Where can I get free or cheap coin sorting in Toronto?

August 14, 2007 2:15 PM

Where can I get free or cheap coin sorting in Toronto?

I've got a big jar of coins that I'd like to be able to turn into real money. There's a coinstar machine near my house, but it charges something like 9%, which seems crazy.

I bank w. Presidents Choice, who are great, but they have no branches, so I can't just go to my branch.

I gather that in the US, Coinstar has a deal where you can redeem your change for credit on Amazon, with no fee. That'd be fine, but as near as I can tell, we don't have that in Canada.

Anyone have ideas for free or cheap coin sorting in downtown Toronto?

posted by ManInSuit to Work & Money (13 answers total)

There's a coinstar at the Dominion on College. I used it the other day. The other ones must have them, too.
posted by jon_kill at 2:22 PM on August 14, 2007

AFAIK the coinstar in the dominion on college (near clinton or so) returns a certificate to spend in the store, not actual money.
posted by olya at 2:33 PM on August 14, 2007

Can you not just open a dummy account with a Major Toronto Bank and take the coins there? Most banks will count change for customers for free.
posted by unixrat at 2:48 PM on August 14, 2007

Most banks will count change for customers for free.

Just FYI, TD Canada Trust not only will not count change (at least, for personal accounts), but will charge you a percentage for each roll of coin you bring in over six or eight rolls. Something like that. I was astonished.
posted by solid-one-love at 3:23 PM on August 14, 2007

9% is a pretty great deal when the alternatives are either having to count the change yourself or having it just sit there. They do have to pay to build and operate those machines, after all.

Also, I wouldn't recommend this, but the rumor is if you choose one of the online options (e.g. putting the money into an iTunes card), and then you unplug the phone cord in the back, the machine freaks out and just gives you a receipt valid for the full amount in cash with no fee. Of course, that doesn't help you if there are no online options in Canada.
posted by dixie flatline at 5:19 PM on August 14, 2007

I can also vouch that TD will frown upon you bringing in a big jar of coins. They require you to deposit coinage in those cardboard tubes you get for cheap at the dollar store. Though, last time I deposited some $300+ in coins, I didn't get charged any fee (and it was definitely more than eight rolls).

Why not spend a few evenings putting them into cardboard tubes yourself? It's kind of fun in a McScrooge way to line up your coins and realise how much you have saved up.
posted by tksh at 5:30 PM on August 14, 2007

Our (Loblaws) Great Canadian Superstore here in Ottawa (Richmond Road) has a free coin sorting machine in it. My son used it and when it sorts your coins (returning foreign coins to you) it prints a receipt which a cashier cashes for you.

You mentioned President's Choice. They are related to Loblaws so might be able to tell you where the nearest machine or store with a machine is located.

I think that the mint is in partnership with this sorter. There is no charge for its use (I think).
posted by mbarryf at 5:36 PM on August 14, 2007

If you're in TO, why not take a day trip south of the border and stop by a grocery store with a CoinStar that gives gift certs?
posted by blue_beetle at 7:21 PM on August 14, 2007

Try any store owned by the Loblaws/No Frills/Fortinos cabal. Oh, and stay away from those coinstar machines. They return a fairly useless in-store-only voucher that actually -expires- after a certain amount of time.
posted by tehloki at 7:23 PM on August 14, 2007

America machines are going to reject Canadian coins.
posted by Mitheral at 8:21 PM on August 14, 2007

Just FYI, TD Canada Trust not only will not count change (at least, for personal accounts), but will charge you a percentage for each roll of coin you bring in over six or eight rolls. Something like that. I was astonished.

I suspect this is probably a branch-level policy. I've brought in rolled coin to TD+CT before (Church and Wellesley branch) and never had any such charge.
posted by DrJohnEvans at 9:44 PM on August 14, 2007

Response by poster: mbarryf - are you sure the loblaws machine is free to use? Some online searches suggest otherwise (for Loblaws machines in general, anyhow...)
posted by ManInSuit at 8:29 AM on August 15, 2007

There's a coinstar machine near my house, but it charges something like 9%, which seems crazy.

It is crazy.

Why not learn to make change properly? Then, every day when you go out the door, take a small handful of coins with you. They won't last long.

If they are less than 50% pennies, I'll handle your coins for 5% :)
Only if I can avoid the catatonic depression that may result from directly confronting a person who can afford to store money in jars, yet isn't able to make change, of course.
posted by Chuckles at 11:34 PM on August 15, 2007