The next shortage

[gwpercle]

My daughter was talking about it last week but I didn't take it seriously .
This morning on national news it was announced .
There is a shortage of U. S. Coins !
I wonder how much a penny will cost you on E-Bay now .

At one time a local bank wouldn't take coins ... they didn't want to fool with sorting and wrapping .
Another bank didn't want to take Covid-19 infected cash because they didn't know how to disinfect it to prevent the spread ... now they say rolled coins are OK .

I though plastic credit / bank cards and pay-pal did away with the need for coins... Just why is there a shortage... I don't get it .
Gary

[bakerjw]

I have heard because banks haven't been taking them.
But the tin foil crowd is also saying that it is to get us to go to a cashless society.

Look at the rush on toilet paper a couple of months ago. We went into the store the other day and they had pallets of it everywhere.

[WILCO]

The cashless society is real.
Nothing tinfoil about it.
Coin shortage is from cashless transactions.
There's a great majority of Americans not venturing out and spending money.
Coins are being taken out of circulation because they're at home in jars on the counter.
Highly doubt anybody is going to like it when the wheels come off the economic wagon.
Reality is the greatest teacher.

[WILCO]

Look at the rush on toilet paper a couple of months ago. We went into the store the other day and they had pallets of it everywhere.

Supply has met demand.

[Winger Ed.]

There's the same amount as there was last month.
They may not be making quite as many news ones due to the virus, but they're mostly just not in circulation right now.
Instead, they're all in bowls on everybody's dresser.

It would help if the govt. didn't take them out of circulation when they have the least little bit of tarnish on them.
In the old days, a new coin was almost an oddity, and the ones in our pockets were often so worn,
you about couldn't read the date on one.

Same thing with paper money. You never get old, thin, worn bills any more.
In the old days, you darn near had to go to the bank and ask to get a new paper bill.

It's almost as if a new coin or bill goes out of the bank, get's spent a few times, and when it comes back
to the bank from a high percentage cash business, it gets sent back to the Treasury, and replaced with a new one.

[farmbif]

in Georgia Walmart no longer makes change not sure what it is in other places, no matter what the difference is in total amount due to payment. from $0.01 to $99.99 you get a gift card these days

[bedbugbilly]

But . . . in normal situation . . . those coins sitting in bowls and jars at home would not be in circulation anyway . . . until the person took then to the bank and turned them in. My wife and I are the same way . . once a year, we always took our collected "pocket change" to the bank, ran it through their counter and cashed it out. There was no shortage in those times of coins.

Curing the Covid crisis - a higher percentage of those in quarantine have turned to "on-line" purchases for many consumer goods - yea, still trips to the grocery store and gas station periodically, but pocket changed produced for the jar at home drastically reduced.

Sorry . .. . but I don't buy the "shortage" . . . . maybe 'cause I'm old and seen too much shenanagins by the guvment in years past. We are being forced into a cashless society - and I personally don't like it. At the CU we use here in Arizona - no more tellers - you talk to a computer showing a teller someplace many miles away. Hey . . "cashless" is good for the banks and why wouldn't it be . . . high interest credit cards used by so many without common sense who have no idea of how much they are paying in interest when they buy something the "really need" - i.e. something they could save up for and buy but they need instant gratification . . . all they know is that they can make a monthly payment . . they don't see how long it will take to pay off - if they ever do. Debit cards? Oh my . . . my wife and I are asked how we an possibly live without one!

And I won't even go into the state of the educational system where we have young people who can't even figure4 out how to give the correct change by counting back - they need a machine to tell them how much to return to the customer.

Computers . . . cell phones . . . computer watches . . . a cashless society . . . all bodes for trouble. Cyber attacks? Hacking? What will happen if a truly serious cyber attack wipes out financial records of possibly millions of people?

No different than a "paperless" society that is being pushed . . . especially by the Left treehuggers . . . Really? Will someone please explain why then, every time a new law is passed it usually requires more paperwork for the taxpayer? Just one good example . . . Obama Care . . . . every taxpayer received a form that had to be filed with their taxes to show if they did or did not have health insurance so that the IRS could collect the "fine" if the taxpayer did not have health insurance. That requirement required an envelope, the sheet of paper for the form and the sheet of paper for explanation/information. The first year it was in effect, we received the mailing twice. The reason? The form was "new" and our insurance company did not check one of the boxes so they had to send out a second mailing. Just multiply that one mailing by the number of U.S. taxpayers . . . oh yea . . . that certainly contributed to a "paperless" society!

On the coins . . . I talked with a friend the other day who is scared about the way things are going and the possibility of a depression. She is a very well educated woman . . . what I often refer to as "book smart but street stupid". She was telling me that she was thinking about gathering coins in case there was a depression. She had talked to an older gentlemen she knew who had grown up during the Depression and he had told her how his dad had saved coins and had them to pay for things since very few had money. Now when I grew up, I heard about the Great Depression every day - my Dad was born in 1908 and he was married with one child at the time of the Depression (I was part of a "second family"). I listened to my friend who thought it was a good idea to hoard coins like her older friend had . . . and then I reminder her that during the Depression, the coin was all silver . . . not the copper clad coins of today . . and that their value was based on the silver, not what the denomination that the guvment stamped on them.

[Nelsonholsters]

Well the biggest problem I have with cash not being used is think about how many cash transactions are made everyday with drug deals, I'm sure there is still plenty of cash still floating around.
I don't think dealers are taken plastic yet.

Sent from my Moto E (4) using Tapatalk

[frkelly74]

Supply has met demand.

But my feeling is that the price has jumped a bit.

[Conditor22]

1) I started a swear jar

2) They are all in wishing wells from people wishing 2020 would be over

[Pigboat]

in Georgia Walmart no longer makes change not sure what it is in other places, no matter what the difference is in total amount due to payment. from $0.01 to $99.99 you get a gift card these days

Save up 10 or 12 of these then go shopping with them, some two dollar bills, Susan B Anthony dollars, Scacgawea dollars, Presidential dollars and a few half dollar coins and take a picture of the young cashier's face. :smile:

[dangitgriff]

This country has a shortage, all right...
Of LIBERTY!
R/Griff

[Geezer in NH]

What we have no shortage of is IDIOTS!

[Nelsonholsters]

Do if we start having another ammo shortage I wonder if we can powder the idiots behinds and shoot them like in the song??

Sent from my Moto E (4) using Tapatalk

[bikerbeans]

I know where all the coins are, in a big jar on my kitchen counter. I can't lift the dang thing.

BB

[Martin Luber]

Banks and businesses want to buy certified rolls from the mint, they don't want to handle your loose coins. That's where the shortage comes from

[samari46]

I've been saving change long before any covid virus showed up. Been doing it for years. Banks around here will not take loose change. So have to get the rolls from the bank or buy them and spend some quality time rolling all of them up. Then write your account number on the rolls as well. But since we now have the virus been paying with plastic. Went in for our two week shopping trip and they had a big sign saying "due to the shortage of coins we suggest alternate means of paying for your items" And "No change will be given out". Which basically means pay by checks,debit or credit cards. And the coin machines get a percentage of what you feed it. I heard 10% per transaction,and could be wrong on that one. Regardless they still charge you a fee. As for me I will roll them up and to the bank I shall go. Frank

[fcvan]

Weird, My bank takes loose change, counts it and the machine rolls it. There are coin exchangers at the grocery store but they charge a percentage unless you put the 'money' on a prepaid card for this or that company.

I got to where I would have 20 or 30 dollars and change, and just use the self checkout at Walmart to buy a deli sandwich/tray before heading to the range or out in the hills. Mostly, I would get such a lunch when travelling back and for from CA to Colorado.

My brother used to empty his pockets in a jar, sometimes putting in folding money as well. Full jar, and he would take his grand kids to Dysneyland. Another friend, a truck driver, put his change in the ash tray of his Peterbuilt. He didn't smoke and those trays were cavernous. When full, he and his wife would take a load through Vegas and he would stay a day or two on his way through.

I don't think there is a shortage, just a reduction of folks going to various places and performing cash transactions. It's too easy to stay at home and order online for things and not risk being out in public.

I toured the Denver Mint decades ago, and watched their operations. According to the tour guide, the Mint made 6 million dollars a day, just in pennies. Nickels, dimes, quarters, etc., was much more.

[wwmartin]

Around here the coin counting machine is in the lobby and the lobby has been closed for several months. The credit union I belong to still has a sign on on theirs that it's not in use. Don't know why, maybe change harbours cooties.
Bill

[AK Caster]

My daughter was talking about it last week but I didn't take it seriously .
This morning on national news it was announced .
There is a shortage of U. S. Coins !
I wonder how much a penny will cost you on E-Bay now .

At one time a local bank wouldn't take coins ... they didn't want to fool with sorting and wrapping .
Another bank didn't want to take Covid-19 infected cash because they didn't know how to disinfect it to prevent the spread ... now they say rolled coins are OK .

I though plastic credit / bank cards and pay-pal did away with the need for coins... Just why is there a shortage... I don't get it .
Gary

Surprised you just heard of it. Stores have been posting signs of the change shortage for at least a month. The reasons are very simple. Most adult males empty their pockets when they get home into a can. These same guys rarely leave home with any change in their pockets. Add in most mints are working at a reduced capacity.
Its not a conspiracy. Change is being taken out of circulation from people who save it. And not as much is being produced.

[gwpercle]

Save up 10 or 12 of these then go shopping with them, some two dollar bills, Susan B Anthony dollars, Scacgawea dollars, Presidential dollars and a few half dollar coins and take a picture of the young cashier's face. :smile:

I gave a Wally Mart cashier a Sacagawea Dollar Coin and she wouldn't take it ... told me it wasn't real money !
Gary:drinks:

[gwpercle]

Surprised you just heard of it. Stores have been posting signs of the change shortage for at least a month. The reasons are very simple. Most adult males empty their pockets when they get home into a can. These same guys rarely leave home with any change in their pockets. Add in most mints are working at a reduced capacity.
Its not a conspiracy. Change is being taken out of circulation from people who save it. And not as much is being produced.

It takes a while for news to make it's way down de Bayou ... the pirogue boat is slow !
Gary

[Mal Paso]

First I've heard but I get all my news here. With the blur of signs now I could have missed it.

I've had the same 5 quarters in my pocket for 3 years now for phone or parking but a lot of meters take credit cards now. I use plastic. I think there's a baggie of quarters left from before I replaced the washer/dryer but there's no jug of coins here.

I found a well warn 1886 silver dollar that I saved from the old house the other day. 1886 was the beginning of smokeless powder. I wonder where it's traveled in all that time.

[dtknowles]

It is not just change. I was at the post office to mail a package of brass for a member here and to cash the money order he sent me. The worker at the post office said he could not cash the money order because he did not have enough money in his till to cover it. ***.

Tim

[tomme boy]

I am driving from Iowa to Texas and I am on my way back home. We stopped in Oklahoma for the night. We have yet to have a problem getting change or paying with cash.

[dangitgriff]

I’m thinking the areas of the country with the highest population are affected the most, such as the coasts on both east and west and the largest cities.
FedCoin digital currency is coming, and its supposed benefits absolutely do not outweigh the detrimental costs to liberty, privacy and free markets. An overview of FedCoin by Ron Paul:
https://www.lewrockwell.com/2020/07/ron-paul/fedcoin-a-new-scheme-for-tyranny-and-poverty/

[Petrol & Powder]

I didn't even know there was an alleged coin shortage until about two weeks ago when I saw a sign in a store asking customers to use exact change if paying with cash.
Now here's the funny part, same store about a week later. There was a big storm, the credit card machines and internet got screwed up and they couldn't process credit cards. Now the sign read, "Cash Only".

Folks, if someone is in the business of selling something, they are going to want your money. I have yet to have someone refuse to take cash. If they can't make change they may try to con you into rounding up. That works both ways, tell them they can round down or you're walking away. I'll bet you they will suddenly find a magical way to make change !

[dtknowles]

I didn't even know there was an alleged coin shortage until about two weeks ago when I saw a sign in a store asking customers to use exact change if paying with cash.
Now here's the funny part, same store about a week later. There was a big storm, the credit card machines and internet got screwed up and they couldn't process credit cards. Now the sign read, "Cash Only".

Folks, if someone is in the business of selling something, they are going to want your money. I have yet to have someone refuse to take cash. If they can't make change they may try to con you into rounding up. That works both ways, tell them they can round down or you're walking away. I'll bet you they will suddenly find a magical way to make change !

Even before this pandemic, some places had restrictions on cash. The most common was they would not accept bills larger than $20. During hurricane Katrina, one gas station I went too would not make change but they would let you add merchandise to your gas purchase to get closer to your cash. Since then I have been keeping more small bills and change in my emergency funds.

Tim

[dragon813gt]

The no large bills is due to counterfeiting and not having a lot of cash in the till or in the building. I understand both reasons for it. Especially at places that are easy targets for robberies.

Personally a large retail outfit should be giving out gift cards like Walmart. There is no reason to do anything else. They already have the infrastructure in place to give and accept the cards. I feel the same way about Sheetz. This is the only place I’ve been that would only accept exact change. They have gift cards and should be handing them out as change.

[Petrol & Powder]

I can understand not wanting to accept large denominations. Large denomination currency is more frequently counterfeited.
Additionally, small purchases made with large bills will deplete the seller's smaller bills that they make change with.

Because it is common practice to keep $50 & $100 bills under the cash tray in the register, there is also the technique of criminals offering a large bill (usually counterfeit) to get the clerk to lift the cash tray out of the register. They will then gage if they want to scam the store with a fake $100 or just rob the clerk at that point.

Edit - dragon813gt beat me to the response

[shooterg]

Chick-Fil-A was giving customers a coupon for a sandwich if they bought food with rolled up 10 bucks of coins !

[rockrat]

Only two stores in town have the sign up. I do carry change, been doing it for many a decade and probably would feel weird if I didn't have at least a couple dollars in change in my pocket.
One store, if you use the checker, they ask for exact change, but if you do the self serve, you get change back. Thought, if you have change for the self serve, why not for the checkers?

[fiberoptik]

I am driving from Iowa to Texas and I am on my way back home. We stopped in Oklahoma for the night. We have yet to have a problem getting change or paying with cash.

I took my grandson to GameStop for a video game. Sign on the window says max 5 customers/ Not accepting cash—Credit Cards Only!


Sent from my iPhone using Tapatalk

[Petrol & Powder]

How much you want to bet some cashiers are telling customers they can't make change in the hopes that the customer will just round up to the next highest dollar. A lot of suckers will accept that they will not get change back and pay more. At the end of the day the cashier just pockets the excess in the till.

[dragon813gt]

I took my grandson to GameStop for a video game. Sign on the window says max 5 customers/ Not accepting cash—Credit Cards Only!


Sent from my iPhone using Tapatalk

Hope you didn’t buy there. They are a poor company and I will be glad when they finally go under. They have done nothing but rip off the gaming community for many years. I know they’re convenient. But their business practices are unethical.

[Scrounge]

What we have no shortage of is IDIOTS!

Nailed it in one!

[Petrol & Powder]

What we have no shortage of is IDIOTS!


"Two things are infinite: The universe and human stupidity; and I'm not sure about the universe", Albert Einstein

[tomme boy]

Walmart and Aldi's stores in Clinton Iowa both have signs up for no coins. Have for about 3 weeks now

[MrWolf]

The no large bills is due to counterfeiting and not having a lot of cash in the till or in the building. I understand both reasons for it. Especially at places that are easy targets for robberies.

Personally a large retail outfit should be giving out gift cards like Walmart. There is no reason to do anything else. They already have the infrastructure in place to give and accept the cards. I feel the same way about Sheetz. This is the only place I’ve been that would only accept exact change. They have gift cards and should be handing them out as change.

Problem is if you are not from the area the store cards are worthless. I only heard about Sheetz when I moved out here from Jersey.

[dragon813gt]

Problem is if you are not from the area the store cards are worthless. I only heard about Sheetz when I moved out here from Jersey.

This would effect me more than most since I travel for work. A lot of places have large service areas. Sheetz is certainly one of them. People traveling through from out of area would obviously be effected. But a gift card is better than being told to round up or no purchase at all.

[dtknowles]

This would effect me more than most since I travel for work. A lot of places have large service areas. Sheetz is certainly one of them. People traveling through from out of area would obviously be effected. But a gift card is better than being told to round up or no purchase at all.

The round up thing has been going on for a while, even before the pandemic. At least one on-line vendor has been doing the round up for the NRA for years. My local pet store has round up for the Humane Society and now CVS has round up for some medical charity. It is not just to avoid change as they still give you the option when using a credit card. I have mostly been using credit cards for all my purchases for years and years to get the cash back bonus of course you probably know that Gun Shop and Gun Show vendors charge extra to use a credit card. I carry cash and carry extra to gun shows but mostly use the cards.

Tim

[dragon813gt]

Never said the round up thing was new. But there’s a difference between being asked to round up and being told you have to round up if you want to purchase something. Large retailers have no excuse not to issue gift cards as change.

The “cash discount” is both good and bad. It’s good because in theory the retailer is not spreading out the 3% fee across all items they have for sale. But you also don’t know if this is actually the case. And since I pay w/ a CC I end up paying the higher price. This is a personal decision and I’m not blaming anyone.

I’ve been kind of chuckling at the notion that this is the point where they are forcing us to a cashless society. Cash is used in 30% of all transactions in the US. That means 70% is paid for w/ other means. Now it is used 55% for transactions under $10. We have been a mostly cashless society for an long time. About the only place I use cash is foreign countries. And this isn’t for any other reason than bringing some paper notes and coins back as souvenirs. Cash is certainly king in Europe where it’s used for 80% of all transactions.

[contender1]

One thing some businesses don't understand,,, coins & paper money are all "Legal Tender for all debts, both public & private." So, if I go to buy something,, and they refuse to accept my cash,, OR give me correct change,, I have a few options.
One, I'd first request a manager,, politely explain the law about Legal Tender, and see if they will accept it or not,, and or make correct change. If management refuses, then I'll politely tell them the next conversation we'll have, will be in court,, as I sue them,,, for operating an illegal business & violating Federal laws of commerce. And of course,, I'll be discussing my lawsuit with as many public outlets of news media as I can.

I was in my local Wally World of Walmartians a few days ago with a friend. I have almost stopped shopping there anyway,, but he needed some stuff,,, and since I'd just picked him up from the hospital,, I was going to keep an eye on him.
We could not use the self check option due to "card only" purchase rules there. So we both got into a line,, side by side. There were only 2 live tellers working,, and they were busy,, with folks using cash.
I was at the back of the line when a floor mgr asked me; "Are you paying by card?" I said, (politely) "No,, I always use cash." Then, I politely asked him why didn't he open a few more cashier lines up. He looked a little bewildered,, and walked away. A guy got behind me, and soon after,, the same mgr came along & asked him about card purchases. (BTW; The self check area was empty.)
That guy also was paying cash.
I stopped the floor mgr and asked for the store mgr. He looked at me funny & I said; "You are creating problems by not having enough cashiers,, or by not being willing to accept cash as a form of payment." He left, and shortly, he got a 3rd line opened. I was first in that line. Then, my buddy was stuck in his line, so I had to wait. So, I went over to the "Customer Service" desk, and asked for the store mgr. When she came out,, I politely told her that they needed to re-think their policy about how business transactions were being handled. Cash money is legal tender,,, and by not accepting it was causing extreme slow downs in checkouts. Plus,, no matter what,, the same number of folks will be using cash so, either fix the machines to accept cash again, or hire more cashiers.
Of course, she apologized, and said she was just following corporate rules,, and that they were experiencing a coin shortage. I said; "But the same number of people will still need correct change!"
She was basically bewildered.

I told her,, that due to several different little business decisions I'd seen wally world make over the years,, I have CHOSEN as a customer,, to spend my money in other places. I mentioned that I USED to shop there 2-3 times a week. Now,, it's maybe 2-3 times a month,, if THEY are lucky.

Since this beer virus pandemic crap started,, we Americans have been subjected to all kinds of restrictions,, that often are UN-Constitutional or illegal. If we keep following the mandates & act like sheeple,, we'll be herded like sheep to slaughter. We have to do whatever little we can do to stand our ground, and show others what is wrong. As long as we do it legally & politely.

[trebor44]

Another media generated ploy or do they just want you to turn in all of your 'coins'! Think of all the 'coins' that are buried out in the wild and those that are found decades, hundreds of years and in some cases thousands of years later. Can plastic or paper survive like that?

[JonB_in_Glencoe]

A friend just told me he couldn't find any canning jar lids anywhere within reasonable driving distance of Glencoe :shock:

[dragon813gt]

A friend just told me he couldn't find any canning jar lids anywhere within reasonable driving distance of Glencoe :shock:

It’s normal around here for them to disappear from shelves around this time. Only places that sell them are Walmart and one grocery chain. So it’s very limited stock to begin w/.

I did check Amazon. None available w/ Prime and prices are high. This is exactly why I put new lids on every jar after cleaning and keep enough packaged lids for every jar I own. That gives me a two year supply if I use every jar I have.

[JonB_in_Glencoe]

It’s normal around here for them to disappear from shelves around this time. Only places that sell them are Walmart and one grocery chain. So it’s very limited stock to begin w/.

I did check Amazon. None available w/ Prime and prices are high. This is exactly why I put new lids on every jar after cleaning and keep enough packaged lids for every jar I own. That gives me a two year supply if I use every jar I have.

well, there is likely 30+ stores within 40 miles of Glencoe that carry lids this time of year. The only other time I seen empty shelves at a particular store, is when that particular store had a sale.

2020 is definitely the year of shortages.

[trebor44]

It is incredible how gullible some people are! When you use 'plastic' you don't need change, unless you are getting 'cash' back. The change 'shortage' is very contrived! Think back ten years and how popular the 'coin' bottles were for a "defacto savings bank"! Anyone still looking for toilet paper?

[gwpercle]

It is incredible how gullible some people are! When you use 'plastic' you don't need change, unless you are getting 'cash' back. The change 'shortage' is very contrived! Think back ten years and how popular the 'coin' bottles were for a "defacto savings bank"! Anyone still looking for toilet paper?
LIKE LIKE LIKE !!!

I'm hitting my like button ,
Gary

[Buzz Krumhunger]

The grocery store here was completely out of Windex the last time I looked. All varieties of it. I don’t know what’s up with that. The only glass cleaner they had was an aerosol type called “Sprayway”.

[dangitgriff]

Gold is in short supply, too.
https://uploads.tapatalk-cdn.com/20200807/68e33c71fefd78ec6a12c3f97b54b8cd.jpg

[dtknowles]

Gold is in short supply, too.
https://uploads.tapatalk-cdn.com/20200807/68e33c71fefd78ec6a12c3f97b54b8cd.jpg

Actually the gold supply has increased, the price is up because of increased demand a lot as some people are going risk off expecting the recession to be long and deep. You do know we are in a recession, right? You can get all the gold you want, no shortage but you will have to pay a pretty penny.

https://www.jmbullion.com/gold/gold-coins/?msclkid=5c322dbd923719b4f7f972907b776e04&utm_source=bing&utm_medium=cpc&utm_campaign=Buy%20Gold%20Coins%20Search&utm_term=buy%20gold%20coins&utm_content=Buy%20Gold%20Coins

Tim

[dangitgriff]

Demand will outstrip supply as soon as the next market crash, when investors flee ETFs looking for safe-haven assets.
Not to mention Russia, China, India & their regional neighbors stockpiling gold to back their sovereign currencies and facilitate non-dollar-denominated trade to avoid Washington’s (illegal) economic sanctions.
Oh, yes—the USD’s days are numbered. Like Peter Schiff recently opined, gold is going to the moon, and if you want to preserve your wealth you better make sure you’re on that rocket before it takes off.
R/Griff

[Eddie Southgate]

There is a shortage of looter targets in Minor Hill , other than that i got everything I need with more on the way . Local WM now only takes cards so I been told . I can't imagine a store getting away with not accepting US currency and being able to stay in business .

[dangitgriff]

Well, Eddie, I can’t imagine living in a socialist dictatorship under government rule, but here we are.
The Federal Reserve is pushing for a digital currency to aid in manipulating the economy down to the individual bank accounts of every American. What could go wrong, there?

[SSGOldfart]

I know where all the coins are, in a big jar on my kitchen counter. I can't lift the dang thing.

BB

Same with me but it's not in the kitchen won't fit there, and the bank lobby has been closed since March so how do we cash in our coins?[smilie=1:

[Ozark mike]

There are more important things to me than some mineral out of the ground for all i care we could go back to the bartering system. I got food and water up in the hills can live without most modern convinces for crying out loud my main vehicle is a 67 ih. People need to let go of these devices of men is how the bible puts it.

[pocketace]

they have been wanting a cashless society for several decades. and the mint is actually an entity run by companies making private coins and such. they actually do the wrapping for bank coin rolls