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Where to exchange lots of silver coins

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#1 VVV

Posted 19 January 2020 - 12:07 PM

We have at a guess approx $150 - $200 worth of silver coins that has come about from chucking them all in the one place over the years. We would like to exchange these for notes so that my daughter can have this money to spend at special occasions. My dilemma is how do I go about exchanging this? We bank with a bank that has no physical branches. Any ideas please?

#2 ~Jolly_F~

Posted 19 January 2020 - 12:10 PM

Most banks will do it, some charge a small fee if you don’t hold an account with them.

Edited by ~Jolly_F~, 19 January 2020 - 12:14 PM.

#3 Expelliarmus

Posted 19 January 2020 - 12:12 PM

You don’t need an account to exchange them. Just pop into a bank and swap them.

#4 MerryMadrigalMadge

Posted 19 January 2020 - 12:15 PM

Your bank should have a relationship with another bank that allows usage of their branch net work.  eg how would you deposit a cheque into your account?

Go into that bank branch and deposit over the counter if through a coin machine and then withdraw the equivalent cash.

#5 VVV

Posted 19 January 2020 - 12:18 PM

 MerryMadrigalMadge, on 19 January 2020 - 12:15 PM, said:

Your bank should have a relationship with another bank that allows usage of their branch net work.  eg how would you deposit a cheque into your account?

Go into that bank branch and deposit over the counter if through a coin machine and then withdraw the equivalent cash.

Cheques are mailed directly to an address provided by the bank - there is no relationship with another bank

#6 Luci

Posted 19 January 2020 - 12:24 PM

I bank with commonwealth bank. They have a few coin counting machine in their beaches. I think non bank members can also use them, they just charge a small fee.

#7 joeyinthesky

Posted 19 January 2020 - 12:24 PM

I’ve done this in the past... just pick a bank - I went to ANZ because it happened to be the closest on the day. They do charge a small fee.
Be warned, they do ask you to have it counted and sorted (e.g. $10.25 in 5c coins, $20.50 in 50c coins) they will weigh it to confirm but won’t count it themselves.

#8 Fossy

Posted 19 January 2020 - 12:43 PM

Find your closest bank with a coin counting machine, find a friend who barks there and go with them. Simply tip the Container of coins straight into the machine, your friend takes the slip to the counter and they give them notes, no charge, takes all of 2 minutes.  I do this regularly for my mum at our local NAB.
if you go on the banks websites you can search for coin counter locations.

Edited by Fossy, 19 January 2020 - 12:44 PM.


Posted 19 January 2020 - 12:56 PM

I use the CBA coin-counting machine but I'm with the CBA.  The 'small fee' is actually 10%... so for $300 in coin you'll actually only get $270 if you're not a customer with them.

#10 luke's mummu

Posted 19 January 2020 - 02:57 PM

I’d use the self-service checkouts at Coke’s/woolies and pay in the small coins, then give your daughter the equivalent in notes. That way over a few months there’s no “ fees”.

#11 Cocoa Trufflespice

Posted 19 January 2020 - 03:34 PM

If you’re with Westpac you can  put them into the coin counting machine and deposit the amount into your account. Then go to the normal ATM and withdraw the amount in notes. I do this all the time. Easy!

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