Job Discussion Forums

mrjohndub · Joined: 19 Sep 2005 Posts: 198 Location: Saitama, Japan

Over the course of the last ten months, I've accumulated a large amount of 5 and 1 yen coins. Like many people, I come home and sort my change. It's a long-held habit.

If I was back home, I'd simply wrap the coins and take them to the bank, or, if feeling a little lazy, find one of those commercial machines that counts coins automatically and issues a cash voucher (usually at a supermarket).

Since vending machines, train ticket machines and the like don't accept these denominations, I'm now wondering what to do with all these coins.

I asked some friends/coworkers about it, and they said I should either (a) mount a large-scale effort to carry the coins with me to pay exact change...something I'd rather not do as I've always found that to be inconvenient...or (b) try to take the coins, somewhat sorted, to the bank and perhaps they will grudgingly accept them for deposit.

So I guess I'm wondering, what do you do with your coins? Have you ever come across a convenient option, such as a commercial machine? Does your bank accept large amounts of coins for deposit? What do businesses do with their smaller change?

Advice? Thanks.

angrysoba · Joined: 20 Jan 2006 Posts: 446 Location: Kansai, Japan

I seem to remember some ATMs that had small hatches that you could pour the coins into and selecting that you would like to make a deposit.

Other than that you can take them to Lawson or other convenience stores and use them. You don't have to count them out because they actually have plastic containers into which they slot the coins. Once the container is full of 1 yen coins then they know they have 100 yen, for example. You will look like a complete pikey cheapskate doing it but at least you will offload your unwanted shrapnel.

JimDunlop2 · Joined: 31 Jan 2003 Posts: 2286 Location: Japan

Personally, I'd just put em into a jar or bag, take em to the nearest bank and tell them to deposit em....

Best case scenario: they'll take em all off your hands and sort them with a machine in like 10 seconds.... (Most likely scenario, given that this is Japan and customer service still exists here)....

Worst case scenario: they tell you to sod off with that stinkin' bag of change... But if that happens, you can at least ask them if/how you can get those rolls/tubes to sort them yourself. (Unlikely).

alexrocks · Joined: 13 Feb 2006 Posts: 75 Location: Kyoto, Japan

I used to be lazy about it too, but now I just spend it whenever I can. You get used to it after a while and become thankful for making the change.

Apsara · Joined: 20 Sep 2005 Posts: 2142 Location: Tokyo, Japan

The banks will deposit them into your account for you- they won't give you notes for them, you have to put the money into your account.

Years ago one of my perpetually broke Nova colleagues made it through his last couple of lean days before payday by taking his 1 and 5 yen coin collection to the bank and depositing it.

I've noticed that the ATM deposit hatches have symbls on them for all the coins- ones and fives as well- maybe try dropping them in there first rather than wait for a teller.

Chris21 · Joined: 30 Apr 2006 Posts: 366 Location: Japan

The banks will take care of it for you.

You can just bring your coins in a big jar, and ask them to change them for you. You'll pay a nominal fee for the amount of coins you bring. I usually bring a huge jar (of about 40,000 yen in small change) and pay about 600 yen for the service. I'm not sure if they'll all do it, but Mitsui-Sumitomo will (at least the one near my house does). I assume they all do it because I've seen their official coin-changing rate sheet.

Or you can do it yourself at the ATM. There is a coin deposit chamber that allows you to drop in a handful of coins at a time. The problem is this can take a long time if you have a lot of coins to change. People waiting in line might not be too pleased, as each handful of coins takes a few minutes to process.

Chris21 · Joined: 30 Apr 2006 Posts: 366 Location: Japan

And I've always been given cash outright after changing my coins.

Hoser · Joined: 19 Mar 2005 Posts: 694 Location: Toronto, Canada

Why don't you just spend it like normal people? I've been in Japan for 1 year and 2 months now and the only spare change I have is the ten yen coin I currently have in my wallet. Paying with exact change instead of just pulling out another bill every time is the best way to save money Smile

Glenski · Joined: 15 Jan 2003 Posts: 12844 Location: Hokkaido, JAPAN

I have a small jar of one yen coins. I make a special effort to put ten or twenty of them in my pocket whenever I go out, especially if I plan to be in a store at any time of that day. Using that few number of coins in place of one or two tens is relatively easy. And, I always try to take out five to nine of them to be sure I can pay for that annoying odd number at purchase time instead of getting any one yen coins back. My wife is big on trying to pay with as close to exact change as possible, so she is always asking me for loose change at the cash register.

If all else fails, dump some in the charity boxes at convenience stores. Do this when you GET the change, so it has no chance to accumulate.

Sweetsee · Joined: 11 Jun 2004 Posts: 2302 Location: ) is everything

If spare change is a problem,
you have too much money.

Spend it.

abufletcher · Posted: Tue May 30, 2006 1:15 pm Post subject:

I noticed that the the piles of change started to dwindle the more I actually listened to and tried to understand the total in Japanese -- instead of just handing over a 1,000yen bill like I used to!

trina · Joined: 23 Apr 2006 Posts: 5

what a world we live in where we`re complaining that we have too much money!!

If it`s such a huge hassle to spend it, why don`t you donate it - family mart, seven eleven...everywhere - have those clear plastic boxes next to cash register which go to charity.

mrjohndub · Joined: 19 Sep 2005 Posts: 198 Location: Saitama, Japan

First of all, thanks for those who gave some practical advice. I never thought that I'd encounter criticism. Some people like to carry around change and some don't. I'm one of those who doesn't.

I make charitable contributions from time to time, and not just change at the register. They are carefully selected for causes that I care the most about.

I ended up taking my change to the bank (Mizuho), put it in the ATM coin slot for deposit, took about ten seperate transactions over ten minutes, eventually tallied Y5,100, wasn't charged a fee of any kind that I know about and left a happy man.

Word.

callmesim · Joined: 27 Oct 2005 Posts: 279 Location: London, UK

Great news.

I have the same problem.

And I think the criticism comes from people who just like to take everything the wrong way. At no point was the phrase "I have too much money" used. If �1 and �5 coins could be used in vending and ticketing machines, I don't think it would be a problem.

Anyway, great to hear you had some success, I might go and do the exact same thing.

Also, saving the coins at the end of each day isn't a sign of too much money - it's a great way to save without realising. Look after the pennies....

Sweetsee · Joined: 11 Jun 2004 Posts: 2302 Location: ) is everything

No it is not a sign of having too much money,
not knowing what to do with it is.
Hope that was not construed as critical, because
it was not intended to be. Just seems that saving
coins and accumulating them are two different
things. People saving coins have more money,
you know, more money more problems, right?