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Coin Shortage? #6939676
07/23/20 11:37 AM
07/23/20 11:37 AM
Joined: Dec 2006
Posts: 15,697
MN, Land of 10,000 Lakes
T
Trapper7 Offline OP
trapper
Trapper7  Offline OP
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T

Joined: Dec 2006
Posts: 15,697
MN, Land of 10,000 Lakes
In our area, some banks and a local casino are looking for large amounts of coins. They will even pay interest if you bring some in.
Anybody know why the are looking for coins?


We are told not to judge all Muslims by the actions of a few lunatics, but are told to judge all gunowners by the actions of a few.
Re: Coin Shortage? [Re: Trapper7] #6939677
07/23/20 11:38 AM
07/23/20 11:38 AM
Joined: Oct 2009
Posts: 6,408
east central WI
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k snow Offline
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k snow  Offline
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Joined: Oct 2009
Posts: 6,408
east central WI
Because coins have been out of circulation with the "lockdown."

Re: Coin Shortage? [Re: Trapper7] #6939683
07/23/20 11:42 AM
07/23/20 11:42 AM
Joined: Sep 2013
Posts: 18,561
Green County Wisconsin
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GREENCOUNTYPETE Offline
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GREENCOUNTYPETE  Offline
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Joined: Sep 2013
Posts: 18,561
Green County Wisconsin
Community state Bank in Union Grove WI made the news recently.

they are paying 5 dollars on every hundred in change you bring in.

bring it in in a bucket or bag they run it through the sorter and it tallies up the total they pay 5 dollars on every 100.

I am sure they are passing the 5% on to stores that need coin rolls but it is doing something to solve the problem.


America only has one issue, we have a Responsibility crisis and everything else stems from it.
Re: Coin Shortage? [Re: Trapper7] #6940196
07/23/20 07:53 PM
07/23/20 07:53 PM
Joined: May 2010
Posts: 10,472
mn north of blakely
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Steven 49er Offline
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Steven 49er  Offline
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Joined: May 2010
Posts: 10,472
mn north of blakely
T7 there are a few reasons why, the US mints aren't producing to capacity, coin processing facilities like Brinks or Dunbar aren't running to capacity, stay at home orders have slowed foot traffic at coin star locations, and banks aren't really open taking loose change.

Pete, there was a time when I was serious about trying to assemble a set of a couple different coins through circulated change I'd routinely go through a quarter million dollars worth of change a year. At 5 percent return fee could have made out ok lol.


"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
Re: Coin Shortage? [Re: Trapper7] #6940233
07/23/20 08:25 PM
07/23/20 08:25 PM
Joined: May 2009
Posts: 3,010
ohio
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tomahawker Offline
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tomahawker  Offline
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Joined: May 2009
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ohio
I got most of em. In giant pickle jars. I’m going to bury them and leave a treasure map behind.

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