I switched to $ 1
coin when they first came out, works for my wash and never have had resupply issues.
My first break-in attempt gave me religion.
I sought out a
token vendor and had the great fortune of speaking with
Virgil Vance from
Van Brook Tokens a few years back.
He enlightened me to the existence of high security
tokens that use a unique metal signature and sent me some samples for my IDX accepters
They worked flawlessly and we did the switch.
Lessons learned:
* we stopped supplying the local poker games, collectors, etc. with $1
coins. (it was the laundry mat when we dispensed quarters)
* greatly reduced our trips to the
changer and the bank, which reduced our risk exposure as well.
* we didn't have XX dollars <-- (I'm not filling this in for the bad guys) hanging on the wall 24/7 as a target.
* I now have access to that cash that used to hang on the wall, meaning I can now spend it.
* gained the ability to control how much cash is in the bill
changer because it's not a 1 for 1 exchange. If an operator has twenty $1 dollar
coins in the
changer, there will be twenty dollar bills when it's sold out, the value/risk never changes. With
tokens you can increase or decrease your collection times to control the amount of cash you're willing to risk in the
changer.
* you can put your car wash's name on the
token ensuring a return visit because it can only be spent with you (an advertisement).
* you can run specials during slower times of the year, or if larger bills are desired. Ex. 11
tokens for a $10 bill or 23
tokens for a $20 bill
* People lose them. When you sell a
token, that's the
transaction. We buy 10K
tokens every year due to attrition. When you pay .40 cents for each
token and they sell for a dollar, that's easy math.
* I don't know why, but people just don't get as upset when they lose a
token in a malfunction, but get pissed when a dollar
coin is visibly jammed and just out of reach. That's when the picking and prying starts with the customers and transients. I can't tell you how many transients we had that came by our location on a regular basis, in the hopes we had a jam, or would shove a foreign object in to cause a jam. Then they would start their destruction just to get at a few gold dollar
coins. Not so with the
tokens.
* At one of our locations we went
tokens only at all of the equipment because of (costly) attempts to get at the cash. Changing over has greatly reduced the damages we suffer. A few thieves apparently can't read and still try, go figure...
I honestly can't think of a reason to hang cash on the wall as change that outweighs these benefits, but I'd be willing to listen..