A new coin-cashing machine is set to release thousands of forgotten pounds hoarded in jam jars and piggy banks. Andrew Hamar, who runs the Wisebuys store on Lee Lane in Horwich is one of the first stores in the North West to install the ‘CoinCasher™’. Customers bring in their collection coins and tip them into the machine. It automatically counts the coins and prints a ticket, which they can then exchange at the till for goods or cash. ‘It’s so simple,’ said Andrew. ‘And, everyone who’s tried it thinks it’s a great idea. They don’t even have to sort the coins into different denominations, just tip them straight in from their jam jar or piggy bank.
Alternatively, we provide strong plastic coin bags that they can take home and fill up. Most of the banks and building societies limit the amount of loose coins you can deposit and some will only let you pay them in at certain times, and, of course, you have to be a customer. With the ‘CoinCasher™’, there’s no limit and anyone can use it whenever we’re open. We’ve even cut the cost of using it to just 71/2 pence in the pound ‘
The Royal Mint estimates that there are more than £600 million hoarded in jam jars and moneyboxes – that’s £27 of forgotten cash for every household in the country. In a recent survey, most people agreed that if there was a simple, convenient way of cashing in these coins, they’d use it.
And according to Andrew, that’s exactly what they’re doing.
‘Once customers discover the machine they want to try it, and most are surprised to find just how much they have collected.
The company behind the ‘CoinCasher™’ is SCAN COIN, Britain’s largest independent supplier of cash handling equipment.
‘Our machines are normally hidden away in cash offices,’ said Steve Fitton, the sales director for the company. ‘But the ‘CoinCasher™’ is a self-service machine so easy access is essential. It takes up very little room and is ideal for even the smallest stores. It means they can provide a service to their customers and the community that is not readily available elsewhere. It has the same coin handling technology as the machines we supply to banks around the world to ensure the accuracy and reliability. Cash dispensers have become popular in local stores and we can see coin cashing machines also providing a valuable service. ‘
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