Coin Shortage Summer 2021

Onastone

I've had two local banks tell me there is a major coin shortage this summer. I've been sorting through a box of quarters a week and now am finding it difficult to get a box from the bank. I took the last box from one bank last Thursday, the teller told me they are having great difficulty getting them. Another bank told me they're limited to just 2 boxes a week now while she's trying to divide them up equally to the local businesses and I could get maybe 5 rolls. Anybody else experiencing this problem? It happened last summer too, but we bounced back pretty quickly.

derryb

yep, especially quarters.

BryceM

If every American cashed in their change buckets we could close the mints for a couple years.

For most people, change is a nuisance and gets casually dumped at the end of a day.

Bring out $1, $5, and $10 coins, eliminate the $1, $5, and $10 note (along with the cent and nickel) and voila, no more coin shortages. Coins would magically become relevant to average people again. Might help the long-term viability of our hobby too.

koynekwest

That's a great, sensible idea BryceM! I couldn't agree more.

Tibor

Banks in my area don't have counting machines. They don't want loose change. So it just
keeps piling up in jars and sock drawers. At WalMart , the self check outs will accept change.
Most have a feature where you can put small hand fulls in at once. Sometimes I just put
$5 in a small bag and leave as part of the tip in a restaurant.

johnny9434

I cashed in $146 2 weeks ago and took that part to a coin show. Put it towards a 1925 Canadian nickel xf 45. I'm happy

fathom

Since July 17 I have ordered and picked up $3500 or 7 boxes of Q's for local accounts from wells fargo. IMO contingent on branch management making the commitment.

privatecoin

Yes help further weaken our currency. It's worth too much anyway.

ricko

I have jars, bags and boxes of coins... No shortage for me.... Cheers, RickO

derryb

@BryceM said:
If every American cashed in their change buckets we could close the mints for a couple years.

For most people, change is a nuisance and gets casually dumped at the end of a day.

Bring out $1, $5, and $10 coins, eliminate the $1, $5, and $10 note (along with the cent and nickel) and voila, no more coin shortages. Coins would magically become relevant to average people again. Might help the long-term viability of our hobby too.

They tried $1 coins, how many in your pocket?

BryceM

They didn’t really try it. For it to have a fighting chance they need to ditch the $1 bill, obviously.

savitale

If coins are needed to support the economy, particularly for lower income households, then the US Mint should make more. Stop making pennies, half dollars, ASEs, and all the other non-circulating commemorative crap. Put those people and presses to work making nickels, dimes, and quarters. Isn't that what the mint is supposed to be there for?

Lakesammman

I put 99.999% on plastic - no change shortage where I shop.

derryb

Mint is putting 100s of millions of new coins into circulation each year. There is no shortage, just the Federal Reserve telling banks there is a shortage.

Onastone

@derryb said:
Mint is putting 100s of millions of new coins into circulation each year. There is no shortage, just the Federal Reserve telling banks there is a shortage.

Exactly. What would it take for a genuine coin shortage? For coins to actually stop circulating, there would need to be thousands of Rickos stashing coins in jars, bags, and boxes. The mint would have to stop minting new coins. The coin stars would have to stop recycling and rolling. The chain would have to be broken. Is this a Federal Reserve lack of employees thing???

Bullsitter

My bank has a coin counting machine that's free if you have an account. I took all my change in last week. About 4-5 years worth.

.

JedPlanchet

@Bullsitter said:
My bank has a coin counting machine that's free if you have an account. I took all my change in last week. About 4-5 years worth.

.

A cent and two dimes away from $1,776 !

Tibor

Amazing you had 2000 more quarters than cents. Usually very few quarters are part
of a change accumulation like yours. I've watched Coin Stars emptied out a few
times. Thousands of cents and very few quarters.

Bullsitter

@Tibor said:
Amazing you 2000 more quarters than cents. Usually very few quarters are part
of a change accumulation like yours. I've watched Coin Stars emptied out a few
times. Thousands of cents and very few quarters.

.

.
Good observation. I got a box of quarters in 2020 to search for "W" quarters, found one.

silverpop

not here banks and such have plenty of coins,

daltex

@derryb said:
Mint is putting 100s of millions of new coins into circulation each year. There is no shortage, just the Federal Reserve telling banks there is a shortage.

It must be more than that if the mint is suddenly putting half dollars into circulation.

derryb

Maybe it's all about getting half dollars into circulation. Coins don't disappear. On the contrary zillions of new ones get created every year.

P0CKETCHANGE

@Tibor said:
Sometimes I just put $5 in a small bag and leave as part of the tip in a restaurant.

LOL. As someone who has worked in a restaurant before, I can assure you that this is almost certainly not appreciated.

Tibor

I worked in a restaurant back in the 70's. Any tip is better than nothing.

P0CKETCHANGE

@Tibor said:
I worked in a restaurant back in the 70's. Any tip is better than nothing.

But the alternative isn’t nothing, it’s a $5 bill

JohnnyCache

Bring out $1, $5, and $10 coins, eliminate the $1, $5, and $10 note ...

Heck, if they issued a $10 into circulation I could be motivated into breaking out my metal detector