National Coin Shortage????

Sam06

I was at Food Lion getting some ribs to smoke and there are signs up that "Due to the national coin shortage please try to give correct change".

This is the 1st I have heard of this.  I looked it up and I guess it is true.

Weird

This is from USA today whom I hope is an approved news source.

https://www.usatoday.com/story/news/factcheck/2020/07/21/fact-check-america-midst-national-coin-shortage/5439455002/

C&P

As restaurants, grocery stores and other businesses around the country have posted signs near cash registers and on drive-thru windows requesting people to pay with credit cards or exact change, several widely shared Facebook posts have commented on the nation's recent coin shortage. 

Some of the posts include a sign from a Texas-based grocery store chain H-E-B asking shoppers to use a debit card, credit card or correct change, if possible, due to the shortage. 

The posts then warn against the potential of the U.S. becoming a "cashless society."

Focusing in solely on the claim that the nation is experiencing a nationwide coin shortage — that's true. 

Why is the U.S. facing a coin shortage? 

As the spreading coronavirus and resulting business closures crippled economic activity in the United States, the circulation of coins dropped off significantly. The U.S. Mint, which manufactures the nation's coin supply, also decreased staffing in response to the pandemic. 

As the nation's businesses have reopened, demand for coins has exceeded the available supply. 

Federal Reserve chairman Jerome Powell told the House Financial Services Committee on June 17 that the coin shortage has resulted from the partial closure of the economy. 

“With the partial closure of the economy, the flow of funds through the economy has stopped,” he said. “We are working with the Mint and the Reserve Banks, and as the economy re-opens, we are starting to see money move around again.”

I have not heard of this but then I am not on facebook.

Anyone else seen these signs?

BobJudy

Yes and I commented about it on one of Serfs posts. Like a lot of people I don't carry coins and they end up on the dresser until I have enough to roll. So because of the shutdown there the coins sit and not in circulation. Multiply that by millions of consumers and it takes a lot out of circulation.  I saw a notice from the mint that said they were going to try to increase coin production by 3 BILLION coins to try to get enough in circulation, so I don't think it is a nefarious plot to go cashless. But for anything over a couple of bucks I usually use a card anyway to get the rebates so it hasn't caused me any grief. Bob

SCOUT5

Yes, I've seen retailers having trouble making correct change.  I've started carrying change in my pocket in an attempt to help.  I have plenty and I need to be spending it anyway.  The local folks generally have a thank you handy when you pay with correct change so it must be an issue for them.

I was in Las Vegas a couple of weeks ago and noticed the cashier at the Denny's where I ate breakfast was short on change, she gave me back a quarter when I only had about 14 cents coming.   I had about five dollars in change in my room that had accumulated while I was there.  The next morning I took it with me and sold them the change and since they had given me extra the day before I gave them the odd change I had above the five dollars.  As little as it was they were glad to buy it.

SCOUT5

All that's needed to cure this is for us to drop our extra change that's laying on the dresser in our pocket or dig thru the truck console when we're buying something.

mogley98

When they pay a premium for trading it in I'll hook em up

scooterdriver

It's been at least a year since I last saw one of those round shiny things of which you speak. Everything goes on the cards (and gets paid off)...which gets me at least 2% cash back. I also keep plenty of the green stuff, but it's larger bills for opportunity transactions or extremis situations...neither of which end up with me getting coins in return.

mark christian

I saw a similar sign at the Dollar Tree a few weeks back and yes, it was the first time I heard of the coin shortage. I keep thirty or forty in small bills in my wallet for situations where cash is needed; otherwise I use a credit card- either for airline miles of stays at the Hilton, though due to present circumstances neither is likely to happen.

nmyers

No mystery.  Many folks believe that everything that they touch while out in public is contaminated with covid-19.  They don't want to touch coins or paper dollars, even if they are wearing plastic gloves.  So, anyone who has a credit card swipes that, no matter how small the purchase price.

Only the people too poor to get a charge card continue to use cash.

Neal

WearyTraveler

I use my NFCU cash back card for just about everything.  I normally pay it off before fees.  However I was talking to Ms. WT the other day.  We’re being pushed away from coins and cash.  We’re being driven toward electronic / CC payments.  I’m pretty sure that big brother knows what I do, where I do it and when I do it.  

I’ve weighed the cash (non trackables) vs. CC (trackables) several times.

i have a large jar of coins in my closet and I’ve got several thousand in 20s hidden away in case there’s a need.

select-fire

There is no shortage of anything but brains to be able to count the change back to the customer.

William81

I was out running around town the other day and stopped at Mickey-D's for a large tea to cool off on my way home...there was a sign up in the drive through that said they were short of coinage for change and would appreciate exact change or just rounding up to the even dollar........I had quarters in the truck so I paid in change.......they thanked me a couple times....

hillbille

stopped today and bill was $6.36, I didn't have enough change so gave the boy a ten, and 11cents figured to get 3 quarters back and they should have quarters, he gave me the change back wrapped in the receipt and I drove off not looking till got farther down the lot, he gave me back $3.70 cents , he had rang up$10 even,  didn't want to wait in line again to correct him, couldn't even punch it in the register right......   ssshhheeezzeeee  !@%$#*(&%&$#!

mac10

have not had a problem anywhere i spend cash

spasmcreeksrun

never go to a store that rounds up to the next dollar.  SCAM...small example..store has 100 customers a day and each rounds up to the next dollar.....now that is a 50cts average which is $50 a day and they are open 7 days a week which is $350...times 52 weeks a year which is a total of $18200 extra profit a year for doing NOTHING...how about a store that has hundreds of customers in a day ?????????????????????

NeoBlackdog

One more damn thing for the media to get us all worked up over.  Can we go back to murder hornets?  I feel like they got left behind in the shuffle.  

Grasshopper

Kroger today requested correct change, no have, so it went on my Kroger card for next purchase.? I cashed my little stash in at 145 bucks, got the water bill and gas up my two vehicles. My bank WAS paying 110% over face but don't know if that's true now.  If the coins don't have masks then they all have covid according to Fauchi, GG and the other liberal freaks, correct? I mean a virus lives on things like masks, coins, paper money, debit cards, door handles ect. WE are all doomed!!

mark christian

Hmm. It is an ill wind that blows no good, so this might be the impetus we need get finally rid of the penny. Those little zinc slugs are a PITA.

gruntled2

Canada already did it some years ago. https://www.cbc.ca/news/canada/manitoba/canada-s-last-penny-minted-1.1134670

hillbille

gruntled2 said:

Canada already did it some years ago. https://www.cbc.ca/news/canada/manitoba/canada-s-last-penny-minted-1.1134670

so then they just round up to the next nickle, and then you'll have a pocketfull of nickles instead of pennies.......and instead of sales tax being 6-7 cents on dollar it will be a dime

mark christian

hillbille said:

gruntled2 said:

Canada already did it some years ago. https://www.cbc.ca/news/canada/manitoba/canada-s-last-penny-minted-1.1134670

so then they just round up to the next nickle, and then you'll have a pocketfull of nickles instead of pennies.......and instead of sales tax being 6-7 cents on dollar it will be a dime

According to the article, it is up or down:


I'm sure that there is some conspiracy which revolves around the removal of the penny...much like our adopting the metric system.

jimdeere

This is most dire. Most dire, indeed.

waltermoe

I done my part, took my change in and got it counted, $660 dollars.  I never use change, I just throw it in this box I got on the dresser.  In about a year there is enough to fill a couple of coffee cans, I've been doing this now for maybe 30 years.  My own little annual what ever money.

mark christian

waltermoe said:

I done my part, took my change in and got it counted, $660 dollars.  I never use change, I just throw it in this box I got on the dresser.  In about a year there is enough to fill a couple of coffee cans, I've been doing this now for maybe 30 years.  My own little annual what ever money.

When i was a kid, my grandmother (mother's mother) NEVER made change: she just handed over bills and then dumped the change into her purse. When the bag got especially heavy- or jingled when she carried it, she'd allow us grand kids empty the purse, sort the change and then keep it! We're talking about what was a fairly good sum of money for the late 1960's. 

Where ever you are, I love you, Grammie. 

mohawk600

nmyers said:

No mystery.  Many folks believe that everything that they touch while out in public is contaminated with covid-19.  They don't want to touch coins or paper dollars, even if they are wearing plastic gloves.  So, anyone who has a credit card swipes that, no matter how small the purchase price.

Only the people too poor to get a charge card continue to use cash.

Neal

And everyone in the country is entering there PIN on that little keypad that NEVER gets disinfected.......with their finger.

Aztngundoc22

OK: 
Guess I should think bout 'cashing in' my change stash : I got apx. 12 peanut butter jars of 'silver' and apx. 3 gallons of pennies !
I may if the bank will pay over face value ???
Thanks !!!

gjshaw

I cashed in a five gallon water jug full before our Alaska trip last year. Almost five grand in change. We did it at one of those change machines in a grocery store that counts the change and gives you paper cash back. Much more than I was expecting.

grdad45

I cashed in over $400 in coins at my Credit Union. They were glad to get them, I guess, paid me 10% over face value. Going to help make deer season a little more affordable this year.

gruntled2

gjshaw said:

I cashed in a five gallon water jug full before our Alaska trip last year. Almost five grand in change. We did it at one of those change machines in a grocery store that counts the change and gives you paper cash back. Much more than I was expecting.

But not as much as you put in. They charge you a fee. Better to just spend them.

COLT

....In Tom Thumb grocery (Texas) a couple of days ago & over the sound system they asked for "correct change, Debit", etc. I'm SO tired of the mask, & EVERYTHING associated with this Covid crap..."Covid" the first  word Ive ever just DESPISED, sick of it! I don't believe Ive ever looked forward to a Dove season opening, as I am for this season to open...I am past ready!...

Aztngundoc22

OK : 
went to a local fast food place last week : made the order , drove up to the window to pay , the gal said its $3.87 , then said , "we have no change , can I round it up to $4.00" ? I stated "NO" and drove off !!! What a Scam !
Thanks !!!

drobs

Sorry guys I've been saving all my quarters for the car wash.

Aztngundoc22

OK : 
SCAM !!!!!!!
Thanks !!!

Sam06

Went to McDonalds to get a large fry and a sweet tea yesterday.  They had no coins to make change(they said).  I had change in the car so I paid with ALL coins.

DPHMIN

I was at a self checkout in a Walmart this week.  I purchased a few items and added $100.00 to a Walmart gas card.  I used a credit card to pay.  When I payed, a brief message flashed on the screen.  I couldn't read it, but afterwards neither my credit card nor the Walmart card would work.  I got the Walmart card unlocked, and need to call the credit card company.

I've had too many problems using cards (especially overseas) that I don't trust them.   Give me old fashioned cash.  It will work where cards won't!