar, Inc. The idea was brought forth by Jens Molbak, a business graduate student at Stanford University. On realizing that his jar of coins had real value, he set out to establish a service that could help coin keepers turn their coins into dollar bills.
He decided to turn his idea into a school project. After interviewing 1,500 people, he discovered that every three out four had coins hoarded at home. This translated to about $30 that sat unused at any one given time. As a result, Molbak estimated that Americans had about $8 billion worth of change hoarded in jars.
It took him a couple of years to raise enough capital to start his business.
By 1992, Coinstar machines were already operating in four supermarkets in San Francisco. Three years later, these machines had grown to 263. The company had 900 units in 18 states the following year. The largest number of machines was found in Los Angeles where 347 machines processed $5,000 every week and gave out vouchers worth $4,625.
Thanks to a loan of $63 million that Coinstar had secured, it was able to spread out 3,000 machines across 23 states by the end of 1996. Its exponential growth continued throughout the years despite losses experienced in the mid- to late 1990s. Its company name was changed to Outerwall in 2013.
Coinstar Holiday Hours – Open
| Date | Holiday |
|---|---|
| January 21 | Martin Luther King Jr. Day |
| February 14 | Valentine’s Day |
| February 18 | President’s Day |
| March 5 | Mardi Gras Fat Tuesday |
| March 17 | St. Patrick’s Day |
| April 19 | Good Friday |
| April 21 | Easter Sunday |
| April 22 | Easter Monday |
| May 5 | Cinco de Mayo |
| May 27 | Memorial Day |
| July 04 | Independence Day |
| September 02 | Labor Day |
| June 16 | Father’s Day |
| May 12 | Mother’s Day |
| October 14 | Columbus Day |
| October 31 | Halloween |
| November 11 | Veterans Day |
| November 28 | Thanksgiving Day |
| November 29 | Black Friday |
| December 24 | Christmas Eve |
| December 25 | Christmas Day |
| December 26 | Day after Christmas |
| December 31 | New Year’s Eve |
| January 01 | New Year’s Day |
Coinstar near me
Coinstar store locator
Business Directions
To process coins, customers pour their loose change into a Coinstar machine. Machines located in the United States accept all denominations of coins except Eisenhower dollars and 1943 steel cents. Once the counting is done, the machine dishes out a voucher that the user can redeem at a designated business premise that provides the current face value for the coin-counting service.
The same style of operation is adopted in Great Britain, Canada, Puerto Rico, and Ireland. Fees deducted differ from region to region. Users are charged a processing fee of 11.9% of the total coins counted in the USA, 8.7% in Ireland, 10.9% in the UK, and 11.9% in Canada. Some stores are known to subsidize rates.
Key Facts
Outerwall once offered to cash in pennies worth 1.3 million from Edmond Knowles of Flomaton, Alabama. This was after his bank refused to do the same for him. Outerwall sent an armored truck to his home. It sank in the mud in his yard after being overloaded with 4.5 tons of coins. It was later rescued by a tow truck.
Conclusion
Coinstar has for the last three decades provided a reliable, accurate, and convenient way for users to exchange their loose change for cash, a charitable donation, or a NO FEE eGift Card. This has made it one of the sort-after companies for the service worldwide.
FAQ
Is Coinstar free right now?
You do not pay a fee; however, Coinstar retains a 10% processing fee from your donation amount for national charities and a 7.5% processing fee for regional charities. See Charity Partners for information.
How much does Coinstar charge for $10?
Most banks provide the machine to customers free of charge, but some charge a fee to nonbank customers. In the end, it’s up to you to decide if your time is well spent rolling coins or driving to a distant bank. Say you’re cashing in $10 worth of change. Using Coinstar to automate the process will cost you $1.19.
Where can I change my coins for free?
Some banks will take customer coins and turn them into cash without charging.
- Bank of America. Bank of America does not charge a fee for customers to cash in their own coins.
- Wells Fargo.
- US Bank.
- Walmart.
- ShopRite.
- CVS.
- Target.
Are Coinstars reliable?
“Our goal at Coinstar is to provide consumers with a convenient, reliable and accurate coin counting solution. With 25 years in business, processing more than 1 billion transactions, we have a zero tolerance policy on our accuracy tests; if a kiosk doesn’t meet our standards, it’s shut down and fixed.”
How much does Coinstar charge for $100?
Coinstar’s fee is currently set at 11.9 percent of the value of the coins you’re exchanging. Basically: That’s nearly $12 for every $100 in coins you feed to the machine.
Do banks still accept rolled coins?
Consumers can turn in their coins for cash at banks, which will give them their full value. Banks do not charge a fee to their customers when they deposit coins, but many require that the coins be rolled in wrappers. Some banks like Wells Fargo will exchange rolled coins for noncustomers without a fee.
Does Coinstar have a limit?
There’s absolutely NO FEE when you cash in at Coinstar for Hotels.com. Minimum amount: $10.00. Maximum amount: $500.00.
Does Coinstar recognize dollar coins?
In the United States, the machine accepts all denominations of coins from one-cent coins to one-dollar coins, its only restriction being 1943 steel cents and Eisenhower Dollars.
How do you use Coinstar without fees?
You can take your unsorted coins to a Coinstar machine, deposit them in the coin tray and receive their full face value amount in return. It’s Coinstar’s No-Fee Option.
What can I do with a large amount of coins?
10 Things to Do with Spare Change
Can you buy Bitcoin from Coinstar?
To buy bitcoin from a Coinstar kiosk, customers must create a Coinme account (which they can do online) and find and insert cash into a Coinstar kiosk. They’ll then receive a physical voucher for bitcoin that can be redeemed online.
Can you put pennies in Coinstar?
Cashing in your loose change at Coinstar is easy.
Just pour your coins into the kiosk and let us do the work.
How much will Coinstar give me for my gift card?
The Coinstar gift card Exchange rate is up to 85% of the value of the gift card. Each card varies. You need to have at least $20 on the card to be able to use the system.
Does Coinstar still buy gift cards?
Does Coinstar buy gift cards? Coinstar no longer buys gift cards, although it used to let you get cash from gift cards from over 150 retailers. Instead, it now allows you to exchange your coins for gift cards, meaning it now basically does the opposite job of what the Coinstar Gift Card Exchange kiosks did before.
Does Coinstar take Mexican money?
Do Coinstar Machines Take Foreign Coins? Yes, but only if trading them in exchange for cash. Coinstar’s machines cannot accept foreign currency as an Amazon gift card, which means that you cannot exchange them for anything like an Amazon card.
Is it worth it to use Coinstar?
For every $100 you deposit into a Coinstar machine, you’ll lose nearly $12. That’s a high charge just for counting coins! Because they’re basically the only coin-counting company out there, Coinstar can get away with charging these high fees. Most people feel like the convenience of the kiosks makes it worth it.
How much bitcoin can I buy at Coinstar?
Go to a select Coinstar kiosk, touch “Buy Bitcoin,” review and accept the transaction terms, and enter your phone number. Insert U.S. paper money into the cash acceptor (any amount up to $2,500). Receive a voucher with a Bitcoin redemption code.
Is Coinme and Coinstar the same?
About: Coinme was the first US-licensed bitcoin ATM company in 2014 and has since partnered with Coinstar, who operates over 20,000 coin collection machines which are now enabled for bitcoin purchases.
