dromero Posted May 7, 2014 Share Posted May 7, 2014 Hi, It turns out I have a rack from which the past month I pulled $300 USD. It took 1 hour to count the coins. It was me and my business partner. He counts the coins by putting them in a flat surface and he first counts 15 coins and later on he simply puts coins to the same height as the first row´s height. I myself count 10 coins and place them in the floor and then repeat this process again and again. It seems to me that both process take the same amount of time. What do you do to count your coins in this types of locations??? And What do you do with the coins afterwards? Link to comment Share on other sites More sharing options...
shepherdsflock Posted May 7, 2014 Share Posted May 7, 2014 I just use the coin counting machine at my bank. $300 would take about 1 minute. After I count them, I deposit them in my bank account. I've found that is the best place to put money. Link to comment Share on other sites More sharing options...
dromero Posted May 7, 2014 Author Share Posted May 7, 2014 I just use the coin counting machine at my bank. $300 would take about 1 minute. After I count them, I deposit them in my bank account. I've found that is the best place to put money. But dont you have to count the coins in front of the business owner to give them the commission? Link to comment Share on other sites More sharing options...
shepherdsflock Posted May 7, 2014 Share Posted May 7, 2014 But dont you have to count the coins in front of the business owner to give them the commission? No, I try to avoid that. Not trying to hide anything, I just don't want to spend an eternity at each location counting coins. Maybe I'm unique, but my locations trust me enough to just send them a check after I deposit my coins. Plus, I don't trust most of the employees at my locations. If I give a manager or some other employee cash, they might just pocket it. I would rather send a check made out to the business so that no embezzlement happens. Link to comment Share on other sites More sharing options...
Nick505 Posted May 7, 2014 Share Posted May 7, 2014 That is what a service receipt is for. You give the location a copy when you service. Would be an easy kick out to offer same day cash. If you don't want to deal with the coins carry cash and pay with paper. I have been doing this and it saves time and most of the locations prefer paper as opposed to coins. Link to comment Share on other sites More sharing options...
dromero Posted May 7, 2014 Author Share Posted May 7, 2014 That is what a service receipt is for. You give the location a copy when you service. Would be an easy kick out to offer same day cash. If you don't want to deal with the coins carry cash and pay with paper. I have been doing this and it saves time and most of the locations prefer paper as opposed to coins. you still most count the coins to know how much to give them according to the comission that was established. Link to comment Share on other sites More sharing options...
shepherdsflock Posted May 7, 2014 Share Posted May 7, 2014 If you really must count coins on site, then you could purchase a portable coin counting machine, or you could use a scale and count them by weight. Link to comment Share on other sites More sharing options...
dromero Posted May 7, 2014 Author Share Posted May 7, 2014 I have a 2 pound scale and it is everything but reliable. Link to comment Share on other sites More sharing options...
Square Posted May 7, 2014 Share Posted May 7, 2014 I pay out on the next service and count coin in front of the TV. Link to comment Share on other sites More sharing options...
dromero Posted May 7, 2014 Author Share Posted May 7, 2014 so they actually trust you. Link to comment Share on other sites More sharing options...
sherlock Posted May 7, 2014 Share Posted May 7, 2014 Order one of THESE and be done with it. I review AcuCount's excellent products somewhere on this forum if you care to read it. Generally speaking, a portable coin counter is your best bed. If you do a forum search for "coin counters" you will find threads with plenty of info on your options. Link to comment Share on other sites More sharing options...
dromero Posted May 7, 2014 Author Share Posted May 7, 2014 Order one of THESE and be done with it. I review AcuCount's excellent products somewhere on this forum if you care to read it. Generally speaking, a portable coin counter is your best bed. If you do a forum search for "coin counters" you will find threads with plenty of info on your options. wow man that seems great, but 400 USD? I think I got a stomache! Link to comment Share on other sites More sharing options...
havending Posted May 7, 2014 Share Posted May 7, 2014 Always count at the location and have them sign a copy of the ticket. You will avoid a lot of confusion and mess that way. Our multi chain accounts get a check with in a day or two of the complete cycle for that chain. Most independent food spots want warped coin. We keep a bank of pay out coin on hand. Many even want to buy more from us less bank trips for them. On locations we use the scale Sherlock posted about fast and easy just show location owner total pay and book down the road. We hand count bills. We use and electric counter sorter to prepare bags of loose coin for bank. If you don't want to buy a scale get a coin tube at twisted quarter. Or we have a manual we will sell cheap Link to comment Share on other sites More sharing options...
sherlock Posted May 7, 2014 Share Posted May 7, 2014 wow man that seems great, but 400 USD? You can save the $400 and keep counting by hand. How much is your time worth? Link to comment Share on other sites More sharing options...
GagesVending Posted May 7, 2014 Share Posted May 7, 2014 I just count by hand; $1 (4 quarters) at a time. Not sure if that's considered efficient or not, but it works well for me. Helps to discard those pennies, nickels and dimes. I put them all into one bag, and have another empty bag where I toss each set of 4 quarters into; and count aloud (but quietly). Link to comment Share on other sites More sharing options...
ska173 Posted May 7, 2014 Share Posted May 7, 2014 I'm with Gages I just count by hand, for some reason the process is therapeutic. I usually just count in my vehicle...not at the location but maybe the next if I can be inconspicuous. When I have more locations it may become untenable but for now I enjoy the counting. Link to comment Share on other sites More sharing options...
GagesVending Posted May 7, 2014 Share Posted May 7, 2014 I'm with Gages I just count by hand, for some reason the process is therapeutic. I usually just count in my vehicle...not at the location but maybe the next if I can be inconspicuous. When I have more locations it may become untenable but for now I enjoy the counting. For my racks, I bring in a plastic tub that holds candy and 1" product and I set it on top of boxes of 2" to form a table. I push my "table" into a corner or somewhere where there's not much activity to count. Link to comment Share on other sites More sharing options...
dromero Posted May 7, 2014 Author Share Posted May 7, 2014 You can save the $400 and keep counting by hand. How much is your time worth? living in a third world country very little lol. Link to comment Share on other sites More sharing options...
dromero Posted May 7, 2014 Author Share Posted May 7, 2014 I'm with Gages I just count by hand, for some reason the process is therapeutic. I usually just count in my vehicle...not at the location but maybe the next if I can be inconspicuous. When I have more locations it may become untenable but for now I enjoy the counting. I will tell you what it isnt therapeutic: the backache at the next day because of crouching for +1 hour counting coins. Link to comment Share on other sites More sharing options...
dromero Posted May 7, 2014 Author Share Posted May 7, 2014 I'm with Gages I just count by hand, for some reason the process is therapeutic. I usually just count in my vehicle...not at the location but maybe the next if I can be inconspicuous. When I have more locations it may become untenable but for now I enjoy the counting. I have to count 300 USD in coins equivalent to a dime. (I live outside the US). Link to comment Share on other sites More sharing options...
TexasFreemason Posted May 7, 2014 Share Posted May 7, 2014 I use a digital scale. I got it at Walmart for 15 dollars. It is accurate. Measures to the nearest tenth of an ounce. 1 quarter weighs one fifth of an ounce. Link to comment Share on other sites More sharing options...
Nick505 Posted May 8, 2014 Share Posted May 8, 2014 Of course, I use a digital scale to get the total gross and calculate how much I owe in commission, then pay in cash. If you divide total ounces by .8 you get a dollar figure. Also quarters weigh $20/lb Link to comment Share on other sites More sharing options...
PowerVendor Posted May 9, 2014 Share Posted May 9, 2014 wow man that seems great, but 400 USD? I think I got a stomache! You can save the $400 and keep counting by hand. How much is your time worth? Get the Acucount AC603 or something similar. If you don't count in front of some owners, they automatically think you are stealing from them. I can acquired many locations - getting others booted - because the owners swore that the vendors who didn't count in front of them were dishonest. Dromero, you can't stay on location counting for an hour by hand for a few hundred dollars. Make the investment and purchase a portable coin counter like a CS-10 http://www.count-money.com/cct300_counter.html. Or, if you don't have that volume you can count using coin tubes: http://www.quill.com/coin-counting-tubes/cbs/UNI06062236.html?promoCode=&Effort_Code=UNI&Find_Number=MMF224000400&cm_sp= Link to comment Share on other sites More sharing options...
rodney69 Posted May 12, 2014 Share Posted May 12, 2014 I use a digital scale. I got it at Walmart for 15 dollars. It is accurate. Measures to the nearest tenth of an ounce. 1 quarter weighs one fifth of an ounce. so how much will this one hold? Then you just divide it by .2? I was thinking about trying that. I have several that I count out. I'll have to check that out. Currently I count them, but I count a selection, then write it down on my tracking sheet. If I row the quarters in my hand, it's about 10.00 down my middle finger. When I count each selection it goes quicker, I know which product is doing good, and I know exactly how much to give people when I have to pay. I can do an 8 selection terminator, and a 3 column sticker machine, 270.00 plus in 35-40 min's. It would make it a lot fast to just weigh it! I'm also going to install a rack and take the 2 out. That will cut time down as well. Link to comment Share on other sites More sharing options...
Tbuford Posted May 12, 2014 Share Posted May 12, 2014 I use electric coin counter/sorter. Cost about 1k, but if you count a lot of coin you need one. I do like to be confident in my count and if I say if there is 165.25 in the bag I give the location that I know there is 165.25 in that bag. Sometimes when I go with my wife rather than bring a counter in she'll count out a couple hundred bucks by hand. It takes her as long to do that as it takes me to work the rack. Link to comment Share on other sites More sharing options...
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