The Funny Thing About Loose Change
The funny thing about loose change, put it
in a jar at the end of every day and before you know it, in about 10 years
or so, you’ll be surprised to find you have accumulated several thousand
dollars. If one already does this, they already know that the overall
process has to be managed two to three times a year. Here are some tips
from an old hand. This only applies if you have enough sense to pick up
your change from off the floor.
1. Try to kick the pennies out as much as you can during the day, they
are labor intensive to process and storage cost to value ratio is very
high. Pennies are break even at best, and likely create a loss.
2. Spend the pennies when you can. Avoid kicking in the 2 or 3 pennies
to the penny cup on small purchases. That is 3% of your dollar on a 97
cent fountain drink. When excessive pennies accumulate during the day,
upgrade your value by exchanging for nickels and dimes. Put any leftovers
in the penny cup by the cashier at the end of the day, up to four. (Your
nuts if you dont think these clerks are rolling up a pack or two of cigarettes
everyday. )
3. Keep any wheat back pennies, they may be valuable.
4. Nickels are damn close to pennies. However, never pass up a nickel.
Although bulky to store, you know the saying about being penny wise.
5. Dont take any wooden nickels.
6. Dimes are cool. Nice to spend by the roll and they dont bulk down the
pocket. Each one, although smaller than the lowly penny, holds ten times
the value. Storage space required per unit value is minimum.
7. Quarters. The mother load. Bulky and use lots of storage, but they are
valuable. Hoard as many as you can.
8. Keep all bi-centenial quarters seperate; treat as collectible. (If damaged
or really worn, roll it.)
9. Fifty cent pieces and dollar pieces keep seperate. Use the dollar
pieces on the toll way if you dont have enough sense to use a toll pass.
I hardly ever see fifty cent pieces so they must be rare, treat them as
collectibles until further notice.
10. Buy a good sorter. The cheap ones get jammed a lot and are not good
for production work. If you have enough discipline to drop your change
in the sorter every day, a cheap sorter might suffice. If you can swing
it, get a sorter that you can insert the rolls in before the cylinder fills.
Saves an irritating step in the process.
Thats about it. Need to go wash the truck? Easy. Just grab a roll
of quarters. Kids always raise hell at the local mexican food restaurant
for the gumball machines? No problem. Have a roll of quarters ready and
smoke that last butt in peace.
This system works for paper money too. And cars.