Is there really another a coin shortage

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My whole point would be that if the business doesn't have change then say cards only.
If you accept cash and don't have the correct change then be willing to take the loss, don't short change your customers.

 

I certainly do not remember saying anything that would be considered political. If I did, that was not my intention.

 

Where I'm at in western KY there have been plenty of businesses with please use exact change signs and the like, but I've never encountered them not having enough coins to give change. But I often roll my change collected each month and spend it at the local dollar general. They are always glad to have it and have said several times they were running low on change.

 

A lot of businesses in Chicagoland have signs up about exact change only. Oddly enough, almost all the banks in the area have removed their coin machines and will only accept rolled coins.

 

Here in the Northeast there is a definite coin shortage and it has been going on for over 2 months and counting. Banks have signs up on the teller windows informing customers about it. I asked the head teller about it and she shrugged and said she doesn't know why.

What is going on? With billions of coins in circulation, how in the world can there possibly be a "Coin Shortage"?!

My understanding is that at the beginning of Covid there was what was called a "Coin Shortage" but what it really was, was a Coin Circulation Problem. There were lock downs all over the country, coins were not circulating, so coins were not available. But what's the deal now? There are no lock downs. So, is this really a "Shortage"? Are there hoarders hoarding billions of coins? What is going on???

 

I just went to another bank this morning and asked the head teller what's going on with the coins. He told me that the Federal Reserve is limiting coins due to "Supply Chain Disruptions."

I wonder if there really are problems with the "Supply Chains" for coins now like there are for everything else which is why store shelves are half empty and prices are going through the roof. Or, if it's like you said - only because there are still so many people staying home and so coins are not circulating.

Or, maybe it's a combination of both. I think it's a combination, because the coin shortage stopped for about 6 months.

Whatever the cause, it's disruptive. My nephews are desperate to find Alabama ATB Quarters to finish their quarter collection books and they also want to search for W quarters. But they can't find any of them while I can't get any Quarter rolls for them to search through.

One nephew is trying to fill Penny books, but he can't search Penny rolls now, and another is trying to fill Nickel books but he can't search Nickel rolls now. It's also hard to explain to them what the problem is. The 9 year-old suggested that I try going to a different bank, like the one their parents go to near the park. (His eureka moment.) I told him that I did try going to that bank, but they don't have coin rolls either.

These kids put all this effort into their coin collections, and it has to be put on hold. For the second time. And again it's during the cold months when it would be a perfect thing for us to do and a great activity to keep them occupied.

Their father thanked me for getting them into coin collecting. He's really glad that they are so into it and said it's a good wholesome hobby and beats video games and other unhealthy things like that. They also help each other with what each one is looking for (instead of the usual sibling fighting).

But now it's all on hold. Oh well...

Anyway, thanks for letting me vent....

 

There is not now nor has there ever been a "coin shortage".

I say that to make this point. We all know the mint produces billions of coins each year. If the public would simply either spend the coins they have in pockets and purses OR regularly empty out the buckets of coins holding each days pocketful and take them to coinstar or banks which accept bulk coins. If more American would follow my advice, we'd all be happy!! HAHA>

 

I agree.

Before I got into coin collecting with the kids searching through rolls, I would bring my excess coins to a Coinstar machine at the grocery store as soon as it filled up a certain jar which holds an average of $12 of coins. I needed it to reach $10 because that is the Coinstar minimum for a no-fee Amazon gift certificate. And there was no way I was paying a fee! Before that I would just roll my excess coins myself twice a year.

Now that the kids are involved, we roll the coins together. It's a another part of the activity of searching through rolls.

I just wish people would bring their coins to the banks if they're not using them.

And I wish the Mint would meet the extra demand of the past 2 years and just mint more coins!

 

I really don't understand the problem, as I always have enough cash to give exact change, whether at a "drive through", at a self-service machine, or with a cashier.

However, I virtually never shop where standing in line is necessitated, edited I also don't want to inconvenience/delay a check-out line, counting change.

I believe with the conveniences of modern shopping options, there should virtually never be a problem with
purchasing. Where I live, the only facility is either the internet, an ~hours' trip, or shopping as normal, before the masses arrive.

My debit cards allow exact payment when I'm too rushed, or too lazy to supply exact change.

Then there were the "good old days" when store inventories were limited, a trip to town was after generating a long list of several to be ordered and a long walk pulling a wagon. Those darn stores also only had a single "check-out".

Until recently, after being "on-call" for decades to repair old equipment, where others couldn't be found, although I worked into demand age for a fair wage, I retired @80 YO, never having earned more than $9/hour, part-time. Fortunately I met many wonderful appreciative people, who often tip.

I believe we're fortunate!

JMHO

 

Ive got the same problem but my mate left me the coins, and opted to the folding paper in my wallet.

 

My mate switched to plastic. Lol

 

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And yet there are signs everywhere saying they are hiring. So I don't see how it's reducing available jobs. I went to a Pizza Hut the other day that had dine-in seating, but only after 4pm. No doubt because they didn't have staff. The jobs are out there.

 

Singular Coin is used as the catch-all term for money in the form of the plural, coins.

If the bank said that they had a lot of coin, they mean they have plenty of money in the form of coins. If they said that they have a lot of coins, then that means that have plenty of individual coins.
Effectively the same thing.

 

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Our small local bank does have a coin shortage. Every year I order new coins and bills to celebrate the Chinese New Year. This year they have been told not to expect new bills or coins. I rolled $71.50 dollars from my coin jar and took to the bank. I received 71 dollars in bills and to quarters in change. The one quarter is a bicentennial proof Washington weighing 5.6 so I assume clad and not 40% but I'll keep it.