Why is there a coin shortage?
#7529774
03/16/22 01:13 PM
03/16/22 01:13 PM
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Joined: Dec 2006
Posts: 21,716 Sandhills Nebraska
Gary Benson
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Maybe this has been brought up but I don't understand it. There is just as much change out there as there was 20 years ago. Yes, some people save change but some also cash it in. With all the plastic cards being used to pay for goods, why a coin shortage now? I saw signs at two stores lately. I don't get it.
Life ain't supposed to be easy.
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Re: Why is there a coin shortage?
[Re: Gary Benson]
#7529786
03/16/22 01:25 PM
03/16/22 01:25 PM
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Joined: Sep 2013
Posts: 18,580 Green County Wisconsin
GREENCOUNTYPETE
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in 2020 is was apparently because all the banks lobbies were closed so places that had change to cash in couldn't
I have no idea why it would be now.
America only has one issue, we have a Responsibility crisis and everything else stems from it.
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Re: Why is there a coin shortage?
[Re: Gary Benson]
#7529816
03/16/22 02:20 PM
03/16/22 02:20 PM
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Joined: Dec 2013
Posts: 14,867 Greene County,Virginia
run
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I honestly didn't know there is still a coin shortage. But thanks for the update. Maybe the Russians are collecting our coins.
Last edited by run; 03/16/22 02:20 PM.
wanna be goat farmer.
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Re: Why is there a coin shortage?
[Re: Gary Benson]
#7530023
03/16/22 06:04 PM
03/16/22 06:04 PM
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Joined: Dec 2006
Posts: 21,716 Sandhills Nebraska
Gary Benson
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I think it's the push to shift everyone to digital so nobody has to handle money, and all transactions can be run thru the Gubmint.
Life ain't supposed to be easy.
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Re: Why is there a coin shortage?
[Re: Gary Benson]
#7530032
03/16/22 06:10 PM
03/16/22 06:10 PM
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Joined: Dec 2006
Posts: 21,042 St. Louis Co, Mo
BigBob
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They all have signs up to bring in your change, but just try to pay your bill with pennies!!
Every kid needs a Dog and a Curmudgeon.
Remember Bowe Bergdahl, the traitor.
Beware! Jill Pudlewski, Ron Oates and Keven Begesse are liars and thiefs!
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Re: Why is there a coin shortage?
[Re: Gary Benson]
#7530106
03/16/22 07:41 PM
03/16/22 07:41 PM
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Joined: May 2009
Posts: 15,653 Champaign County, Ohio.
KeithC
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Lately, the mints have been frequently making less coins, especially pennies.
"2015 9,365,300,000 1,599,600,000 3,041,010,000 2,990,820,000 4,600,000 45,370,000 17,046,700,000 1,273,109,000.00 2016 9,118,400,000 1,546,560,000 2,954,000,000 2,356,030,000 4,200,000 38,220,000 16,017,410,000 1,093,239,500.00 2017 8,634,020,000 1,373,280,000 2,728,000,000 2,116,000,000 4,700,000 3,360,000 14,859,360,000 962,514,200.00 2018 7,478,200,000 1,204,560,000 2,126,000,000 1,742,314,000 10,200,000 3,500,000 12,564,774,000 791,788,500.00 2019 7,040,400,000 1,094,894,400 2,194,000,000 1,651,600,000 3,400,000 2,940,000 11,987,234,400 762,088,720.00 Year 1˘ 5˘ 10˘ 25˘ 50˘ $1 Total coins Value in $ 2020 7,596,400,000 1,623,100,000 2,778,500,000 2,768,000,000 5,700,000 2,660,000 14,774,400,000 1,132,479,000.00 2021 7,908,620,000 1,570,780,000 2,830,250,000 2,632,600,000 13,100,000 2,520,000 14,957,870,000 1,107,870,2"
Keith
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Re: Why is there a coin shortage?
[Re: Gary Benson]
#7530108
03/16/22 07:44 PM
03/16/22 07:44 PM
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Joined: Feb 2007
Posts: 1,192 Goldsboro, NC
John C
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I’ve been told by two store that due to the coin shortage my total would be rounded up to the next dollar. After raising more heck than I probably should have they agreed with me that I should get the correct change if they were unwilling to round down. Miraculously both stores suddenly had plenty of change in the drawer to make my change with. It was amazing.
More Cowbell
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Re: Why is there a coin shortage?
[Re: Gary Benson]
#7530140
03/16/22 08:18 PM
03/16/22 08:18 PM
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Joined: May 2010
Posts: 10,481 mn north of blakely
Steven 49er
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My guess is if there is a true coin shortage would be because the companies that supply coins to businesses are having labor issues as well
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
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Re: Why is there a coin shortage?
[Re: Gary Benson]
#7530152
03/16/22 08:28 PM
03/16/22 08:28 PM
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Posts: 4,038 Alberta,Canada 71
Bushmaster
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I think a big factor is the high percentage use of cards. I recently won $500 on a lottery ticket and the owner told me I'd have to come back mid-afternoon....by then he figured he would have enough cash to pay out. And he commented most of his business is done by cards. Even the use of paper money is way down.
Last edited by Bushmaster; 03/16/22 08:30 PM.
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Re: Why is there a coin shortage?
[Re: Bushmaster]
#7530305
03/16/22 10:23 PM
03/16/22 10:23 PM
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Joined: Dec 2013
Posts: 14,867 Greene County,Virginia
run
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I think a big factor is the high percentage use of cards. I recently won $500 on a lottery ticket and the owner told me I'd have to come back mid-afternoon....by then he figured he would have enough cash to pay out. And he commented most of his business is done by cards. Even the use of paper money is way down. Interesting to hear from a Canadian.
wanna be goat farmer.
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Re: Why is there a coin shortage?
[Re: John C]
#7530310
03/16/22 10:27 PM
03/16/22 10:27 PM
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Joined: Dec 2006
Posts: 21,716 Sandhills Nebraska
Gary Benson
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I’ve been told by two store that due to the coin shortage my total would be rounded up to the next dollar. After raising more heck than I probably should have they agreed with me that I should get the correct change if they were unwilling to round down. Miraculously both stores suddenly had plenty of change in the drawer to make my change with. It was amazing. I was in an airport where a vendor didn't bother with making change. Always to their advantage of course.
Life ain't supposed to be easy.
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