# Big bag of coins



## krissovo

I have a big bag of coins, I mean its huge!  Its from day 1 of the euro and full of coins from €1 down to 1c.

My question is how do I cash these in?  I went to my bank and they gave me small money bags and rolls so I stated doing that and after a couple of nights I got to €300 without putting a dent in the pile of coins.  Is there anywhere in Cork I can pour them into a machine and get the notes back?


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## truthseeker

There are machines in Supervalus (and Spars I think), where you can pour the money in and it spits out a receipt which you receive cash at the till for - but they charge anywhere from 8% to 10% - which is not a lot to pay for convenience if its only 100 euro youre talking about but IMO starts seeming unreasonable when you go up to higher amounts.


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## sam h

> but they charge anywhere from 8% to 10%


 
Much cheaper to get a couple of kids around to help....I remember doing this for my parents as they rented houses and they all had meters....every few months, there was a table full of coins. I'm sure some kids would be thrilled to get a few euro to sort out your (nice) problem.


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## oldtimer

I think you are missing the point. Bagging the coin costs nothing but the bank will charge you for cashing them. When bagged try other institutions who may exchange the coin for free. Your local credit union is worth a try.


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## ClubMan

oldtimer said:


> I think you are missing the point. Bagging the coin costs nothing but the bank will charge you for cashing them.


Not necessarily. I have a current account with _PTSB _and they have never charged me for lodging bagged coins.


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## elcato

I'm not sure the banks will charge you if they're bagged correctly, I'm pretty sure they wouldn't if you had an account with them. Also, your local publican would gladly take the change off you even on a weekly basis. Easiest thing to do imho for counting them all up, is to separate all the coin first into each denomination and do one denomination a night. As stated earlier, get the local kids around to do the lower denominations. Be aware that the counting machines will need you to seperate the denominations anyway.


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## ClubMan

elcato said:


> Also, your local publican would gladly take the change off you even on a weekly basis.


In exchange for gargle presumably?


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## WhoAmI

This has been discussed before in other threads and it has been established that banks do not charge for personal customers lodging coins to their personal accounts, ie, when there is no business connection. It may help to go to the branch where you have an account, however.


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## Megan

Baged your coins and then use it to pay in any shop for goods. My local post office has a notice up that they will accept baged coins in payment for anything ie stamps , tv licence, dog licence etc.


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## Rois

I do the same with my change. Last time I got the bags from the bank and bagged the coins myself, different ones each night. Once they were bagged I had no problem using them in supermarkets and even my local Shell garage for petrol who took the bags without even checking them. I refuse the pay the 12.5% charged at my local coin depot machine. I had saved €475 in loose change - everything from 50c down in the space of 1 year!


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## nai

If Cork City - ask your local priest - alot of the larger parishes have coin sorting / bagging machines to manage the coins from the collections - maybe if you offer a donation they might let you use the machines.


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## truthseeker

I used to bag my own and then lodge them to my credit union account, however now they refuse to take coins (bagged or otherwise).


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## Celtwytch

How can they refuse to take coins??  Aren't they legal tender?


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## truthseeker

Celtwytch said:


> How can they refuse to take coins?? Aren't they legal tender?


 
I asked and was told (in a rather annoyed voice) that they have no way of getting rid of them? 
I dont know what else I can say to them, Im not trying to buy anything, Im only trying to lodge money.


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## rmelly

> How can they refuse to take coins?? Aren't they legal tender?


 
There are quantities above which institutions (and retailers I think) can refuse e.g. if you arrive in with €100 in 2 cent pieces. I think I've seen the amounts & combinations on AAM before?



truthseeker said:


> I asked and was told (in a rather annoyed voice) that they have no way of getting rid of them?
> I dont know what else I can say to them, Im not trying to buy anything, Im only trying to lodge money.


 
They probably don't issue much cash or if they do it probably doesn't require much change?


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## truthseeker

rmelly said:


> They probably don't issue much cash or if they do it probably doesn't require much change?


 
Yes probably right, but surely they lodge money themselves to a bigger institution and if so why not just lodge the coins?
Where do credit unions keep the actual physical money?


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## steph1

Much better to get a few people to help sort and bag the coins.  I would put the 2, 1, and 50c and the 20 and 10 cent coins into bags.  The smaller coins 1,2 and 5 cent I would just put them through the coin machine as the 1cent in particular are a pain to count they are so small.

Some Credit Unions do take coin but I brought coins in before and they were properly bagged and they would only take 20euro worth of coin.  It seems to be a bit of hassle for credit unions when they are lodging to the bank to have a lot of coin.

It costs 9.5% to put the coins through the machines that you see in the likes of supervalu.  

Another way to get rid of the coins is to use the express checkouts in tesco.


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## j26

Celtwytch said:


> How can they refuse to take coins??  Aren't they legal tender?



I think they brought in a limit of 50 (or was it 100) coins as legal tender, after people started paying their ESB bills in pennies in protest at something or other years ago.


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## krissovo

Some great ideas, the counting machines at 10% or so is a bit much as there is at least €500.

Looks like a counting money party tomorrow night, a few drinks and pizza with friends should get through the pile.


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## rmelly

I usually split change into 3 when I empty my pockets after getting home from work etc, as follows:

50c, €1 and €2
10c, 20c
others

I use the first 2 to pay for lunch or for papers, bread, milk, DVD rental etc then when I have a big bag of 1c, 2c, 5c bring it to Super Valu to convert.


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## steph1

krissovo said:


> Some great ideas, the counting machines at 10% or so is a bit much as there is at least €500.
> 
> Looks like a counting money party tomorrow night, a few drinks and pizza with friends should get through the pile.



That sounds like fun   Can I come??


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## rmelly

steph1 said:


> That sounds like fun  Can I come??


 
Be warned, it'll be like the cocaine factories you see on TV - no clothes allowed so you don't nick or 'secrete' any of the 'product'.


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## jimrohnfan

Local shops would proberly like to take it. Our local shopkeeper (small rural village) loves to see us coming with our bags of coins as it means she dosn't have to get change from the bank and get charged for it.


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## Bonaparte

National Irish Bank do not charge for lodging bagged coins to personal account, I collect coins in a bottle which when full holds up to €1,500. I did have a problemon one occasion with the attitude of a clerk in a branch who wouldn't check them while I was there and insisted that he would attend to them later. I expressed my annoyance through their web site and had an apologetic call from the manager within an hour. I think the offending clerk was told off.


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## within29

In this current climate I think all institutions should be trying to take in as much cash as they can right now, no matter what form.


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## Protocol

Bonaparte,

do you realise that the CB has warned peole against hoarding coins.

It seems the Irish have a habit of doing this, collecting in jars, etc.

See the press release below.


On Tuesday, I put 2*€2 coins into a parking ticket machine, then 2*€2 coins across the counter in PJs pub, Lower Salthill, Galway for a pint, then another 2*€2 coins for another creamy pint.


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## Protocol

*£30 Million Worth Of Coins Hoarded In Irish Households *


According to the results of a survey published by the Central Bank of Ireland today (Monday, 4 December), it is estimated that there is almost £30 million worth of coins hoarded by Irish households. The survey reveals for the first time the extent of coin hoarding by the Irish public and the Central Bank plans to draw on its findings to encourage people to use coins and small change when shopping this Christmas. 

Among the results of the survey, conducted on behalf of the Central Bank by MRBI: 

It is estimated that there is about 550 million coins hoarded in households throughout the country with a value of £27.9 million

The average coin hoard for all households is approximately £24 (respondents estimated they hoarded on average only £15)
50% of all households in the country indicate that they hoard loose change
Most respondents hoard 1p and 2p coins, although 1 in 10 say they hoard £1 coins
72% of households who hoard coin keep it in one place - the most popular method of storing hoarded coin is in glass bottles (29%) followed by jam jars (21%), piggy banks (13%) and plastic bottles (12%).
The Central Bank has issued more than 250 million additional coins in the past year, representing an annual increase of 16.5%. Despite this, the survey confirms that a large proportion of this quickly moves out of active circulation. 
A spokesman for the Central Bank said: “This is the busiest shopping period of the year when the largest amount of cash is needed in the economy. We would strongly encourage people to use their small change when spending in shops this Christmas or to think of giving it to charities. It will make life easier for everyone – the consumer will not be left carrying around large amounts of loose change and shops and banks will not run short of small coins.” 
With just under a year to go before the introduction of the euro, the spokesman added that now is a good time for people to consider putting their own hoarded coin back into circulation. “Almost £30 million is being hoarded in homes all over the country. Over the coming weeks we would encourage people to check how much they have in loose change in glass bottles and other containers at home. The survey shows that people estimate they have much less hoarded coin than is, in fact, the case. There is, on average, £24 worth of hoarded coin in every household in the country. It is well worth taking the time to count and bag this money and take it to your local bank. The Christmas holiday period is an ideal time for people to do this.” 
Retailers and banks are supporting the Central Bank’s campaign to encourage the greater use of small change when shopping and the dislodging of hoarded coins from households. Banks will not charge their personal customers for lodging properly sacheted coinage and supermarkets and other retailers have told the Central Bank that they would welcome their customers giving the correct change when shopping. Further information:
Neil Whoriskey, Press Office: (01) 671 6666; (087) 221 9199.


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## Celtwytch

Re: *£30 Million Worth Of Coins Hoarded In Irish Households *


How old IS this press release? The values are all in £, for heaven's sake!


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## ClubMan

[broken link removed]?


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## Celtwytch

Thanks, Clubman.

Not exactly the latest news, is it, Protocol?


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## Leo

Protocol said:


> do you realise that the CB has warned peole against hoarding coins.


 
Not exactly a warning either!

And I couldn't think of a worse time for people to be spending all their hoarded up coins than at Christmas?


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## Protocol

*It's made round to go round!!!!*

Keep those coins in circulation - don't hide them away.


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## Megan

[broken link removed]

Why are the banks charging us for changing coins as they should be glad to get them seeing that they are importing coins from Finland.


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## rmelly

Megan said:


> [broken link removed]
> 
> Why are the banks charging us for changing coins as they should be glad to get them seeing that they are importing coins from Finland.


 
It's the Central Bank importing the coins, not the 'high street' banks.


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## macshean

Hi all,

I've got a large bag of sterling coin, is there any coin machines in any of the  shops in the north of ireland?


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## csirl

Hate the 1c and 2c coins - should be withdrawn from use as too small for daily usage.


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## Howitzer

Am I the only person in the world who doesn't hoard coins? Nearly every large supermarket has self service checkouts which gladly accept squigglies.


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## The_Banker

I want to know how much the OP had hoarded????


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## DavyJones

The_Banker said:


> I want to know how much the OP had hoarded????




ah the good ould days when we had a couple of grand in coins lying around the place, oh the times they are a changin'.


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## fizzelina

I agree not to use those machines in supermarket etc since 10% is a bit much to charge. My boyfriend and I save all our loose change, recently we counted last years and it came to over €1,000. Halifax always give us the coin bags and happily take them to lodge into our account. For the smaller 1 and 2 cent we just separate them and the bank can weigh them and know how much is there.


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## mcaul

Best option on coins is to sepate the €2, €1, 50c, 20c bag them your self and lodge them to a bank then use the supermarket machines for the smaller coins.


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## JoeB

krissovo said:


> ... and after a couple of nights I got to *€300 without putting a dent* in the pile of coins.  ...






krissovo said:


> ... as there is at least €500. ...




so how much was it?... 300 is hardly a dent, yet 500 in total seems reasonable?

I wonder how many 'sachets' he used, when it was all correctly 'sachetted'.. lol, did you see that Central Bank thing...  sachetted..


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## fizzelina

On Tuesday, I put 2*€2 coins into a parking ticket machine, then 2*€2 coins across the counter in PJs pub, Lower Salthill, Galway for a pint, then another 2*€2 coins for another creamy pint.[/QUOTE]

Parking the car and then going for pints?? I hope you didn't go back when the €4 was up on the meter and drive home.


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## khairabar

how could anyone accumulate this amount of coins!

Why not simply develop the habit of getting rid of all possible coins on every occasion you buy something?  (eg) something is €13.71 - if you can give 3.71 in coins as well as your €20 note, you'll get a €10 note in change (instead of €6.29 in change) AND get rid of at least 7 or 8 coins as well. That reduces your total coins by about 20.  Even if you can only get rid of the 1cent - that still saves you 9cents in coins in change.  If you do this routinely, the maximum no. of coins it is ever possible to accumulate is about a dozen.


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## dmos87

I do it as a form of saving. 

I use notes when paying, and when I return home every day I empty my pockets of all coins - putting them into a very large tin that can only be opened using a can opener. I never empty the tin until it is crammed full. Some days I throw notes in too.


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## D8Lady

dmos87 said:


> I do it as a form of saving.
> 
> I use notes when paying, and when I return home every day I empty my pockets of all coins - putting them into a very large tin that can only be opened using a can opener. I never empty the tin until it is crammed full. Some days I throw notes in too.



I have a 3 Litre vodka bottle for anything less than 50c. Its my January Jar,  used for the post-xmas bills. Have a €2 piggy bank that's handy for taxi money if I'm stuck. 
My sister has her curry money coffee jar. Its her occasional Friday night treat.


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## fizzelina

D8Lady said:


> I have a 3 Litre vodka bottle for anything less than 50c. Its my January Jar, used for the post-xmas bills. Have a €2 piggy bank that's handy for taxi money if I'm stuck.
> My sister has her curry money coffee jar. Its her occasional Friday night treat.


 
My boyfriend and I do it as a form of saving as well. Once a year we take all the coins out of the Jameson 4l bottle we save in and count it and use it towards our holiday, last year it was about €1,000. We save the €2 as well in another jar (they don't fit in the Jameson bottle!) and I find them handy if I'm stuck for money also.


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## kbie

Every night I save all the copper coins, also 10, 20, 50, 1 and 2 euro coins which do not have the harp on them. I am doing this for over a year now so I might soon cash them in and see what good purpose I can put them to.


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## shoppergal

dmos87 said:


> I do it as a form of saving.
> 
> I use notes when paying, and when I return home every day I empty my pockets of all coins - putting them into a very large tin that can only be opened using a can opener. I never empty the tin until it is crammed full. Some days I throw notes in too.



I never get this. Surely if you empty all your change from your wallet every night you need to use a new note every time you're paying for something and therefore you have to have more notes to begin with.


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## gipimann

khairabar said:


> how could anyone accumulate this amount of coins!
> 
> Why not simply develop the habit of getting rid of all possible coins on every occasion you buy something? (eg) something is €13.71 - if you can give 3.71 in coins as well as your €20 note, you'll get a €10 note in change (instead of €6.29 in change) AND get rid of at least 7 or 8 coins as well. That reduces your total coins by about 20. Even if you can only get rid of the 1cent - that still saves you 9cents in coins in change. If you do this routinely, the maximum no. of coins it is ever possible to accumulate is about a dozen.


 
I try to do this, but have found in recent years that some shop assistants (and some customers) are too impatient to allow time to count out the small change.  Which is probably why we end up with lots of coins, and the shops cry out for same!


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## hfp

it absolutely mystifies me that people could save as much as €1000 or more and just leave the money lying round the house.  i know the banks aren't exactly making themselves popular these days, but come on, they pay you money to deposit your savings with them!!!  instead of throwing your change into a jam jar every now and again and then having to take out more money from the bank, only take out the money you actually need and set up a standing order into a savings account.  seems like a no brainer to me...


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## dmos87

shoppergal said:


> I never get this. Surely if you empty all your change from your wallet every night you need to use a new note every time you're paying for something and therefore you have to have more notes to begin with.


 

Exactly  New note broken = more coin change.  More Coins = more in money tin. More in Money tin = secret mystery savings 

I'm such a saddo, 23 and excited at the prospect of "mystery savings"!!!


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## VOR

I don't know if it is still there as it is 7 years since I lived in  Ballsbridge but there used to be a coin machine in AIB's HQ. It was in reception. You just entered your current account details and then started pouring the coin. The money would then lodge directly to your account without any fee.


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## garryS

tesco in youghal has a coin machine.. 10% to use though


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## Cooper7

The machines in Tesco are 9.9% to use if you want to get the coins in cash but no charge if you redeem the coins against your shopping in Tesco.


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## D8Lady

hfp said:


> it absolutely mystifies me that people could save as much as €1000 or more and just leave the money lying round the house.  i know the banks aren't exactly making themselves popular these days, but come on, they pay you money to deposit your savings with them!!! ..



Banks want the €1,000, just not 10c at a time


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## Ardiff

Apropos of this from the SBP
[broken link removed]



It could be the ultimate measure of how bad things got in the recession - the state has lost money by making money.

The Central Bank was forced to withdraw almost €23 million worth of coins from circulation last year, resulting in a €30 million hit to the exchequer.

The withdrawal was as a result of a sharp fall in demand for coins because of the recession.

The economic slump also resulted in more people raiding their coin jars, further reducing the need for newly-issued coins. ‘‘This [withdrawal] was largely due to a fall-off in demand for smaller denomination coin and may reflect a reduction in hoarding of such coins as economic activity weakened," according to the Central Bank.

Cash businesses, such as shops and pubs, needed lower stocks of coins as the recession resulted in fewer transactions, while the banks opted to return their surplus coins to the Central Bank instead of incurring substantial storage costs.

This resulted in the Central Bank seeking a reimbursement of €30million in profit that had been given to the exchequer in 2008 from the issue of new coins.

The bank earns a profit on the difference between the face value of a coin and the cost of producing it, and any profits arising from the issuing of coins are transferred to the exchequer.

The volume of coins issued has fallen from a high of 446 million coins in 2007 to 284 million in 2008 and 112million last year.


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## celestial

I counted 689euro in all coins took just two evenings after work . My boyfriend saved it over a couple of years in a big plastic carlsberg bottle. Will count all your change for 50eur if u want ha. 
Anyway got bags from ulster bank . no problem them taking em no charge once you have account with ulster bank.

And now we are spending the money to go on holiday .

Cannot wait,.
Gud luk with your count


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## celestial

the facts about coin circulation v. interesting post


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## bigjoe_dub

i purl all coins into a sma baby food tin.  manage to fill it twice a year.  usually get between 600-800 euro.  great way to save.   anyway I usually get my 8yo son to help sort.  he loves doing it.  i sort all the 2,1,50c,20, 10,5 coins into bags.  the 2 and 1c and any other coins that cannot make a full bag i tip into the tesco machine.  do not mind paying commision on what i call the dust.  never had an issue with BOI lodging it into by personal a/c.


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## The_Banker

I have been saving coins now for about 4 years. I have 6 giant plastic Coke a Cola bottles. I reckon each bottle could hold 20 litres if full. To give you an idea of size, each bottle almost comes up to my hip. 

Bottle 1:            I put all 1 cent, 2 cent and 5 cent coins in. It is three quarters full.
Bottle 2:            I put all 10 cent coins in. It is half full
Bottle 3:            I put all 20 cent coins in. It is just over half full.
Bottle 4:            I put all 50 cent coins in. It is one third full.
Bottle 5:            I put all €1 coins in. It is just under half full.
Bottle 6:            I put all €2 coins in. It is roughly one third full.

I am not sure what I will do now, keep going and force the government to mint new coins or call into a bank and see the horror on the tellers face.


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## WindUp

!!!! do you use notes for everything you buy?


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