National Coin Shortage Update

My bank doesn't accept lose or rolled change. So when I anticipate on
going to a restaurant where a tip is expected, I put $5 of loose assorted
change in to a small zip-lock and the server gets that. When I go thru
a drive thru, I try to round the change to the nearest quarter. That way
I get back just quarters. I have jars full of them.

 

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One of my bank tellers had told me that the shortage is also due to the lack of employees rolling and packaging the coins at the centers.

 

I didn't know the bank would let you use their coinstar FREE if you deposit all in the bank. (doesn't matter the amount) Walmart coinstar they get 10%. I would have lost over $40.00

 

Part of the problem was mentioned above, when the pandemic started and "experts" vacillated between the virus being on surfaces, people stopped handling cash and coins. Then there is the fact that while businesses complain of being short on change, they refuse to take personally rolled coins.

 

At Wells Fargo and Brinks the rolling of coinage is done by machine. Maybe boxing up the rolls is done manually, but the wrapping of coinage is done by machines. Coinstar has sorting machines from what I've heard.

 

good point. Most here preferred credit cards and they'd push out a basket on a stick (literally) to get the card and give it back. Funny now I think back.

 

C-store clerks hate it when you count out change. Sometimes I count out 2 or 3 dollars worth just to tick em off.

 

See, he's been called out and admits he is a hoarder of his "found" coins!

 

I've turned around and walked out in situations like you describe, but in addition I leave a negative Yelp review.

 

Coinstar is free if you take your money in the form of an eGift card... Choose an eGift Card to get free coin counting at Coinstar

 

They can buy the beaver 96 change he bought. For a reasonable dealer markup, of course. Capitalism works both ways.

 

One of the grocery stores near me put a sign on the Coinstar machine offering to buy rolled change at full value so they could make change on purchases. Not sure how Coinstar would feel about the store siphoning off some of their largesse...

 

Understand I don't CRH, so may have a different/limited perspective, but...no shortage here in rural IN that I'm aware of...no signs or restrictions, etc. Have carried/used little cash for several years since I retired in 2015, and really haven't noticed a difference with the pandemic...other than just not getting out as much. Have liked and adjusted to the debit card long before that, and with not needing to visit my bank for cash...a bit out of way...plus all income is direct-deposited so no need to go. On that, when many if not most bank's ATM machines started imposing a min $20 WD amount from their machines, that turned me off more than anything. If I had cash/more cash, I tended to spend more and/or faster. Used to WD in $5 or $10 amounts if/when needed but no can do anymore and have adjusted not to need it much. If I do need cash for something, I usually take cash back from a grocery or other routine purchase.

 

No shortage here people just are not getting change from the banks etc and there overstuffed but can't move!!!.Recently it seems all I get are new coins basically from my banks especially boxes.

 

i try to pay cash for every small transaction when possible.I would hate to see a cashless society in my lifetime.I think it'll hurt our hobby if this happens.also i love looking through my change to see what will pop up.furthermore,i don't want every transaction i make to be monitored,or taxed.

 

My wife and I use our VISA Credit card. Being an accountant (retired), I have access to my bank accounts on my computer and I can see what transactions there were in the VISA Account. I use an Excel spreadsheet to record all cash and credit card transactions each day. My wife loves using the credit card. I really don't care. I do like getting gas with my VISA because then I don't have to go in the store. I do get a little miffed when I see a $2.53 charge, but it's as easy to record that as it is for my purchase of a gold coin.

 

My spare change is dumped in a storage container that counts it. When full it gets dumped in a bag. Then the container gets filled again. Then dumped in the bag again. It's my version of rounding up like Acorn works but I usually cash it all in to use at a coin show. I usually cash it in once a year. That's the extent of my hoarding. I've been receiving a lot of 2021 change from both mints. Fresh out of rolls. Even though I have a PF70 clad and silver of the Washington and a 5 oz puck of the Tuskegee and the 2021 silver proof set, I still couldn't help but save some of those fresh new Washingtons this year. I've got some nearly flawless ones in change.

Edit: I will add that I still prefer using cash. I'm 50/50 cash or card at the grocery store. If I go in a gas station for a small purchase I don't want to fiddle with the card machine. To me it's a lot easier giving them the cash and getting change. Not every purchase in life needs to be documented and tracked.

 

About 20 years ago, my brother and I were playing golf with one of his buddies who bragged ad nauseum throughout the round how he never carried cash and kept meticulous records of all his expenditures through his CC records.

After the round we go to a TGIF for a beer and a sandwich and it turns out his CC isn't accepted for whatever reason, I don't remember, so he had to borrow 20 bucks from me. The richness of it made up for the fact that the guy never paid me back. Plus, I never saw him again. A double-plus.

I never leave the house without at least 200 dollars in cash on me and I try to do all the usual day-to-day transactions in cash, except gas and that's just because it's such a pain to go into the store.

 

I had a guy buy a three cent stamp, just one and he paid with a credit card. He stated he carried no cash and hasn’t used cash for years.

 

Geez! Where do you live so I can get out my old mugging costume. I sure could use $200. That ain't the truth. I had to quit mugging because my heart couldn't take the excitement. Best of luck.