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