Do you have a habit of keeping the loose coins?
By Bebs08
@Bebs08 (10681)
United States
May 30, 2010 11:22am CST
I do. I always keep the coins and put in in a box. I segregate it by denomination. I like collecting them not for just keeping it for souvenir or what but for future use. I know we can use it when someday we have no more money the coins could saved us. It happened to me before. I can never imagine that the coins I keep would help me buy something that I really need the my regular budget could not make it. Do you have the same habit of keeping the coins instead of just throwing is away?
7 people like this
48 responses
@zukichucha (991)
• United States
31 May 10
I have two cans for collecting coins. One is where I keep quarters to wash and dry clothes on the weekends. The other I put away pennies for Christmas. The day after Christmas I take my girls to a coin star to redeem the can of pennies and they get to split the money to buy something that has now been clearanced. It teaches them to save and to bargain shop at the same time!
@zukichucha (991)
• United States
31 May 10
Yes it shows them that every penny counts. A lot of people do not even use pennies and I have even seen people toss their pennies in the street. Last year we were able to save over $48 in pennies. The girls each got $20 and they gave me the other $8 so I could buy myself something. $20 is a big deal to a 5 and 9 year old! This year they are really into it so I predict we will have a lot more than last year.
2 people like this
@sallyj (1225)
• United States
31 May 10
We have a jar for the small amounts that go to the grandchildren. the larger coins get put into folders and occasionally to the bank for larger paper money. The US has new state quarters, nickles that i roll up and save as i did the bicentennial coins.
2 people like this
@sallyj (1225)
• United States
31 May 10
I see you are from the US. They have added a few newer coins. I believe it is like the islands and such that are connected to the US somehow, I'm not into geography but i am aware that my DIL returned some coins that were new and she was sure we would want them for our collection. With out going into that room i cannot say exactly what they were. One was Guam i think.
2 people like this
@Mitraa (3184)
• India
31 May 10
I do not plan or make savings in this way. But I have a habit of keeping coins of about 10 INR for my small expenditures. In no case, I ignore the worth of these coins those join to make a large value of money for a bigger purchase! Thanks for this nice topic on keeping coins and have better savings always, because money saved is money earned!!
@shiloh_222 (5479)
• Philippines
31 May 10
hi. my brother got a small coin bank for that while i would keep them all in my wallet for faster and easier access. though he has been ecncouraging me to do that to the point of giving me his spare coin bank which i havent used for months. maybe i should get into that habit.
happy mylotting.
1 person likes this
@shiloh_222 (5479)
• Philippines
31 May 10
wow that much? i should try it! LOLz. by the way, how long does it usually take you to reach that much?
1 person likes this
@vivapinay (231)
• Philippines
31 May 10
Yes I do keep coins. I always collect Php 5 or 10 pesos coins, these are the bigger denomination of Philippine pesos. Then I put them on a piggy bank. When its full, I open it and to be added to my next deposit it in my account.
Or sometimes, when the budget is low, I could use it for emergency case.
2 people like this
@rajaiv0810 (1012)
• Philippines
31 May 10
Yes I do. Most especially the P5 and P10 denominations. I also use it for future use. For example my goal today for the coins that I have been keeping is for the birthday party of my children. I was able to save quite a big amount already. I can use it for shopping for the food and other things needed for the party. In that case I wouldn't be coming out of the big amount instantly from my wallet because I was already able to save all those coins.
I have an aunt who has these big fish bowl at home full of P10 and P5 as well. I remember last time when my uncle had been sick and they had to bring him to the hospital and the medicines were very expensive those coins where very helpful. It reached the amount of P23,000.
So I think for all of us here maybe we should make it a habit to save even for just a few coins, we wouldn't know it when it will come so handy for us.
1 person likes this
@rajaiv0810 (1012)
• Philippines
31 May 10
Not years, I think only a year and a few months. My aunt would have her P20 or P50 changed sometimes deliberately. Right now she already got 2 fish bowls full of coins. I just didn't asked her how long had she been saving for the 2 fish bowls. But if in case emergency cases occurs again she have these coins ready. CASH.
1 person likes this
@creationsbyrobin (3071)
• United States
30 May 10
I keep them also, and my youngest son always finds coins on the ground outside. He saves them in his "piggy-bank" and when it's full, he brings them to the bank and deposits them in his savings account. He's found found nearly $150 in coins over the last 4 years (at Disney last summer, he found more than $4 in one day!)
A little coin info... the metals used to mint USA pennies prior to 1982 are actually worth twice as much as the coin! And the metals used to make a nickle are worth a little over 6 cents last time I looked. No wonder why the US made so silly law claiming it's a crime to melt down pennies and nickles...how can melting down YOUR money be a crime...maybe it's not really my money...hmmm
1 person likes this
@creationsbyrobin (3071)
• United States
1 Jun 10
And now his friends all look for coins on the ground too! It's funny how many people drop coins on the ground...do they not know they dropped the money, or do they not care because it isn't worth the effort to bend down and pick it up?
It is rare that I don't find a beat-up penny or nickel in his pants pocket at the end of the day. We walk the same way to and from the school bus each day, and he plays in the same area in front of our home...yet he keeps finding coins (Yay for him, as this has taught him to save his "found" money in a savings account)
@jdyrj777 (6528)
• United States
11 Jun 10
When i first started rolling the coins i didnt take then to the bank right away. They sat around here in a huge tin. The tin get so heavy i could not lift it. I had to pull it. Once while pulling it the seam broke that was the day i desided to take it to the bank. There was over $400. I had to carry it out in loads because it was too heavy to carry all at once. Since then i take it when ever i have a few rolls. It was quite a job taking them to the bank that first time.
@Bebs08 (10681)
• United States
11 Jun 10
That idea is very encouraging. I saw some people just throw their coins anywhere. They don't give value into it but I realized, even pennies are money and we must give importance to it. Anything you buy when you lack penny the sale will not be complete. So, penny is still important.
@jaiho2009 (39141)
• Philippines
30 May 10
Yah,i also like saving coins.
I have two coin bank in my room where i put 25 cents.
25 cents here in my country is less value esp with kids.
They won't accept it when you gave them 25 cents,so,what i did is to save those coins and when i know i already saved enough,bring it to the bank for a paper bill.
Sometimes,my youngest son took those coins and bring to store that needs coins,and there he can bought some candies.
@Bebs08 (10681)
• United States
30 May 10
That is a very good idea. What I do also sometimes is use the coins to buy something in the department store because they really need coins for change. But as for now, I keep it in the box and try to keep it until the box will be full and change it for paper bills in the bank.
@jaiho2009 (39141)
• Philippines
30 May 10
yah,i been doing this for years already.
and,it's a good help when i run out of cash,coins are good alternatives
1 person likes this
@slovenc1 (2089)
• Slovenia
10 Jun 10
I sure do share your habit. I always have coins sorted by value and in small boxes. Recently i went to bank and changed my change to bills and the counting machine probably made a mistake for 20c but i didn't want to wait another 5 minutes for recount so i gave an extra 20c coin. And i collect coins from 1€ down(50c is the first one) and i got a 50€ bill! Just love coins:P
1 person likes this
@Bebs08 (10681)
• United States
11 Jun 10
Oh? that's a good money from the lose coins? I am now keeping all the coins I can find anywhere else. Some people don't mind the pennies but when I read one of the response here that she made a hundred dollars from pennies? it encourages me to give value to every penny I can find anywhere.
@AjaySinghBaghel (5506)
• India
31 May 10
yes I do, I keep them to use in the bus. There are different rates for the the destinations and if you keep collecting coins from the bus conductor your wallet will be full of it. So better to keep the existing ones and use them. I have a container in which I store all the coins and get some of them every day as per the requirement in the bus.
@Bebs08 (10681)
• United States
31 May 10
Oh!! that is good at least your coins had helped you. In my place now, there is no bus or jeepneys that need a coin,, so whenever we have loose coins, I am keeping it in the box. But I don't collect 5 cents and 1 cent. I keep the quarters and 10 cents.
@StephanieAnnC (4274)
• United States
30 May 10
Sometimes, I take it and put it in my pocket. Then, when I get home, I put in a jar which I keep all my loose change. Then, when it is filled, I bring it to the bank and exchange it for cash. (:
I know someone that if they see a penny tails down on the floor, they will take it and place it head side up and walk away.
@Bebs08 (10681)
• United States
30 May 10
Oh!! That is a very good idea. I like that!! Though I keep the loose coins but never bring some to the bank. Instead I bring it to dollar store and bought something/ But I go for that idea, maybe I will take these box I have now when it is full to the bank.
@StephanieAnnC (4274)
• United States
30 May 10
Aw. I feel privileged now. (:
Yours is a good idea. Maybe I'll do that too. LOL
@mapleleaf2010 (1)
• China
31 May 10
Hi! could you tell me what "head side up" meaning?
I dont have that habbit. once I have some, then I spent them when I bought vegetables.
@joey_matthews (8354)
•
26 Oct 10
I have a coin collection but generally those are rare coins.
The loose change we have goes to our children, as my wife and I like to see them save up. It's something we feel is very important, as with life now they will want money to buy things that they see and they need to understand the importance of putting cash on the side and doing things to earn it.
1 person likes this
@grecychunny26 (9483)
• Philippines
9 Jun 10
Yes I have a piggy bank. But me I only keep the new one peso coins, new five peso coins and new ten peso coin. I also have the 25 cents but until now I stop doing it as I always need it when traveling. Yes it could save us, I did not have a transportation money before , last year to be exact. I crash my piggy bank and I used the coins as my transportation money. I did bought a new piggy coin bank after and I put all the coins the way I keep it before. Until now that piggy bank is still not been crashed since I still have money for transportion.
1 person likes this
@Bebs08 (10681)
• United States
11 Jun 10
I understand that situation specially when you are riding a public transport where you need cash everyday. For me, so that I can save more, I am not buying piggy bank for my coins. I just use the can of the chips? the long cans for chips? we have that so, I use it for my coins in different denominations.
@6precious102 (4043)
• United States
1 Jun 10
I usually take my loose coins and put them away in my chest of drawers. I'd never throw a coin away. I even pick them up off the ground and keep them.
@greenfeathers (1206)
• United States
1 Jun 10
We do as well..with quarters going to laundry, cents going to a jar on the shelf and everything else going to busfare and the munchies machine at work. When the cents add up to enough we cash out and use for groceries..Enjoy!
1 person likes this
@dpalais (130)
• Philippines
1 Jun 10
I do collect coins. The only thing that I cannot do is that put them in one place. I place them in a drawer, in the box or in the table. I use them in times that I am short with my budget also. It's effective because loose coins save me in times that I really do not have available money to spend. I also know some one like you that collects and segregate coins by value and its great because he always have money to spend.
1 person likes this
@Professor2010 (20162)
• India
10 Dec 10
Here in india our currency is rupee, we have 5, 1, 2 ruppe coins, plus half, quarter, one fifth, one tenth, one twentith, one fiftith even one hundreth of a rupee coins, in the mall we see only 5, 2, 1 and half ruppe coins, others are not seen, they lost their value totally, a begger also is reluctant to accept one rupee coin these days
In my purse you may find some 5, 2, 1 rupee coins lol
Thank you so much for this post.
Professor ‘Bhuwan’. .
God bless you.
Welcome always.
1 person likes this