Coin shortage, again?
derryb
Posts: 37,729 ✭✭✭✭✭
Informed by three branches of three different banks yesterday that they are once again being limited by their carrier on ordering boxes of rolled coins. The branches have put limits on rolls and are making them available for businesses only.
No Way Out: Stimulus and Money Printing Are the Only Path Left
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This will be a major impact for a few of our forum members...
This area was not affected by the last shortage.. probably not by this one either. Maybe I should roll up my jugs of coins and sell the rolls at a premium. 
Cheers, RickO
My bank still is appt only. I have a few hundred in coins I want to trade for paper but I'm not dumping rolls into the drive through tube. Got friends that say the same.
My banks will put boxes of coins in the commercial drive thru drawer. Not all banks now have a commercial drawer at the drive thru.
No Way Out: Stimulus and Money Printing Are the Only Path Left
We have been discussing this all week in another thread below. Seems like a YMMV event:
https://forums.collectors.com/discussion/1030493/the-official-coin-roll-hunting-finds-thread/p29
Actually if you can make $50 bags of wheat cents they are extremely hot right know. Wholesale is about $300.00 per bag, the highest it has ever been.
No shortages in The Commonwealth. Coins everywhere. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Which Commonwealth? I believe there are four.
Nothing is as expensive as free money.
According to the Federal Reserve website:
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
the allocation is only for dimes and quarters. Some banks miss-interperate (possibly on purpose) that to mean all denominations.
They believe gasoline shortage! Pald....
Why not?
https://youtube.com/watch?v=MNl_6LLXMko&ab_channel=jtallenphx
People heard there was going to be a coin shortage, so obviously the natural thing to do is to drive around to every bank in town and buy up all the available rolls.
Liberty: Parent of Science & Industry
Seems like half this forum does that every week anyway
All comments reflect the opinion of the author, even when irrefutably accurate.
Not again ... it's the same one.
Coin Shortage?
$600 worth of Quarter Rolls and Nickel Rolls!
Weekend Fun
"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.Was that you who I saw putting gasoline in plastic bags earlier this week?😂🤣
I posted about this yesterday in another thread...
But at my favorite Chase in Denver yesterday I asked if they are experiencing a coin shortage and the tellers who have known me for many years genuinely looked at me like I was absolutely crazy!!! lol.
But the Credit Union of Denver does claim there's a new shortage and is only allowing 2 rolls per customer unless you have a business account.
I got some nice ones and a couple old one's one of my favorite tellers had found in the vault.
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
Lol. GAS? I don't waste my money on Gas, when I can purchase Coin Rolls!
My priority List
1. Coin Rolls
2. Food
3. Water
4. GAS;
of course, I do need GAS to get my coin rolls.
"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.That was funny!
How do you do it Joey? Tell us your secret!
Visiting several banks.
Plus, show them your charm!
"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.Via Starbucks gift cards
"Got a flaming heart, can't get my fill"
Yes, Starbucks gift cards are a great idea, thanks, instead of the donuts that I've been buying them. This way, I still would benefit because of the Star Points they give it's customers.
"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.No, he's re-using canvas bank bags...
In honor of the memory of Cpl. Michael E. Thompson
Well it finally made it's way to my Chase banks here in Denver.
Speaking to my favorite teller yesterday...they got the memo on Monday and she read it for me.
No rolls to individuals. No orders for boxes of rolls for anyone. Businesses may only buy one bundle of rolls per day (I think a bundle is 10 rolls).
She told me they had absolutely no idea until they got the memo...so now all my banks are in this new shortage. Although the Credit Union of Denver is still allowing 2 of each type of roll per customer.
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
Is this for all denominations?
Got my weekly 5 rolls of quarters. No shortage here.
A the credit unions yes, limited to 2 rolls of any denomination.
At Chase it's mainly for quarters and nickels. they never have halves unless you order a box. I have plenty of dime, nickel, and penny rolls at the moment so I didn't ask.
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
Not yet.
Big banks say its coming. Mgrs don't say why or how or when exactly.
Any coin shortage these days is clearly @joeykoins fault.
Just bought a "Bank Bike" and the dog can even go with me now! No GAS needed! LOL!
"When they can't find anything wrong with you, they create it!"
So, naturally, the obvious thing to do is recruit all your friends and family to each drive around and get two rolls each, right?
Liberty: Parent of Science & Industry
A coin shortage boggles my mind. The percentage of transactions using cash continues to shrink. The value of most coins is practically negligible. Coins don't "circulate" in a useful way anymore, they sit in a coin jar for years before being returned to the bank because few people actually want to waste energy carrying and spending them. The mint is producing billions of coins every year to fill those jars. Seems like a messed-up system.
Yes, I know the poor, vending machines, laundromats, and parking meters rely on coins. There must be a solution.
LIBERTY SEATED DIMES WITH MAJOR VARIETIES CIRCULATION STRIKES (1837-1891) digital album
As our society moves forward with the coronavirus pandemic, I believe we will see "public health" messaging for why banks are out of coins. Why touch a surface (or ten, twenty) that so many others touched? If you can avoid that vector completely you have less of a chance of being sick. I've really only handled cash for weed and let them keep the coins.
I accept these as being possibilities:
The number of coins the government claims to exist do not exist. If the People found out there would be bank runs until total collapse.
The coins they claim exist actually do exist, BUT are tied up in change jars. But to keep the charade going, they must make more. Due to metals shortages and staffing issues, they're not replenishing that supply.
We just had a severe brass shortage the govt and media lied about until an ammo manufacturer let slip that it was a terrible problem.
So I imagine that brass shortage never got better. The drive for a cashless society is a very real thing, too. Or perhaps metals are being rerouted to industrial use only, as a matter of national security. It could be any number of things, but I think these are the most likely.
Copper is having a gamma squeeze, and the mint is short on silver for ASE. I really think the simplest explanation is the most likely but I'm really not brushing anything off these days.
If the banks reintroduced a counter at your branch for no fee—-lots of coins would start pouring in
This echoes the fate that befell the gold Indian $2.50 and $5 pieces
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I have rarely used any cash over the past 15 months. I have paid for almost everything with credit cards.
I think I have gotten coins in change three times. I think that there are a lot of coins sitting in homes. I used to roll my coins up and take them to the bank. I have not done that in well over a year. They are just sitting there.
BTW, it’s been shown that this virus is not transmitted on surfaces, like coins.
My local Bank of America is yet to open its lobby while other banks have opened them. At this point, their excuses are pretty lame.
And they rely specifically on Quarters.
To be honest, I’m bummed the US Mint isn’t offering bags and rolls of the Washington crossing the Delaware Quarters, especially since it’s a 1 year type and they offered bags and rolls of 2010 shield pennies and 2006 return to Monticello nickels. I need large amounts of Quarters and the banks gave me a hard time last year and I ended up ordering S mint 100 coin bags from the mint rather than deal with my bank.
The difference is that few people ever saw gold in circulation, especially outside of select western areas even before WWI and especially outside of holiday gifts/after WWI (including western states).
Clean out all of the fountains and wishing wells. Local Japanese buffet has a wishing well.
The owner cleans it out every two years. It's loaded.