Those get shipped off to customers - banks, stores, supermarkets, etc. Next, humans take the rolls and box them. Then they’re weighed and sleeved into plastic rolls of pennies, quarters, etc. The coins get filtered once again (thousands per minute), then go up a conveyor belt and down individual tubes, sorted into each denomination. Read more: Sources polygon flow monday nftsnelsoncoindesk
BRINKS SECURITY BOX FULL
The full one gets loaded onto a truck and sent to a regional Brinks warehouse. (The latter are filtered out by a special sensor that reads each coin - or each coin-shaped thing, rather.) Once the bins in the machine fill up (they hold up to 500 pounds), a technician is automatically called to swap it out. Well, first they have to sort out the good coins from everything else: that means paper clips, pocket lint, gum, foreign coins (like Canadian pennies) and slugs that people try to slip into the machines. What the hell does Coinstar do with all that change?
Some guy in Alabama brought in $13,000 in pennies at one time! Do the math: That’s over a million pennies. That’s a lot of coins! What’s the most money someone’s thrown into a Coinstar machine? He’s the kind of guy who does stuff like buying The Scream - like, the actual painting - for $119 million. That is all to say that Coinstar is further enriching, one tarnished coin at a time, Apollo’s founder: a formidable figure in mergers-and-acquisitions circles named Leon Black (not this one). In 2012, Coinstar was reported to have a quite healthy operating margin of 25 percent on the coin machines. Yeah, it was lucrative, at least at one point. This site estimates the company’s annual revenue at $336 million. The company was once merged with Redbox, the DVD company, but that company was bought by the massive private equity firm Apollo Global Management in 2016, and it split Coinstar and Redbox apart. It’s currently a private company, so it’s hard to say. Read more: Auction coin crypto price prediction Or you can donate your coin total to one of a few large charities - the Red Cross, UNICEF, WWF, etc. Gift cards can be had for most Middle America chain restaurants and retail stores, from Applebee’s to Starbucks to Home Depot. You can also turn your money into a gift card, and for that there’s no fee (Coinstar sorts that out between the restaurant/store). It’s a lot! Coinstar takes an 11.9 percent cut - sorry, “service fee.” For every dollar of heavy metal you put in, you get 88 cents back in a voucher. Stores like to have them because, according to Coinstar, most customers spend at least half the cash they just converted within the same store. It’s got 20,000 of those machines across the world and processes 43 billion coins annually.
So, Coinstar machines: big business in small coins, huh?
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