Where Can You Cash In Your Coins? Your Complete Guide

If you’ve got a drawer or jar filled with pennies, nickels, dimes and quarters, you’re not alone. The U.S. has an estimated $48.5 billion in loose change sitting in homes across the country, according to government data from the U.S. Coin Task Force. While this might seem like spare change, these dormant coins have actually contributed to disruptions in the broader coin supply system. The good news? There are several practical ways to cash in your coins without leaving them to gather dust.

Bank and Credit Union Options for Cashing Coins

The simplest starting point for most people is their local bank or credit union. Major institutions like Chase, Bank of America, Wells Fargo, Citibank, and U.S. Bank all offer coin exchange services to their customers. According to Steve Kenneally, senior vice president of payments at the American Bankers Association, “The first step is to call your local bank branch and ask about their coin acceptance policy. Some banks want the coins to be rolled, some banks have a big coin sorter and some will ask you to go to another branch because they might share one sorter for the region.”

Before you haul out your change, reach out to your bank or credit union’s customer service team to understand their specific requirements. Keep in mind that if you’re not a customer, the institution may accept your coins but might charge a processing fee for the service.

Coinstar Kiosks: The Convenient Alternative

With over 20,000 Coinstar machines operating worldwide, finding one nearby is fairly easy. These automated kiosks offer a quick solution for turning spare change into usable currency. However, there’s a tradeoff: Coinstar charges an 11.9% processing fee when you exchange coins for cash.

The fee situation changes if you’re open to alternatives. If you choose an e-gift card instead of cash, there’s no fee involved. Coinstar partners with over 20 major retailers including Amazon, Apple, and DoorDash, making this a cost-effective option if you’re willing to spend your converted funds at these merchants.

Local Retailers Offering Coin Cashing Services

Beyond banks and kiosks, some regional retailers have stepped in to help customers cash in coins. During the pandemic’s coin shortage, the convenience chain QuikTrip actually requested change from customers to help address supply issues. Publix, a major grocery chain in Florida, offers its own coin-cashing service, though customers may incur a fee depending on the specific location.

Check with retailers in your area to see if they offer similar services. Local grocery stores, convenience chains, and independent shops sometimes accommodate coin exchanges as a customer service.

The True Cost: Understanding Processing Fees

When evaluating your cashing options, consider the fee structure:

• Banks and credit unions: Usually free for customers, potentially charged for non-customers
• Coinstar (cash option): 11.9% processing fee
• Coinstar (e-gift cards): No fee
• Local retailers: Varies by location

The most economical choice for account holders is typically their bank or credit union. If you lack a banking relationship, e-gift card options through Coinstar eliminate fees entirely if you plan to shop at partner retailers.

Beyond Cash: Digital Alternatives to Spare Change

If you’re trying to avoid accumulating coins in the first place, consider shifting your payment habits. Using a debit card, credit card, or digital wallet at checkout means you’ll receive less physical change. For person-to-person transactions with friends and family, money transfer services like Zelle, Venmo, PayPal, and Cash App provide cashless alternatives that completely eliminate the need to handle coins.

This approach not only reduces your coin collection burden but also simplifies transactions and speeds up checkout lines for everyone involved.

Getting Your Spare Change Back Into Circulation

Whether you choose to work with your bank, use a Coinstar kiosk, or explore local retailer options, the Federal Reserve continues to encourage people to cash in coins and restore them to active circulation. The choice ultimately depends on your priorities—whether that’s convenience, cost-effectiveness, or merchant preference. With multiple pathways available to cash in your coins, there’s no reason to let that change continue sitting idle.