Selling Quarters

People are pretty up in arms about Washboard. They sell you a $10 roll of quarters for $15.

Thoughts:

  • It does feel weird to sell money for a markup.
  • Isn’t that what ATMs do, because it’s convenient?
  • Surely the pricing is based on: (price of quarters) + (shipping) + (markup the market bears). I’m sure it costs a few bucks to send a roll of quarters, so they make a few bucks per shipment, which sounds reasonable. If they get some customers, it’s a nice little buisness (I doubt it will ever be huge). If they don’t, oh well, I’m sure the investment here wasn’t huge.
  • I don’t think there is any moral concerns here. They aren’t extorting anyone. Fee too much? Don’t sign up.
  • Just because there is a change machine in your laundromat doesn’t mean there is a (reliable) one in everyone else’s. Think laundry rooms in apartment buildings.
  • At least it’s an obvious and straightforward business model. Can we go back to being mad at millions being thrown at companies with loose ideas and no buisness model?

One response to “Selling Quarters”

  1. Ronald Roe says:

    As long as there are things, people will bitch about them.

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