Saturday, November 22, 2008

Coinstar - A Good Idea

Coinstar may have the best business model ever. You give them $100, they give you $91 and change back. In case you haven't seen one, they have coin counting machines in grocery stores where you can dump your uncounted, unrolled coins, collect a voucher, and get real cash less the 8.9% vig.

This holiday season they are running a brilliant promotion that works for consumers and retailers. From now through December 7 if you change $40 in coins and accept a gift card rather than cash, they will charge no counting fee and ship you a bonus $10 gift card. Participating retailers include Starbucks, iTunes, Lowes and

Instead of getting $36.44 for your coins, you get gift cards totaling $50, or 37% more. Win win.

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