There is a good chance that at some point you have walked into a video arcade, laundromat, or car wash, and all you had were bills, but the machines only accepted quarters. Thankfully, there was a coin change machine in the corner. With the ability to quickly convert your bills or even cards into quarters or tokens, these machines make it easier for customers to enjoy coin-operated services without hassle.
What is a Coin Change Machine?
A coin change machine is designed to accept bills, coins, and even card payments and exchange those forms into coin currency.
The process is relatively simple: insert your bills, card, or loose change, and the machine will dispense the equivalent value in coins, which in most cases are quarters. Unlike a coin counting machine, which primarily counts and sorts loose coins, or a coin exchange machine, which allows customers to trade in mixed coins for bills, coin vending machines are all about convenience.
Coin change machines provide quick access to coins on demand, making them essential in businesses where customers need quarters, or in some cases, tokens, to operate machines.
Benefits of Using a Coin Change Machine
Installing a coin change machine in your business brings in a number of benefits for both the owner and customer. No longer do customers have to ask employees for change, or do businesses have to worry about losing customers who do not come properly prepared with the right currency. This translates directly into increased revenue, as customers who can easily access your coin-operated services are more likely to use them repeatedly and for longer periods of time.
Businesses also benefit from an operational standpoint, as staff are no longer interrupted with requests to make change, no more need to have large quantities of coins in the register, there are no more concerns about running out of quarters during peak hours, and the machines ensure exact change without risk of human error.
Security also becomes less of an issue, as built-in bill validators and coin mechanisms reduce theft and counterfeit risks. Many modern machines will provide detailed transaction logging, which helps with cash reconciliation and efficient cash handling procedures.
Some businesses will add a small service fee per transaction, typically 5%, which can help generate additional revenue streams, especially in high-traffic locations.
Types of Coin Change Machines
Today’s coin machines for businesses come in several models, depending on how you want to accept payments and what kinds of coins or tokens you need to dispense.
1. Bill-to-Coin Machines:
The most popular and common machine accepts paper money and dispenses coins or tokens in return. Often found in arcades, laundromats, and well-populated vending machine areas. These machines typically exchange $1, $5, $10, and $20 bills for quarters or tokens.
2. Coin-to-Coin Machines
Typically used for specialized purposes, these machines convert larger coin denominations into smaller ones.
3. Card-to-Coin Machines
These units accept credit cards, debit cards, and sometimes even mobile payments, which is beneficial in today's growing cashless society. As they require additional processing fees, these machines will usually come with a service charge per transaction.
How to Choose the Best Coin Change Machine for Your Needs
Selecting the best coin change machine for your business depends on a number of key factors specific to your environment and customer patterns. Consider machines that provide the following features.
- Payment Compatibility - Are you looking for the standard bill-to-coin only, or do you also need/want to accept other options?
- Capacity - High-traffic locations, such as laundromats or arcades, require machines with larger coin hoppers and faster dispensing speeds to keep up with demand.
- Bill Validators - Look for machines with advanced validators that accept worn or wrinkled bills. Not everyone carries crisp, new paper bills. Cheaper validators will reject certain bill conditions, frustrating customers and impacting your business reputation and finances.
- Security - Machines with anti-vandalism construction, anti-stringing mechanisms, counterfeit bill detectors, secure locks, and an alarm system are ideal.
- Durability - Heavy-duty steel cabinets with tamper-resistant designs are essential in high-traffic areas.
- Maintenance - Machines in high-use environments need regular cleaning and occasional repairs. Some modern machines are equipped with technology that tracks coin status and provides repair zone messages.
There are two main designs of coin change machines to choose from. Consult with your local supplier and a business equipment guide, taking into consideration the available space and expected usage volume, to determine which option is right for you.
- Wall-mounted unit - Saves floor space and works well in smaller locations
- Floor Standing unit - Larger capacity and more sturdy construction for higher traffic environments
Common FAQs About Coin Change Machines
How does a coin change machine work?
After validating a payment (bill, coin, or card), a mechanism is triggered that releases the equivalent value in coins or tokens.
What are the main differences between coin change, coin counting, and a coin exchange machine?
Coin change machines swap equivalent change (in specific denominations) for bills or card payment. Coin counting machines tally loose change, while coin exchange machines are the reverse of a coin change machine, providing money for coins or tokens.
What are the benefits of using a coin change machine in a business setting?
Coin change machines improve efficiency, reduce labor needs, prevent errors, and enhance customer satisfaction in businesses that have high traffic, such as arcades, laundromats, and car washes.
What factors should I consider when buying a machine?
Location space, machine capacity, payment options, durability, and security are the main factors to consider when buying a machine.
What are some basic coin counting tips that I should know?
Regular cleaning, timely restocking, and routine mechanical inspections will help to maximize your machine’s performance and longevity.
Who are some of the best coin change machine manufacturers?
Finding a reliable and quality manufacturer is important. Brands such as Standard Change-Makers, Rowe International, and Hamilton Manufacturing are among the most popular in the business.
Whether you’re running an arcade, laundromat, or any other business that uses coin-operated equipment, investing in a quality coin change machine will not only provide for your customers but also positively impact your bottom line.
