Author Topic: Coin Shortages??  (Read 1165 times)

clean

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Coin Shortages??
« on: July 11, 2020, 12:46:35 PM »
I saw one today, and my fiance said she saw one yesterday about the 'nationwide coin shortage!'.  I dont get out much, and that could be why the nation has a shortage!

I have coin tubes that I separate my change in regularly.  When they are full enough to wrap, I wrap them and use on a future visit.
I know that I have no less than $40 in rolled coins sitting on the table next to my chair (where I left them after the last 'rollathon'). 

IF someone were PAYING me to deliver to them my treasure, then by all means, I would help solve the problem. AS it is now, I m going to WAIT and see if it gets bad enough for someone to be willing to pay $11 for a roll of quarters ($10 worth, if you dont know your rolls).

So I think that things just got worse!  Im not going to GIVE them away (spend them) When they MIGHT be worth MORE tomorrow!!

What about you?  How much coin of the realm are you sitting on at your house? What would it take to get them to a CoinStar machine, or to Walmart or otherwise just spend it?
"The Emperor is not as forgiving as I am"  Darth Vader

polly_mer

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Re: Coin Shortages??
« Reply #1 on: July 11, 2020, 01:08:00 PM »
Do whatever you want--I'm just the background dancer in your show!

Parasaurolophus

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Re: Coin Shortages??
« Reply #2 on: July 11, 2020, 01:19:52 PM »
Yeah, nobody here can actually use cash at the moment. Which is just like taking it all out of circulation.
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hmaria1609

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Re: Coin Shortages??
« Reply #3 on: July 11, 2020, 01:45:41 PM »
I saw a sign about a coin shortage at a gas station in my town earlier this week. Wow! I pay cash for smaller purchases and credit card for bigger ones.

I remember CoinStar machines as a kid in the '90s; now they're back again.


marshwiggle

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Re: Coin Shortages??
« Reply #4 on: July 11, 2020, 01:55:27 PM »
Yeah, nobody here can actually use cash at the moment. Which is just like taking it all out of circulation.

Exactly. So other than  vending machines, what are they actually needed for right now? I'm curious.
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Parasaurolophus

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Re: Coin Shortages??
« Reply #5 on: July 11, 2020, 02:10:26 PM »

Exactly. So other than  vending machines, what are they actually needed for right now? I'm curious.

Here on the west coast, vending machines all take credit and debit now. At least, all the ones I've seen do.
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dismalist

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Re: Coin Shortages??
« Reply #6 on: July 11, 2020, 02:27:24 PM »
I saw a sign about a coin shortage at a gas station in my town earlier this week. Wow! I pay cash for smaller purchases and credit card for bigger ones.

I remember CoinStar machines as a kid in the '90s; now they're back again.

Yeah, nobody here can actually use cash at the moment. Which is just like taking it all out of circulation.

Exactly. So other than  vending machines, what are they actually needed for right now? I'm curious.


The CoinStar popularity shows that it's retailers who want the coins, not the consumers, at least in some of the more moronically small denominations. One reason is the 0.99 bs, which exists to force cashiers to register a sale, instead of pocketing a nice round value, leaving the customer none the wiser. [No, it's not psychology. :-)] This could be easily eliminated because bar codes make tracking inventory easy and cheap.

Gummint could just stop printing these metal mini-monstrosities, some of which cost more to produce than they are nominally worth, but there's also a metals lobby to contend with.

Ah, but for the Silver Dollar!

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spork

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Re: Coin Shortages??
« Reply #7 on: July 11, 2020, 02:35:11 PM »
One of the local banks where I have an account REFUSES to take coins unless they are rolled. So it's in part their own damn fault.

clean

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Re: Coin Shortages??
« Reply #8 on: July 11, 2020, 03:30:18 PM »
When I was in high school (maybe Jr. High), for some reason there was a penny shortage.  My parents had a bunch of pennies as with 2 teenagers, the silver stuff never accumulated high enough to roll!  But the shortage was enough that some banks were paying $1.20 for 100 pennies.  I know remember that my mom came home with a bunch of rolls and put us to counting! 

I guess that I am now hoarding my nickles, dimes and quarters for a bonus!  The pennies, I still dont count, but my mason jar still has another 1/4 way to go before full!  I wont say that I wont count the pennies, because I have probably $3 in rolled pennies, but Im not in a rush to roll more! 


OH!  here is the most annoying issue i had when I tried to use a roll of coins!  On a few occasions the clerk would want to open the rolls and count everything!  But once, I gave a $10 roll of quarters to pay for a McDonalds meal purchase and the clerk opened the roll (which annoyed me) and then counted out the amount she needed and then handed me the rest back!!!  Incredulous, I asked IF I Had given you a $10 bill would you have ripped off the extra portion and handed it back?

OH, and ONE other time I was using either the Susan B Anthony coin or a $2 bill and the counter person would not take it!!  I had to ask for a manager!!  (who did accept the money!)

But I guess, from the sounds of things, that I may be in the minority when it comes to actually carrying and using cash and coin for transactions!  (maybe I m one step above the 'underground economy'?  How much longer will I be able to transact with money????  I SUPPOSE that when the area is hit by the next Hurricane!  I ll be one of the few able to get ice and gas from the store when the lines are down?  (I suppose that the rest will be transacting business with bullets and water bottles! - the secondary or tertiary currencies))
"The Emperor is not as forgiving as I am"  Darth Vader

downer

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Re: Coin Shortages??
« Reply #9 on: July 11, 2020, 03:40:37 PM »
I know some people don't use notes and coins, with contagion concerns. But I use them (exclusively), and so apparently do plenty of other people. The cash economy lives.
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secundem_artem

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Re: Coin Shortages??
« Reply #10 on: July 11, 2020, 03:45:22 PM »
What are coins?

I took $200 out of the bank for a planned trip over spring break - which was obviously cancelled.  I still have $51 of it left in my wallet nearly 4 months later.  Nearly everything goes on a debit card.
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saffie

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Re: Coin Shortages??
« Reply #11 on: July 11, 2020, 03:49:36 PM »

OH!  here is the most annoying issue i had when I tried to use a roll of coins!  On a few occasions the clerk would want to open the rolls and count everything! 

I worked for a while as a bank teller while in school. I learned to open and check rolls of coins to see that there actually were coins there and not slugs -- also got caught by someone trading in a roll of dimes that really only contained dimes at the ends, but all pennies in the middle.

clean

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Re: Coin Shortages??
« Reply #12 on: July 11, 2020, 04:01:12 PM »
I understand the need to confirm the authenticity, but to count them?  How many people can say, "I made MY millions by turning in only $4.90 in every roll of dimes?"
"The Emperor is not as forgiving as I am"  Darth Vader

evil_physics_witchcraft

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Re: Coin Shortages??
« Reply #13 on: July 11, 2020, 05:05:19 PM »
The last time I used any paper money or coinage was in March at the farmer's market. I have only used credit since. We also have a metric butt ton of coins in Mason jars if we ever need to use them.

Anselm

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Re: Coin Shortages??
« Reply #14 on: July 11, 2020, 07:05:28 PM »
Every bank I ever used for an account had a machine to count coins. 

The recent shortage confuses me.  I would expect that the broke unemployed people to scrounge up every last penny out of the couch cushions.  Businesses could end this overnight by paying us a premium for coins but for some reason modern American business culture does not allow management to be creative.    I did see some signs at the local grocery store about a shortage.  They were only taking cards at the self checkout line.

The penny should have been eliminated long ago.  I also want to see dollar bills replaced with dollar coins.   Other nations seem to do fine with coins equal to their standard unit of money.

I save my change in my car and at home.  That way I always have money in an emergency.  I take the coins in once I am at about $100 in value. 
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