How Much Does a Money Counting Machine Cost?

Businesses that deal with a lot of cash daily need a cash counter to do the job efficiently. A money counting machine makes your cash opening, counting, and closing procedures quick, saving your staff time that can be spent on other productive activities. There are many different brands and models of money counters out there, making it difficult for many people to choose one that meets their business needs. Many people ground their decision solely on the price of the machine. While cost consideration is important, there are more vital things you’ve got to consider when buying a cash machine.

Factors to Consider When Buying a Counting Machine

Bill counters can cost as low as $94 and as high as $3000. But why such huge cost differences when the job of all machines is the same: counting bills? Well, not all cash machines are made equal. Many factors determine the price difference, such as features, technologies, unit type, and the factors listed below:

• Size and weight. Currency counters are available in different sizes and weights. If you have a small office space, choose a compact money counting machine. It is a good idea to buy a portable currency counter if you have to move around your bill counter to different places continuously. And large businesses like banks can use more sophisticated, large, and heavy counters.
• Counting speed. While most cash counters generally come equipped with multiple counting speed options, you should still double-check the maximum speed offered by a model. Buy a unit with high counting speed if you deal with a large amount of cash daily.
• Hopper capacity. Hopper capacity determines the gauging volume of a cash machine. Most bill counters can accommodate 300 bills in its hopper at a time, but other sophisticated mixed money counter models like the Carnation money counting machine CR1500 can hold up to 500 bills at a time.

Other essential factors to consider when buying a cash counter include features like mixed bill value detection and counterfeit detection technologies. While you can choose a machine without a mixed denomination identification feature, you must not compromise on counterfeit detection technology.

Types of Money Counting Machines

As you can see, money counters differ by counting speed, hopper capacity, size, weight, and features like counterfeit detection and mixed bill detection. Basic bill counters provide a total count of the notes placed in the hopper, whereas advanced models can detect bills of different denominations to give a total value. The more sophisticated cash machines can detect counterfeit bills using technologies like blacklight (UV) and magnetic sensors.

Banknote counters also differ based on the design for loading and counting bills into the unit. The two main designs include back-loading style and top-loading style. As the name suggests, the back-load design requires you to feed bills into the hopper from the back of the machine. In the case of the top-loading design, you have to feed cash into the hopper from the front of the unit.

Top Counting Machine Manufacturers

The top currency counter manufacturers in the US include:

• Carnation. Carnation Enterprises manufactures a wide range of currency counters, with different designs, counting speeds, features, hopper capacities, and technologies.
• G-Star. G-Star is yet another name synonymous with high-quality, sophisticated money counters. Most of its models are equipped with ultraviolet and magnetic sensors for counterfeit detection.

Other leading money counter brands include Kolibri and Domens; these companies produce simple and affordable cash counters.

The Bottom Line

Cost should not be your sole consideration when buying a currency counter. Take into account more factors like the volume of cash you handle, your business needs and risks, and the features, counting speed, hopper capacity, and technologies of a money counter before buying one.

Photo Credit: Carnation Inc.