Most banks will exchange coins for cash, but the rules vary by bank and account type
Yes, most banks exchange coins for cash at no charge if you have an account with them. The exchange happens at the teller window during business hours. You hand over your coins, the teller counts or weighs them, and you receive bills or a deposit to your account. The process takes a few minutes to half an hour depending on the volume and whether the teller counts by hand or uses a machine.
The catch is that policies differ. Some banks limit how much coin they will exchange in one visit. Some require the coins to be rolled in paper wrappers (the standard rolls: pennies in rolls of 50, nickels in rolls of 40, dimes in rolls of 50, quarters in rolls of 40). Others accept loose coins but run them through a counting machine. A few banks charge a fee if you are not a customer, or if the coins are extremely dirty or damaged.
If you do not have an account at a bank, or if your bank has restrictions you cannot meet, a coin-counting machine at a grocery store or laundromat is the fallback. Those machines charge a percentage — usually 8 to 10 percent — but they work with loose coins and no questions asked.
Key Takeaways
- Banks that hold your account will exchange coins for cash or deposit at the teller window, usually at no cost.
- Some banks require coins to be rolled in standard paper wrappers; others accept loose coins and count them by machine.
- A few banks set limits on how much coin they will exchange in one transaction, so call ahead if you have more than a few dollars.
- Non-customers and customers with restrictions can use a coin-counting machine at a grocery store or laundromat, which charges 8 to 10 percent of the total.
- Coins that are heavily corroded, foreign, or damaged may be refused by both banks and machines.
What your bank will and will not accept
U.S. coins in standard condition — pennies, nickels, dimes, quarters, half-dollars, and dollar coins — are accepted by all major banks. The coins do not have to be new or shiny. They do not have to be sorted by denomination, though sorting makes the teller's job faster. What banks will refuse are coins that are bent, heavily corroded, or so worn that the date is unreadable. Foreign coins, tokens, and damaged coins that look counterfeit are also turned away.
If you have a mix of damaged and good coins, the teller will separate them. The good ones get counted and exchanged. The damaged ones are set aside, and you can take them back or leave them. Some banks will send damaged coins to the Federal Reserve for destruction and replacement, but this is not your concern as a customer — the bank handles it.
How to prepare your coins before you go to the bank
Call your bank first. Ask whether they require coins to be rolled, whether they have a limit per transaction, and whether there is a fee for non-customers. This takes two minutes and saves a wasted trip.
If your bank requires rolled coins, buy coin wrappers at a grocery store, pharmacy, or online. They cost a few cents per roll. Roll the coins by denomination — all pennies together, all nickels together, and so on. The standard rolls are: 50 pennies ($0.50), 40 nickels ($2.00), 50 dimes ($5.00), 40 quarters ($10.00), 50 half-dollars ($25.00), and 25 dollar coins ($25.00). You do not have to be exact — if a roll has 48 pennies instead of 50, the teller will accept it.
If your bank accepts loose coins, bring them in a bag or container. Do not bring them in a sock or pillowcase — the teller needs to pour them into a counting machine or onto the counter. A plastic bag, jar, or coin purse works fine.
What happens at the teller window
Hand your coins to the teller and say you want to exchange them for cash or deposit them. If the coins are rolled, the teller may count a few rolls to verify they are correct, then weigh the rest or count them by machine. If the coins are loose, they go into a counting machine that sorts and totals them by denomination in a minute or two.
Once the total is confirmed, you have two options: take the cash, or have the amount deposited into your account. Most people choose deposit because it is faster — the teller enters the amount into the system, and you walk out. If you want cash, the teller counts out bills and hands them to you.
The whole process takes 5 to 15 minutes if the coins are rolled, or 10 to 30 minutes if they are loose and the machine is busy. If you have a very large amount — more than $100 in coins — the bank may ask you to come back another day so they can process it when the branch is less busy.
Coin-counting machines as an alternative
If your bank will not exchange your coins, or if you do not have a bank account, a coin-counting machine is the next option. These machines are found in grocery stores (near customer service), laundromats, arcades, and some pharmacies. You pour your loose coins into the hopper, the machine counts and sorts them, and you receive a receipt or cash.
The fee is usually 8 to 10 percent of the total value. So $100 in coins becomes $90 to $92 in cash. Some machines offer a no-fee option if you take the result as a gift card for that store instead of cash — Coinstar machines at grocery stores, for example, let you convert coins to an Amazon gift card at no cost.
Coin-counting machines accept loose coins only. They do not accept rolled coins, and they will reject coins that are too damaged, too dirty, or foreign. If a coin gets stuck or rejected, the machine usually spits it back out into a tray at the bottom.
When a bank will charge a fee
Most banks charge nothing to exchange coins if you have an account. However, some banks charge a fee in these situations: if you are not a customer of that bank, if you exchange more than a certain amount in one visit (often $500 or more), or if the coins are extremely dirty or require extra handling.
The fee, when charged, is usually a flat amount — $5 to $10 — rather than a percentage. Before you go to a bank where you do not have an account, call and ask about their policy. Many community banks and credit unions will exchange coins for non-members at no charge, while some large national banks will not.
Frequently Asked Questions
Can I exchange coins at a bank where I do not have an account?
Some banks will, and some will not. Call ahead. Community banks and credit unions are more likely to say yes. Large national banks often refuse non-customers or charge a fee. If the bank says no, use a coin-counting machine instead.
Do I have to roll my coins before I bring them to the bank?
It depends on the bank. Call and ask. If they say yes, buy coin wrappers and roll them by denomination. If they say no, bring them loose in a bag. Rolled coins are faster for the teller, so some banks prefer them, but most modern banks have machines that count loose coins just as quickly.
What if my coins are dirty or tarnished?
Light tarnish and dirt are fine. Banks and coin machines reject only coins that are heavily corroded, bent, or so worn that the date is unreadable. If you are unsure, bring them in and let the teller decide. They will separate the good ones from the bad ones.
Is it faster to use a coin-counting machine or go to the bank?
A coin-counting machine is faster — usually 2 to 5 minutes. But it charges 8 to 10 percent. The bank is free but takes 10 to 30 minutes depending on how busy they are. If you have less than $50 in coins, the machine fee might be worth the time saved. If you have more, the bank is cheaper.
Can I exchange coins for a specific type of bill?
Yes. Tell the teller what bills you want — "I need five twenties and the rest in tens," for example — and they will count out that combination. This is a normal request and takes no extra time.