Featured Money in a Time of Germs

Discussion in 'Coin Chat' started by kaparthy, Mar 26, 2020.

  1. kaparthy

    kaparthy Supporter! Supporter

    In the late 19th century and early 20th, once the germ theory of disease was accepted, hotels would wash your money for you.

    When the incuse design for the $2.50 and $5 gold coins was released in 1908, there was fear that the recesses would harbor dirt and germs.
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    This week's E-Sylum carried two stories about money in the present context of the Covid-19 pandemic.
    A Bank in Midtown Is Cleaned Out of $100 Bills
    This March 14, 2020 New York Times article showed the panic setting in as moneyed people stocked up on cash. -Editor

    As the stock market was having its worst day in 30 years on Thursday, customers at a Bank of America branch in Midtown Manhattan, the financial heart of New York, were lining up to take cash out of their accounts — sometimes tens of thousands of dollars at a time.

    So many people sought huge sums that the bank branch, at 52nd Street and Park Avenue, temporarily ran out of $100 bills to fulfill large withdrawals, according to three people familiar with the branch's operations. The shortage hit after a rash of requests for as much as $50,000, said two people who witnessed the rush.

    The problem was limited to large bills — the bank's A.T.M.s stayed stocked and customers with routine transactions were still able to take out cash. By Friday morning, the bank had refilled its supply of big bills, two of the people said.

    But the desire for cash persisted: A teller at a JPMorgan Chase branch across the street said on Friday that there had been a "nonstop" stream of customers stockpiling cash over the past two days.

    To read the complete article, see:
    A Bank in Midtown Is Cleaned Out of $100 Bills (https://www.nytimes.com/2020/03/14/business/coronavirus-cash-shortage-bank.html)

    Paper Money Shunned For Fear of Virus
    San Francisco Cashless Stores
    In a world suffering a pandemic, cash is no longer king.
    A growing number of businesses and individuals worldwide have stopped using banknotes in fear that physical currency, handled by tens of thousands of people over their useful life, could be a vector for the spreading coronavirus.

    Public officials and health experts have said that the risk of transferring the virus person-to-person through the use of banknotes is small. But that has not stopped businesses from refusing to accept currency and some countries from urging their citizens to stop using banknotes altogether.

    To read the complete article, see:
    Filthy lucre: Paper money shunned for fear of virus spread (https://apnews.com/167186097f44116220b757abebb49be3)
    ------------------------------

    The E-Sylum is the weekly news list from the Numismatic Bibliomania Society. Their quarterly journal is The Asylum. Only a few hundred people pay their dues to belong to NBS and receive the journal, but 6,085 people get the E-Sylum, which is sent out free.
    You can read the archives at the NBS site here
    https://www.coinbooks.org/club_nbs_esylum_archive.html
    and decide for yourself if you want it in your In Box.
     
    George McClellan likes this.
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  3. J.T. Parker

    J.T. Parker Well-Known Member

    I might be overly cautious, but anytime I handle cash/bills, I wash my hands as soon as possible.
    J.T.
     
    harrync and Heavymetal like this.
  4. Brian Calvert

    Brian Calvert Active Member

    Irony that when it was Silver and Gold coins it was MONEY. Today, we say money but it is nothing but Fiat Currency which one day be worthless ! You can argue it, but if you are not paying attention to the VAST printing going on you may be clueless to the demise. Thank a Central Banker. If it isnt back by something of value it becomes worthless. Our Gov't is not a VALUE !

    Good luck to all
     
  5. -jeffB

    -jeffB Greshams LEO Supporter

    It's been "becoming worthless" since 1973. Still makes for very expensive toilet paper, even in the current circumstances.
     
    harrync, Mainebill and Gilbert like this.
  6. Gilbert

    Gilbert Part time collector Supporter

    Drove from Florida to Maine last week, stopping at motels in NC, PA & NH. Cash was not accepted in PA or NH. Credit cards only.
     
  7. Lev99

    Lev99 New Member

    Not worried so much about lack of cash in banks. They apparently have no problems printing at full speed.

    They can go to electronic payments all they want, but it’ll never fully work. When you need to hide things from your preachy neighbor or wife (or husband), there will always be demand for good money.

    Best the gov learns fast that silver has antibacterial properties. Start minting it again, stop the virus. :D
     
    xCoin-Hoarder'92x likes this.
  8. -jeffB

    -jeffB Greshams LEO Supporter

    Just a shame that viruses aren't bacteria.
     
  9. hotwheelsearl

    hotwheelsearl Well-Known Member

    I sincerely doubt that a bank run is going to happen again. Last time was like 1933 and then FDR abolished private ownership of gold

    Over 80 years I think they’ve developed some safeguards
     
  10. -jeffB

    -jeffB Greshams LEO Supporter

    I saw a news story yesterday about a "run" (more of a fast stroll) on the banks in NYC. A couple of branches ran out of $100s, but were restocked later in the day. If any banks are getting anywhere close to insolvent, they're doing a good job of hiding it.
     
  11. kaparthy

    kaparthy Supporter! Supporter

    Actually, it goes back much further than that, but I will reply fully in a different topic. Give me about an hour; then look for "$2.2 Trilliion Inflation" under General Discussion. It is a "numismatic" topic for sure, but far too likely to involve sideline thoughts and opinions.
     
  12. Conder101

    Conder101 Numismatist

    It happens. 560 banks have failed since 2000. Five failed last year, one has failed so far this year. None failed in 2018, 8 in 2018, 5 in 2016 etc.
     
  13. penniesonly

    penniesonly New Member

    Anytime I've been looking at coins, I wash my hands afterwards. Always have.
     
    Jeffjay likes this.
  14. OCPadrino

    OCPadrino New Member

    Relax. Even lepers don't burn their money.
     
  15. Collecting Nut

    Collecting Nut Borderline Hoarder

    Dollar bills are not made of paper. No trees are used in making paper money.
     
    George Bryan Sparlin likes this.
  16. Joshua Lemons

    Joshua Lemons Active Member

    Probably best. I frequent bingo Halls and I know of several ladies that keep their money in their bras. I also worked in retail for a few years and people were always handing over sweaty money, ugh.
     
  17. UncleScroge

    UncleScroge Active Member

    Just put all your spending currency in a pillow case and wash it in the washing machine. It comes out nice and clean.
     
    Mainebill likes this.
  18. OCPadrino

    OCPadrino New Member

    Then iron it.
     
    UncleScroge likes this.
  19. Mainebill

    Mainebill Wild Bill

    That’s illegal money laundering lol
     
  20. John Skelton

    John Skelton Morgan man!

    Wait, you mean all that antibacterial hand sanitizer isn't killing the virus? Always wondered about that.
     
  21. -jeffB

    -jeffB Greshams LEO Supporter

    Hand sanitizer will, because it's alcohol-based, and alcohol breaks viruses as well as bacteria. Not sure about silver. Great, another rabbit-hole to explore instead of doing work... :rolleyes:
     
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