How To Take Advantage Of The Coin Shortage

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A couple of my readers recently asked for suggestions to raise money for holiday activities at the nursing home. Back in 2019, I shared several ideas for Christmas fundraisers. I hope you’ll check them out. However, I realize some of them might not be doable this year because of the pandemic.

The good news is there’s a fundraiser that has become even more successful because of COVID-19. It’s the coin fundraiser.

You’ve probably heard about a coin shortage in our country over the past year. I know I’ve seen signs at a couple of fast-food restaurants asking customers to pay with debit or credit cards instead of cash. That’s because they don’t have enough coins to make change.

But now we need to answer an important question. Is there really a coin shortage? Well, not exactly.

It’s more of a coin circulation problem that results from people stashing coins at home instead of spending them in the community. Here’s why this happens:

• More people are shopping online instead of spending cash at local businesses.
• There are fears we can catch the COVID virus by handling contaminated coins.
• Businesses that deal with lots of coins like arcades, laundromats, and vending machines have had less traffic.

According to a 2020 survey by Coinstar, the average American has $113 in loose change stashed in and around their home. Wouldn’t it be great to take some of that money off their hands and use it to benefit your residents?

Here’s how you can host a successful coin fundraiser at your nursing home:

Before Your Event

1. Find a bank willing to run a large amount of coins through their coin counting machine. You might even locate a bank that’s willing to make a donation in return for your coins. For example, I’ve heard of banks that donate an extra $5 in cash to an organization for every $100 worth of coins turned in.
2. Be sure everyone who enters the building knows about your fundraiser: staff, volunteers, family members, medical professionals, and vendors.
3. Depending on the COVID status in your community, consider advertising your event to the public. Encourage them to collect coins from their homes and vehicles and drop them off at your nursing home.
4. Let people know the specific purpose of your fundraiser. People will donate more money if they know exactly how their donations will benefit your residents.

Options For Your Fundraiser

There are several ways to collect coins as a holiday fundraiser. These are a few of my favorites:

1. Consider borrowing a spiral wishing well to collect the coins. People enjoy watching their coins spin around on their way to the base. Some nonprofits use these at annual fundraisers and store them away the rest of the year. Advertise on social media to find one.
2. Encourage various departments to compete to see who can collect the most coins. Since the sizes of departments vary in a nursing home, groups can join forces. For example, rehab staff might team up with housekeeping and activities. Provide a simple treat for the winning group. (Donated by a local business, of course!)
3. Add an extra layer of competition by hosting a penny war. While most often done in schools, the fundraiser also works well in nursing homes.
4. Set up empty coffee cans labeled with the names of managers at your nursing home. Ask each manager to come up with something silly they’ll do if their coffee can collects the most money. For example, they might shave their head, wear a superhero costume at work all day, or take a pie in the face at the next staff meeting.
5. Set a goal for the amount of money you need for a specific project. Hang a paper thermometer on the wall and fill in the amount as it’s collected. Of course, this means someone will need to run to the bank more often instead of just at the end of the collection.
6. When you finish collecting coins, let people pay $1 to guess the final amount of money raised. Offer a fun prize for the closest guess. (Again, you’ll want a prize donated by a local business.)

Tips For A Successful Event

1. Prime your collection containers with several coins each time you empty them. People are more apt to donate if they see money is already in the container.
2. Recent studies suggest a low risk of catching COVID from touching coins. However, as a precaution, I suggest you provide hand sanitizer at each coin collection container.
3. I’m sad to say this, but be sure to keep your collection container in a safe location. One year, we had money stolen from a jar when collecting money for Operation Christmas Child.
4. After your event, be sure to let everyone involved know how much money you raised and thank them for their donations.
5. If appropriate, post photos of how you spent the funds. For example, if you used the donations to buy gifts for your residents, share pictures of them opening the gifts at your Christmas party.

How do you raise money for special projects at your nursing home? I would love to share your suggestions in a future article!