Coin machines, like the ones used in banks or at Coinstar kiosks, use a combination of physical and electronic methods to sort, count, and even validate coins.
Here’s a breakdown of how they generally work:
- Coin Input and Initial Filtering:
– Coins are poured into a hopper or tray.
– Some machines have mechanisms to spread the coins out, or allow them to fall into slots or channels, preventing them from jamming.
– Initial filtering may occur here, rejecting coins that are excessively dirty or too thick/thin.
- Coin Sorting and Identification:
– Size-based Sorting: A common method involves channels or holes of progressively larger sizes. Small coins fall through the first opening, while larger coins continue until they reach a hole that matches their diameter.
– Weight-based Identification: Some machines utilize scales to determine the weight of individual coins or batches, helping to identify denominations.
– Magnetic and Electrical Property Analysis:
– Coins are often passed through electromagnetic fields, and the way they disrupt the field reveals information about their metal composition.
– Different metals have distinct magnetic properties, so this helps in discerning valid coins from foreign currency or slugs.
– Optical Scanning: More advanced machines may employ optical sensors to visually examine the coins’ surface, checking their color and reflectivity, [according to YouTube].
- Counting and Validation:
– As coins pass through the sorting and identification stages, sensors count the individual coins of each denomination.
– The machine’s internal computer keeps a running tally of the total value.
– In addition to sorting and counting, these systems can perform validation checks to ensure the coins are legitimate currency. If a coin fails these checks, it is usually returned to the user through a reject tray.
- Output:
– Once the counting and sorting are complete, the machine typically provides a summary of the total value.
– Users can choose to receive a voucher for cash, an eGift card, or in some cases, donate the amount to a charity.
– Some machines also dispense the sorted coins into separate compartments or bags for easier handling and banking.
How much does Coinstar take out of $100?
Thanks for asking. Calculate Coinstar’s Fee
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. You’d have to guess how much change you have accumulated to calculate the Coinstar fee.
How do I avoid the fee at Coinstar?
Opt for eGift Cards. To sidestep the Coinstar fee, opting for an eGift Card with a 0% fee is your best bet. …
Donate to charity. Coinstar also waives their fee when you donate directly at a kiosk (bonus: it’s a tax deduction).
Is it worth going to Coinstar?
Yep, Coinstar will give you full value of your coins if you get a gift card or eCertificates instead of cash. No fee at all.
What percent of your money do coin machines take?
If you decide to turn your coins in for cash, there is a service fee up to 12.9% + $0.99 transaction.