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Re-activateVending machines and parking meters rarely take them anymore. Many cashiers can't be bothered with them. I've even seen signs on fountains discouraging people from tossing them in to make a wish (something about discoloring the marble, I believe).
If you have a growing pile of pennies at home, not because you're speculating on the price of copper, but simply because you can't figure out what else to do with them, here's one option I recently became aware of: dump them in a Coinstar machine at your local supermarket and take your money in the form of a gift card.
Coinstar normally redeems pennies and other loose change in return for a cut of 8.9 percent. However you can get full value for your coins if you exchange them for a gift card or certificate good at Amazon.com, CVS, iTunes, or a bunch of other places. While Consumer Reports has often pointed out the pitfalls of gift cards, they are, at least, less hassle than pennies.
There may be other Coinstar-like companies doing something similar. And if your bank accepts pennies, that could be another option, though you may have to count and roll your coins first. Be sure to call ahead before you show up with a steamer trunk full.
But so far this is the easiest way I've found to get rid of pennies and get something in return for them. Anybody have other, or better, ways? Please share them here. Maybe we'll even help stimulate the economy while we're at it. --Greg Daugherty
When he isn't counting his pennies, Greg writes the "Retirement Guy" column each month in the Consumer Reports Money Adviser newsletter.
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