A coin shortage? Really?

Gofirstclass

Gofirstclass

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Apr 20, 2010
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Tri Cities, WA
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For over a year I have seen signs in some stores asking people to try to use the correct change "due to a coin shortage". Really? For a year?

How is it that in the good ol' country of ours we 'allow' a coin shortage to happen and we can't fix it by producing more coins? In a year?

I'm calling BS on this one. Am I right or full of bull?
 
Ive thought the same thing, Again, Covid was to blame. Cash in general seems to be the new issue. I probably have enough coins here to fund us fir a while ;]
 
That's been going on for a long time. 10 years I'd say or close to it. Man made problem of course. You could argue increases in credit card sales helped I'm sure.
Now imagine if Comrade Omarova, Biden's nomination, becomes Comptroller of the Currency!
 
If you use cash you are in the minority now. Go to a McDonald's and watch people pay. It's debit cards. I still use cash in restaurants and I cause problems for the staff if I use a Benjamin to pay. They just don't carry a bunch of cash on hand anymore. As far as coins, I don't use them much anymore. The only time I look to get coins back in a purchase is at a fast food restaurant. The rest of the time I just round up to the dollar and not look for the coins back.
Years ago I'd always carry $500-1,000 in my pocket. Any less and I'd get nervous. Now, if I have a couple hundred it's because I'm going to a restaurant for a dinner. Otherwise I generally carry less than $100 with zero coins. I still don't use a debit card. Any purchases in box stores & gas stations, I use a credit card.
 
yobub said:
I think I'm to blame. Since my bank stopped taking loose.count to count, I think I have the entire US coin supply on my dresser and in cups in my office.
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That could be part of the problem — banks don’t have coin machines anymore. We have a soda machine at work, so I end up with bags of coins. Can’t exchange them anymore. Sucks.
 
Golfman25 said:
That could be part of the problem — banks don’t have coin machines anymore. We have a soda machine at work, so I end up with bags of coins. Can’t exchange them anymore. Sucks.
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I don’t use change, I put it in a jug when I get home. It’s not a ton, but probably $500
 
Golfman25 said:
That could be part of the problem — banks don’t have coin machines anymore. We have a soda machine at work, so I end up with bags of coins. Can’t exchange them anymore. Sucks.
Click to expand...
I thought banks had to take it? Still legal tender whether they like it or not.
 
Gofirstclass said:
For over a year I have seen signs in some stores asking people to try to use the correct change "due to a coin shortage". Really? For a year?

How is it that in the good ol' country of ours we 'allow' a coin shortage to happen and we can't fix it by producing more coins? In a year?

I'm calling BS on this one. Am I right or full of bull?
Click to expand...

I think it is related, maybe not, but in my mind this is the simplest example of federal government's failure to solve any problem: Pennies and nickels both cost to more to produce than they are worth. Data i am seeing on interweb is that pennies cost ~ 2 cents and nickels cost 7.5 cents (2019 - Coinnews.net). Pennies have been upside down since at least 2010. How stupid is a nation that spends more money to produce a coin than the coin is worth? I use this example all the time to demonstrate how inept government is.

I suspect this is related to coin shortages, but believe the real reason is that no one uses coins anymore. As many posters note, they accumulate them in their cars, bedrooms, etc.
 
yobub said:
I think I'm to blame. Since my bank stopped taking loose.count to count, I think I have the entire US coin supply on my dresser and in cups in my office.
Click to expand...
I'm with ya... been banking coins for a while now.
Chris-380 said:
I don’t use change, I put it in a jug when I get home. It’s not a ton, but probably $500
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Same here... I probably have a couple thousand dollars in coins.

I've been trying to rid the world of pennies for years now. I have one of the 5 gallon water jugs over 3/4 full of pennies.
 
Personally, I hate coins. I don't want them clinking around in my pocket, and I never use them. They go in a jar where they go to die. Really, now days, what can you buy for even a dollar let alone for a bunch of dirty metal. I really think it's time to eliminate coins altogether. It cost more to mint them then they are worth.
 
ENstig8or said:
Personally, I hate coins. I don't want them clinking around in my pocket, and I never use them.
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The problem I see with eliminating coins altogether is that when you make a purchase and have to pay sales tax on it, the change in my pocket (or in the car's center console) comes in handy.

It wouldn't bother me too much to get rid of pennies. Nickels I'm not sure about but I could get used to it if they stopped making nickels.
 
Little Ducky said:
If you really want to confuse the young use a $2 bill and watch their head explode. ;)
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A few months ago I used a $2 bill at McDonald’s and they thought it was counterfeit. Had to get a manager to tell the employee it was real cash.

had the same thing happen at Walmart with half dollars. Lady thought they were quarters and I had to fight with her to even read what the coin says. The manager asked me not to pay with half dollars anymore. What a joke.
 
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