Have I missed a thread about a coin shortage?
bsshog40
Posts: 3,929 ✭✭✭✭✭
I may have missed a thread about this and you may point me in the right direction if so. It seems that stores are not getting any coins from the federal reserve. Some stores are asking for exact change or cards only. Anyone know what's up with this? thanks!
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My Original Song Written to my late wife-"Plus other original music by me"
https://youtube.com/playlist?list=PL8A11CC8CC6093D80
https://n1m.com/bobbysmith1
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Only about 20 or 30 active threads on the subject. Strange part is no shortage here in The Commonwealth. Must have something to do with all them JUGS.
I'll search a little better! Lol
My Original Song Written to my late wife-"Plus other original music by me"
https://youtube.com/playlist?list=PL8A11CC8CC6093D80
https://n1m.com/bobbysmith1
Search on google.com using this text:
site:collectors.com coin shortage
https://forums.collectors.com/discussion/1039895/us-coin-shortage June 28
https://forums.collectors.com/discussion/1039626/the-coin-shortage June 23
What you are hearing is correct.
I'm not quite sure how there can be a shortage ... but there is.
What coin shortage?
i have thousands of uncirculated state quarters i would sell to the banks for a premium
There’s a coin shortage? Does that mean my coins are more valuable now? 🤔
I have jars of cents, nickels, dimes and quarters....Holding them until premiums are offered
Cheers, RickO
There was actually a story on our news last night about it! Even had a coin dealer commenting.
I was just at Wallmutt. There are self check-outs at either end of the store. One end has been turned into credit cards only as they could not get change and small bills to fill the machines. Then I stop at the gas station. The guy in front of me was trying to buy a doughnut with a twenty. They couldn't change the twenty. I changed it for the guy. Couldn't deprive him of his doughnut.
Whet the heck. Haven't businesses and the economy been beat-up enough ? Well, I guess you wouldn't know it looking at the schtock market......
Yep I was in Walmart this morning and all the self checkouts are running credit only. No coins available they said.
However I stopped by the Amish market after that, they had plenty of coins for change and are still 100% cash only. If I see them switching over to credit then I will know we are in deep trouble.
On a separate note when I drove by the local bank I noticed cars from the drive thru backed out into the street. Must of been 20 at least. I live in a very very small town. Highly unusual traffic. I'm not sure if a bank run has begun or maybe today is the day everyone gets their unemployment and welfare checks.
@bsshog40
I heard from my bank that currency is also becoming scarce.
It makes me wonder sometimes if a cashless society isn't too far around the corner? If we became cashless, I wonder if the mint would still mint collectors sets, ie... Proof sets, Uncirc sets.
My Original Song Written to my late wife-"Plus other original music by me"
https://youtube.com/playlist?list=PL8A11CC8CC6093D80
https://n1m.com/bobbysmith1
not surprised. let the war on cash begin.
Gold has a world price entirely unaffected by accounting games between the Treasury and the Fed. - Jim Rickards
I have always noticed several credit cad only machines at Walmart.
I believe you are right ... It just don't figure ... In my mind anyways.
The war on cash has already begun.
Forget the war on cash........I starting to think the war on ME has already begun. Bet my bottom dollar I'm not alone.
The latter. Unemployment is about to drop and people are grabbing as much as they can hold on to in cash.
How about Chipolte keeping all of your change from a $20. The store gave no change and kept $4.
https://www.cbs8.com/mobile/article/news/local/coin-shortage-causes-confusion-at-chipotle-restaurant-in-san-diego/509-243f9bc9-b04e-46b7-aa9e-ab41289343f4
Literally took corporate and General Manager to figure this one out. Sounds like another class action to me.
Takes “keep the change” to the limit lol. We keep $14 out of your $20 bill for a $6 burrito.
@Sun Diego
Wow ... Somethings going on. That's horrendous.
Thank for sharing that.
Coins are not circulating because people are not using them. I am an example. I have not spent or received a coin since March. I have used a credit card for most transactions and checks for several others.
I have a coin tube set by my bedside table. When I fill a tube, I roll up the coins and deposit them in the bank. I have not taken or added a coin to it in four months.
I usually amass change until multiple rolls have accumulated and I get tired of having it sit around... then usually take down to the local bank to turn in for full value. Not so any more, with the lobby closed of most banks. I'm not a person who cares to use Coinstar... so I just hold on to the change.
We are learning a lot with this pandemic... had no idea how far reaching the effects would be.
No shortage of coins exists. Accessibility might be a problem.
Those who need coins need them to spend (circulate). The only reduction is in the velocity with which coins move through the system.
Gold has a world price entirely unaffected by accounting games between the Treasury and the Fed. - Jim Rickards