Connect with laundry experts

Register for a Free or Premium membership now

Learn about the laundry industry

Read valuable content to build your business

Expand your laundry business

Classified Postings are free for Premium members

Join Now Login Advertise Payment

The Laundromat Success Program™ helps you create a detailed plan to completely protect all aspects of your laundromat business.





Please tell them Coinwash.com sent you....

Contact the folks at the Laundromat Success Program™ today to make sure your laundromat is safe. It will help you sleep better tonight.

Go Back   Coinwash The key to a successful Laundromat Business. > Laundromat 101-Newbie Section.


Reply
 
Thread Tools
  #1  
Old 11-16-2011, 06:13 PM
cleanclear cleanclear is offline
 
Join Date: Nov 2011
Location: nyc
Posts: 59
Default what to do with all the quaters??

second year into my first mat business, what do you guys do with all the extra coins? tried to put them into rolls and deposit to my bank, takes too much time, also have to write account number on each roll. been pouring coins into penny arcade machine at td bank recently (that was easy, no counting no rolls) but they told me i put in too much. any advice??
Reply With Quote
  #2  
Old 11-16-2011, 09:04 PM
Anonymous
"site-seer"
 
Posts: n/a
Default

Get a new bank and a commercial account that won't require rolling and numbering. Either that, or convert your store to a card system!

-Case
Reply With Quote
  #3  
Old 11-16-2011, 10:03 PM
cleanclear cleanclear is offline
 
Join Date: Nov 2011
Location: nyc
Posts: 59
Default

i have two different banks, td bank and hsbc bank, both commercial accounts they all want coins in the rolls, i got to pay for the rolls too.
Reply With Quote
  #4  
Old 11-17-2011, 09:04 AM
Anonymous
"site-seer"
 
Posts: n/a
Default

Yep, time to change banks.

-Case
Reply With Quote
  #5  
Old 11-17-2011, 10:53 AM
mike's Avatar
mike mike is offline
Premium Member
 
Join Date: Oct 2002
Location: montreal
Posts: 2,786
Default

I have printed and cut my own roller papers for bank deposit

They have my acct# printed on them, along with the denomination AND PICTURE

of the coin inside !

(Most of the coins are re-cycled to change machines)

33 years of rolling, I have got faster,...now I just have to worry about arthritis

in a few years ;-))
__________________
mike
Reply With Quote
  #6  
Old 11-17-2011, 11:06 AM
RBHII RBHII is offline
 
Join Date: Jul 2004
Location: Massachusetts
Posts: 247
Default

Here's my recently discovered method....

I also 'grow' quarters every week. Once a month I take the bucket to stop and shop and dump them in the coinstar machine....now, if you select an option for a gift card there is NO FEE. So I get gift cards for places where I would be spending money anyway.....supermarket, lowes, amazon.com. I simply record these as compensation to myself....

Here's a side benefit, the coinstar machine rejects any true silver coins, so I've got a nice little collection going of silver.
Reply With Quote
  #7  
Old 11-17-2011, 02:03 PM
KJD KJD is offline
Premium Member
 
Join Date: Jun 2003
Location: NY
Posts: 1,350
Default

Find a bank that will accept 50 pound bags ($1000), has a counter, will ship them off to the Feds, and actually wants customers.
Reply With Quote
  #8  
Old 11-18-2011, 03:06 AM
apartment_guy apartment_guy is offline
 
Join Date: Oct 2009
Location: Toronto
Posts: 109
Default

Quote:
Originally Posted by cleanclear View Post
second year into my first mat business, what do you guys do with all the extra coins? tried to put them into rolls and deposit to my bank, takes too much time, also have to write account number on each roll. been pouring coins into penny arcade machine at td bank recently (that was easy, no counting no rolls) but they told me i put in too much. any advice??
I bank with TD, and recently took a bucket with $1,500 in coins to a branch with a "Penny Arcade". I asked in advance if it would be OK to use the machine, given that it seems to be intended for kids with piggy banks and small amounts of change, and was told that I was welcome to use it. Indeed, I was told "That's what it's there for." So maybe rather than a new bank you just need a new bank manager.

Nonetheless, I can understand that bank staff might tire of listening to the machine's cartoon-character voice ("WHOA!!! You've got A LOT of coins! Let's slow down while I catch up!")

Last edited by apartment_guy; 11-18-2011 at 03:14 AM.
Reply With Quote
  #9  
Old 12-19-2011, 03:50 PM
goingtoarizona's Avatar
goingtoarizona goingtoarizona is offline
Premium Member
 
Join Date: Jan 2006
Location: California
Posts: 435
Default

Our commercial account is at b of a (ugh), but we deposit in $500.00 bags they supply.
Reply With Quote
  #10  
Old 12-19-2011, 04:41 PM
mike's Avatar
mike mike is offline
Premium Member
 
Join Date: Oct 2002
Location: montreal
Posts: 2,786
Default

Quote:
Originally Posted by goingtoarizona View Post
Our commercial account is at b of a (ugh), but we deposit in $500.00 bags they supply.
Don't you have change machines ?

(and business neighbors who could use them once in a while,

so you don't have to carry quarters ?
__________________
mike
Reply With Quote
  #11  
Old 12-20-2011, 02:23 AM
shad2038 shad2038 is offline
Moderator
 
Join Date: Sep 2008
Location: Mildura Australia
Posts: 1,241

How are you going with the $1 coin over there, is it in circulation yet?
Reply With Quote
  #12  
Old 12-20-2011, 01:43 PM
KJD KJD is offline
Premium Member
 
Join Date: Jun 2003
Location: NY
Posts: 1,350
Default

Quote:
Originally Posted by mike View Post
Don't you have change machines ?

(and business neighbors who could use them once in a while,

so you don't have to carry quarters ?
Even with all the businesses around us using our change machine (we actually welcome it) we have 4000-8000 excess quarters to take to the bank every month.
We have a lot of older customers that tend to bring their own quarters.
Reply With Quote
  #13  
Old 12-21-2011, 11:07 AM
mjwalsh mjwalsh is offline
Premium Member
 
Join Date: Mar 2003
Location: North Dakota
Posts: 640
Dollar coin dominance with drastically fewer quarters will help

Quote:
Originally Posted by KJD View Post
Even with all the businesses around us using our change machine (we actually welcome it) we have 4000-8000 excess quarters to take to the bank every month.
We have a lot of older customers that tend to bring their own quarters.
As many of you know I have been trying to shed light --- until I was blue in the face ---why it is in most of our long term interest to make sure the dollar coins eventually become more dominant than the quarters. Accurate surveys show that 95% of us are coin owners. From my observations most of us coin store owners believe there is room for a variety of innovative other payment systems besides just coins. We do not always get the same courtesy back from some of those folks.

For eleven years -- ever since the gold colored coins came out --- our facility has made them available. Up until the flood of misleading news releases early this summer about the so called storage waste & specific "nobody wants them" lies --- I was naive enough to think that the dollar bill did not need to be replaced to make the "1/4 the quantity & almost the same 1/4 weight" dollar coins over quarters --- as dominant or more dominant than the quarters.

Our leaders need to hear from us to stop the very recent "much more wasteful to the taxpayer" mandated "insanity" of discontinued "for commerce" President Coins status. To think that the banks "if this new status is alllowed to hold will not deteriorate their service" even more towards us --- is just simply "naive"

Canada has shown the only sensible solution is to replace the dollar paper note with none of the hypothetical "newly created" problems the naysayers are saying. Past generations of USA leadership has had the sense to adjust or replace the formerly used no longer practical paper notes with the coin version --- now it is time to make sure that our leaders know that it is their turn to use the same common sense. If anything --- the replacement of the one dollar paper version with the coin version is long overdue!!! The properly informing surveys show that there is now a clear 2 to 1 consensus of the American People are for the replacement of the Dollar Paper Note as Canada wisely choose almost 25 years ago.

http://dollarcoinalliance.org/

http://books.google.com/books?id=eMF...0money&f=false

We need to let our elected leaders know for the right reasons they need to respond properly or at minimum show us their rationale for their positon.

mike walsh king koin of bismarck

Last edited by mjwalsh; 12-21-2011 at 05:32 PM. Reason: grammer
Reply With Quote
  #14  
Old 12-22-2011, 07:58 AM
mike's Avatar
mike mike is offline
Premium Member
 
Join Date: Oct 2002
Location: montreal
Posts: 2,786
Default

Quote:
Originally Posted by mjwalsh View Post
As many of you know I have been trying to shed light --- until I was blue in the face ---why it is in most of our long term interest to make sure the dollar coins eventually become more dominant than the quarters. Accurate surveys show that 95% of us are coin owners. From my observations most of us coin store owners believe there is room for a variety of innovative other payment systems besides just coins. We do not always get the same courtesy back from some of those folks.

For eleven years -- ever since the gold colored coins came out --- our facility has made them available. Up until the flood of misleading news releases early this summer about the so called storage waste & specific "nobody wants them" lies --- I was naive enough to think that the dollar bill did not need to be replaced to make the "1/4 the quantity & almost the same 1/4 weight" dollar coins over quarters --- as dominant or more dominant than the quarters.

Our leaders need to hear from us to stop the very recent "much more wasteful to the taxpayer" mandated "insanity" of discontinued "for commerce" President Coins status. To think that the banks "if this new status is alllowed to hold will not deteriorate their service" even more towards us --- is just simply "naive"

Canada has shown the only sensible solution is to replace the dollar paper note with none of the hypothetical "newly created" problems the naysayers are saying. Past generations of USA leadership has had the sense to adjust or replace the formerly used no longer practical paper notes with the coin version --- now it is time to make sure that our leaders know that it is their turn to use the same common sense. If anything --- the replacement of the one dollar paper version with the coin version is long overdue!!! The properly informing surveys show that there is now a clear 2 to 1 consensus of the American People are for the replacement of the Dollar Paper Note as Canada wisely choose almost 25 years ago.

http://dollarcoinalliance.org/

http://books.google.com/books?id=eMF...0money&f=false

We need to let our elected leaders know for the right reasons they need to respond properly or at minimum show us their rationale for their positon.

mike walsh king koin of bismarck
Yup !

Sometimes a law is just the only way.....

seatbelts and motorcycle helmets come to mind....

just having seatbelts as an option is not enough...

you have to REQUIRE their use...

(stop printing small bills ! pity the lap-dancers ;-)
__________________
mike
Reply With Quote
  #15  
Old 12-26-2011, 11:07 AM
Suds Suds is offline
 
Join Date: Sep 2008
Location: Florida
Posts: 201
Default

Quote:
Originally Posted by KJD View Post
Find a bank that will accept 50 pound bags ($1000), has a counter, will ship them off to the Feds, and actually wants customers.
Yeup just turn them in in 50 lb bags. My bank accepts those no problem or added cost.
Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is Off
HTML code is Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Speed Queen Super 20 Quaters getting Stuck Anonymous Questions / Support / Repair

2 11-10-2011 12:19 PM


All times are GMT -5. The time now is 08:07 PM.


Powered by vBulletin® Version
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.
Coinwash.com has the right to cancel Memberships and to block whom ever we choose.
When we feel rules have been broken or the website (coinwash.com) has been misused.
Tell them Coinwash.com sent you...Please

Tell them Coinwash.com sent you...

Tell them Coinwash.com sent you...

Contact the folks at the Laundromat Success Program™ today to make sure your laundromat is safe. It will help you sleep better tonight.

Tell them Coinwash.com sent you...

Tell them Coinwash.com sent you...

Tell them Coinwash.com sent you....

Tell them Coinwash.com sent you...

Tell them Coinwash.com sent you...