I know there is much written about low fees and costs on all the personal finance blogs, but you always have to remember that the other side of the equation is value. Sometimes a high relative fee can be stomached, and quite easily at that. Case in point: I had about three big jars of loose change that had accumulated on my dresser. This was an eyesore to Fiona so she suggested that we take it down to the local grocery story which has one of those coin counters that you can just dump the coins into and it will sort and count all your change. It then provides a receipt which you take to a cashier who will give you cash for it.
I was reading the fine print on the machine as Fiona started emptying the coins and at first I was taken aback by the line that indicated that the counting and sorting fee was 9.8 cents for every dollar. That is a 9.8% fee. I had figured there was maybe $30 to $40 in change that we had brought so in my mind $3 or $4 didn’t sound so bad after all. But half way through the second jar we were already at $60. In the end the total amount sorted was roughly $120, and after the fee was about $110. (It was also kind enough to return some Euros and Rupees and TTC tokens that had made their way into the jars!)
So, in the end, what would’ve taken me a good chunk of a day (call it four hours), was accomplished by this machine in about 5 minutes for $10. My time is worth much more to me than $2.50/hour so I’m quite happy with the results, despite the 9.8% fee.