In New Jersey, the accuracy of some coin counting machines is being called into question. It all started with Matt Ventrella and his husband, Fred. They said they were saving, penny by penny, to bring their family to Disney World. After collecting $248 in change (they planned on buying souvenirs with this money) they brought it to their local bank?s Penny Arcade coin sorter and counter — only to be told it was worth $204.
Coin Counter Machines Not Adding Up in NJ
Channel 6 ABC decided to investigate whether this was a one time event, or something more common than most people know. After all, who bothers to count out the hundreds of pennies, nickels and dimes they plan to turn in for cash? Most people can?t be bothered — but perhaps that?s why companies haven?t been trying too hard to ensure machine accuracy.
After the Channel 6 team took a $100 rolled coin to various coin counting machines across the city, they found that one one of 17 kiosks gave back the correct amount of time. In most cases, though, the machines were nowhere near as inaccurate as it was in Ventrella?s case — the machines were usually off by under a dollar. It?s also worth remembering that typically companies will charge a percentage of the coin sum if you?re not a member of their bank (though this wasn?t the case at the original kiosk). Luckily, Ventrella?s bank refunded him his missing money — so let the Disney trip commence!
The Majority of Coin Sorter and Counter Machines are Very Accurate
Luckily, most coin counting machines work more than fine, and this case seems to be more of an exception than anything else. In fact, counting notes by hand is rarely recommended — not only is it time consuming but counting bills and coins by hand often takes two or three times to do accurately. The benefit of using a currency sorting machine is dual for businesses. Not only can these machines help to determine accurate change quickly and easily, but they can also successfully detect counterfeits. While this isn?t as important for coins, it?s certainly an ongoing major concern for bills. A counterfeit bill detector machine can often save a business hundreds of dollars that they would otherwise lose by accepting false currency.
Ultimately, if you’re like most people saving up for a trip or a new couch with a giant jar of coins, you’re not going to want to meticulously count them out by hand and put them into coin rolls. Instead, coin sorter and counter machines are going to be a great help.