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Is there a new "coin shortage"?

rec78rec78 Posts: 5,675 ✭✭✭✭✭
edited May 7, 2021 12:09AM in U.S. Coin Forum

Rob of Robfinds Treasure says there is. I went to a new bank today and asked if I could order coins, The teller said "Yes, but there is a freeze right now, try again in a week or two". A "freeze"?? I also heard somewhere else that it is not a coin shortage, but a distribution problem. Does any one know what is really going on?

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Comments

  • WQuarterFreddieWQuarterFreddie Posts: 2,548 ✭✭✭✭✭

    Not sure. My one bank says there is another coin shortage but I can still get boxes

  • blitzdudeblitzdude Posts: 5,361 ✭✭✭✭✭

    No shortages in The Commonwealth. We have coins all over the place. Thanks!

    The whole worlds off its rocker, buy Gold™.

  • OldhoopsterOldhoopster Posts: 2,930 ✭✭✭✭✭

    Did Rob at Rob finds treasure give a reason? Did he compare 2020 mintages to other recent mintages? Or is he just guessing because his local bank shut off his CRHing (Which could be due to shortages, distribution issues, costs of acquiring rolls, or just getting tired of people dumping searched coins)?

    Member of the ANA since 1982
  • BillJonesBillJones Posts: 33,427 ✭✭✭✭✭

    I got change back from a dollar the other day after I used a bunch of gift cards at Barnes and Noble. That was the second time I have received change since March 2020. One time I bought a birthday card that cost a buck at the Dollar Store. I needed 8 cents to pay the sales tax. The clerk told me to forget it.

    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
  • rec78rec78 Posts: 5,675 ✭✭✭✭✭

    @Oldhoopster said:
    Did Rob at Rob finds treasure give a reason? Did he compare 2020 mintages to other recent mintages? Or is he just guessing because his local bank shut off his CRHing (Which could be due to shortages, distribution issues, costs of acquiring rolls, or just getting tired of people dumping searched coins)?

    No, he did not. It is in his last streamed video.

    @blitzdude said:
    No shortages in The Commonwealth. We have coins all over the place. Thanks!

    What commonwealth? There are four states called commonwealth's. I am in the commonwealth of Pa.

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  • hyf88hyf88 Posts: 294 ✭✭✭

    Got a message from Bank of America the other day saying the Federal Reserve says there is a shortage of dimes and quarters currently and that large orders can’t be taken at the current time.
    Guess folks are still not cashing in their change jars.

  • DBSTrader2DBSTrader2 Posts: 3,444 ✭✭✭✭

    I just got 5 rolls of quarters last week from my usual bank without their blinking an eye, and 5 more today from another bank. Maybe it's just because my requests are relatively smaller, but no shortages I can see on my end here...........

  • ThreeCentSilverFLThreeCentSilverFL Posts: 1,657 ✭✭✭✭✭

    This is the second thing I’ve heard via posts here about this Rob finds treasures guy in two days. Never heard anything about him before that. Does he post here? :*

  • rec78rec78 Posts: 5,675 ✭✭✭✭✭

    @ThreeCentSilverFL said:
    This is the second thing I’ve heard via posts here about this Rob finds treasures guy in two days. Never heard anything about him before that. Does he post here? :*

    I don't know, but he should. All the videos and searching that he does might take up too much of his time. He makes excellent coin videos

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  • WQuarterFreddieWQuarterFreddie Posts: 2,548 ✭✭✭✭✭

    My bank told me they were notified yesterday. They are very limited on coinage so no more boxes for me until further notice😪 and I was only getting 2 boxes per week

  • joeykoinsjoeykoins Posts: 14,787 ✭✭✭✭✭
    edited May 7, 2021 3:29PM

    Does he post here? :*

    I always wondered the same thing?
    I like his YouTube channel. Entertaining and coin educational. :)
    On the so-called shortage. Literally, 1 hour ago, one of the banks I visit. Just called me to let me know, a box of Quarters are waiting for me with my name on it. Lol
    Coin Shortage? :*

    "Jesus died for you and for me, Thank you,Jesus"!!!

    --- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.
  • KurisuKurisu Posts: 1,832 ✭✭✭✭✭

    Credit Union of Denver says there is....the day before yesterday they claimed there is.
    Not a Problem at Chase though.

    Coins are Neato!

    "If it's a penny for your thoughts and you put in your two cents worth, then someone...somewhere...is making a penny." - Steven Wright

  • rec78rec78 Posts: 5,675 ✭✭✭✭✭

    I cannot find any info on the internet or the federal reserve website at this time.

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  • rec78rec78 Posts: 5,675 ✭✭✭✭✭
    edited May 7, 2021 9:02PM

    Ok, I did find this:
    https://frbservices.org/news/communications/042821-cash-2021-strategic-allocation-federal-reserve-coin-inventories.html?utm_source=home-042821&utm_medium=banner&utm_campaign=fedcash&utm_content=3-coin-allocation
    It states only dimes and quarters are to be allocated. Banks however, somehow interpret this as all denominations. I have an order in for half dollars for next week. Let's see if I get them.

    image
  • johnny9434johnny9434 Posts: 27,409 ✭✭✭✭✭

    not as much here anymore and should be able to to hook you up

  • WQuarterFreddieWQuarterFreddie Posts: 2,548 ✭✭✭✭✭

    @jesbroken said:
    Yes, there is a shortage. Joey has all of them.
    JIm

    Way to go Joey! You ruined it for everyone else!😂🤣

  • joeykoinsjoeykoins Posts: 14,787 ✭✭✭✭✭

    @WQuarterFreddie said:

    @jesbroken said:
    Yes, there is a shortage. Joey has all of them.
    JIm

    Way to go Joey! You ruined it for everyone else!😂🤣

    Lol. I promise to give them back after I look at them! :D

    "Jesus died for you and for me, Thank you,Jesus"!!!

    --- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.
  • ColoradoCoinGuyColoradoCoinGuy Posts: 172 ✭✭✭

    I work for a Bank, and we were informed this week that orders for Boxes of Coin may not be able to be filled. So it looks like we are back to a "shortage" for a while.

    Member of LSCC, EAC, Fly-In Club, BCCS
    Life member of ANA
  • MsMorrisineMsMorrisine Posts: 32,123 ✭✭✭✭✭

    @joeykoins said:

    Lol. I promise to give them back after I look at them! :D

    just put them back into unsearched rolls

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • USSID17USSID17 Posts: 1,264 ✭✭✭✭✭

    @WQuarterFreddie said:

    @jesbroken said:
    Yes, there is a shortage. Joey has all of them.
    JIm

    Way to go Joey! You ruined it for everyone else!😂🤣

    Take a break Joey, give us a chance! :D

    @ColoradoCoinGuy said:
    I work for a Bank.

    If I worked in a bank, I'd get fired within a week..... WHERE'S TOM???.........he's in the vault looking at coins!!!

  • JBKJBK Posts: 14,637 ✭✭✭✭✭

    @jesbroken said:
    Yes, there is a shortage. Joey has all of them.
    JIm

    Check under his car seats. :o

  • JBKJBK Posts: 14,637 ✭✭✭✭✭

    I ask for a few rolls of nickels and quarters and have gotten all CWRs.

    I have also noticed that there has been an influx of 2001D nickels on the east coast, and from different banks. So distribution has definitely been an issue.

  • JBKJBK Posts: 14,637 ✭✭✭✭✭

    @rec78 said:

    What commonwealth? There are four states called commonwealth's. I am in the commonwealth of Pa.

    I am practicing in case I am ever a contestant on Jeopardy, so I am just going from memory....

    PA, MA, KY.....is the 4th one Virginia?

  • MsMorrisineMsMorrisine Posts: 32,123 ✭✭✭✭✭

    Yes

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • KurisuKurisu Posts: 1,832 ✭✭✭✭✭

    Well I went to my favorite Chase today, it's only a few miles from the Denver Mint...
    Apparently one of the few Chases @joeykoins doesn't go to :wink:
    I asked them if they've been experiencing a coin shortage...and they looked me like I was crazy. Lol!!!

    They've known me forever...told them that the Credit Union of Denver is claiming there's a shortage too...my Chase teller friends have literally no idea about it and happily offered anything I wanted :smiley:

    Not only did she grab a few of the shiniest she could find but she told me they had a couple slightly older rolls sitting out of a box in the safe for a long time and offered me those too.

    I got some shiny shiny for tonight!!!
    You can see the two older rolls are slightly grey and have clearly been experiencing some compression for quite a while.

    Coins are Neato!

    "If it's a penny for your thoughts and you put in your two cents worth, then someone...somewhere...is making a penny." - Steven Wright

  • USSID17USSID17 Posts: 1,264 ✭✭✭✭✭

    @Kurisu said:
    Well I went to my favorite Chase today, it's only a few miles from the Denver Mint...
    Apparently one of the few Chases @joeykoins doesn't go to :wink:
    I asked them if they've been experiencing a coin shortage...and they looked me like I was crazy. Lol!!!

    They've known me forever...told them that the Credit Union of Denver is claiming there's a shortage too...my Chase teller friends have literally no idea about it and happily offered anything I wanted :smiley:

    Not only did she grab a few of the shiniest she could find but she told me they had a couple slightly older rolls sitting out of a box in the safe for a long time and offered me those too.

    I got some shiny shiny for tonight!!!
    You can see the two older rolls are slightly grey and have clearly been experiencing some compression for quite a while.

    I see W's in your future!!

  • USSID17USSID17 Posts: 1,264 ✭✭✭✭✭

    You guys owe me. I ran @joeykoins butt of the road today!!!

  • joeykoinsjoeykoins Posts: 14,787 ✭✭✭✭✭

    WOW!!!

    What in the world would be the best way to clean these up? Whomever gets the job, It'll be a back breaker. :o

    "Jesus died for you and for me, Thank you,Jesus"!!!

    --- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.
  • thebeavthebeav Posts: 3,744 ✭✭✭✭✭

    There seems to be a problem again here in Buffalo. Twice now, when I have visited Walmart, the self check-out machines were credit card only. I asked today what's happening and was told the store can't get the change necessary to stock the machines. With only 2 live cashiers, I saw at least one person set down their purchasables and walk out. It's serious when it costs businesses money......

  • USSID17USSID17 Posts: 1,264 ✭✭✭✭✭
    edited July 16, 2021 3:04PM

    @thebeav said:
    There seems to be a problem again here in Buffalo. Twice now, when I have visited Walmart, the self check-out machines were credit card only. I asked today what's happening and was told the store can't get the change necessary to stock the machines. With only 2 live cashiers, I saw at least one person set down their purchasables and walk out. It's serious when it costs businesses money......

    I think us coin collectors were/are the "canary in the mine" when it come the this shortage fiasco. Is there a larger storm on the horizon? I still haven't received a satisfactory answer to this question/PROBLEM and which hairbrain bureaucrat is going to solve it!! If they're not a part of the solution, they're a part of the problem! Totally unacceptable for this country today!!

  • Steven59Steven59 Posts: 8,260 ✭✭✭✭✭

    @joeykoins said:

    WOW!!!

    What in the world would be the best way to clean these up? Whomever gets the job, It'll be a back breaker. :o

    I hear Dyson has battery powered vacuums for cents, nickels, dimes, or quarters........... take your pick...... :D

    "When they can't find anything wrong with you, they create it!"

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