Friday, June 08, 2007

Use your loose change to buy Postal Stamps

I keep a small box in my locker into which every now and then I throw all loose change that tend to accumulate in my wallet. Recently the box was almost full and i was looking for a way of using them without too much work. I had seen coin changing machines like Coinstar in my local CVS pharmacy but they charge something like a 9% commission for changing them. Moreover, I can only get back gift certificates for the coins exchanged and not dollar notes. I did not want to use these machines due to the commission charged and to the fact that i could not get dollar notes in exchange.

It was then i chanced upon a USPS Stamp Vending machine in my office cafeteria which accepts coins of all denominations - 1 cent, 5 cent, 10 cents etc. So I use my loose change to buy stamps I need - no commissions and moreover, saves me a trip to the local Coinstar machine. Some people may argue that they do not need so many stamps but I buy stamps almost every other month so that is not much of an issue for me anyway. For people who buy stamps infrequently, suggest that they buy forever stamps that can be used literally, forever !!


Nigel said...

Try calling your bank if you have a local checking account. Ours is Chase, and they will happily exchange coins (using a coin sorting machine) for dollar bills without any commission.

Another place you can use coins (even pennies) is tollbooths -- if you have to pay toll while driving.

Prasanth said...

Nigel, yes i knew about the bank and tollbooths - but i still have to go to the bank to exchange coins - I have the stamp vending machine right in my office - so i save the commute. Also, I do not have any tollbooths near by.

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