U.S. Mint PSA Urges Coin Redemptions

Discussion in 'Coin Chat' started by yakpoo, Aug 6, 2020.

  1. yakpoo

    yakpoo Member

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  3. yakpoo

    yakpoo Member

  4. medoraman

    medoraman Supporter! Supporter

    Did my part. Emptied the change jar for $340 the other day. I do have a few bags of cents if they want me to turn those in. The bags of wheats and of course the silver is staying in the safe. :)
     
    yakpoo likes this.
  5. yakpoo

    yakpoo Member

    I ordered the 2020 AGE four (4) coin set just seven (7) days ago. Gold has risen $100/Oz already and my set hasn't even shipped! That takes a little of the sting out of the $1200 premium! :banghead:
     
    Randy Abercrombie likes this.
  6. furryfrog02

    furryfrog02 Well-Known Member

    I'd love to get my coins in the basement back into circulation. I can't get to an open coin counter though. All my banks' lobbies are closed.
     
    Randy Abercrombie and Beardigger like this.
  7. tibor

    tibor Well-Known Member

    There is a "shortage" in my area, N.E. Tenn. The banks and CU's that I deal
    with have their lobbies closed. They don't accept coins rolled or loose even
    thru the drive thru window. Fast food places will only accept exact change,
    nothing more, loose or rolled. I'll keep my change until things change, about
    $40+ in cents, nickels and dimes. The Wal-Marts in the area accept loose coinage
    at the self checkouts. Chuck it in coin at a time, then finish with CC or cash.
    No change back.
     
  8. Beardigger

    Beardigger Well-Known Member

    They need to ask the banks to allow people into lobby to use coin counters. The minute they do that I will be there with $2000 worth to help out.
     
    furryfrog02 likes this.
  9. Collecting Nut

    Collecting Nut Borderline Hoarder

    My bank accepts customer wrapped rolled coins. I just call to schedule an appointment. When I arrive at the bank I call again and they let me in. No problems with change.
     
  10. Bambam8778

    Bambam8778 Well-Known Member

    I imagine some of the banks will open up for change redemption now that things are getting to this point.
     
  11. CoinCorgi

    CoinCorgi Derp, derp, derp!

    Why do you guys have so much loose change lying around? I spend my change.
     
  12. furryfrog02

    furryfrog02 Well-Known Member

    I get it from CRH. Been getting one or te boxes of cents a week through this whole quarantine. I have enough cents that I could melt them down, make them into pipes, and redo my whole house with copper piping lol.
     
    Randy Abercrombie and CoinCorgi like this.
  13. charlie123

    charlie123 Well-Known Member

    Think of all the drywall patching you'll have to do.
     
    Collecting Nut likes this.
  14. furryfrog02

    furryfrog02 Well-Known Member

    good point. I hate doing drywall.
     
  15. Robert Ransom

    Robert Ransom Well-Known Member

    Just a few generalities (my opinion) concerning the coin shortage. January, no issues with coin shortages. February, no coin issues that I recall. March, stores wanting credit/debit card purchasing rather than cash because of pandemic. Banks began limiting transactions to drive-thru. April, big problem because people are not using coins for purchases and stores still prefer credit/debit cards as payment. Banks closed, no coins added to general circulation. May, Banks closed, CC/DC transactions continued. June, same. July, some opening of banks with social distancing. CC/DC transactions continue with some cash taken as payment.
    These are my observations in my corner of the world and may not reflect national conditions. I heard some establishments refused cash because they could not give change. This leads to the question, where are all the coins supposedly in circulation?
    One has to differentiate between coins available for circulation and coins actually in possession of the public.
    https://www.cato.org/blog/where-have-all-coins-gone
    It seems the public is to blame for some of the shortage of coins because of the ('gazillions?) coins stored in their piggy banks and unwillingness to cash them in at banks which are closed. Wrong, in my opinion the root cause of the coin shortage is the unwillingness of the public to carry change. I never do and most men I know rarely carry change in their pockets. Most women I know usually open the change purse attached in their wallet and offer the correct change. I asked my wife why she offers change on a transaction and her response was, "To lighten the load of carrying the accumulated coins. When the change purse becomes too full, I dump most of it into small cosmetic bags, but save some to offer change at the stores." I suspect men are the real cause of the shortage because when I phoned ten of my buddies and asked them if they carry change, they all said no. When I asked if they knew of anyone who did carry change, they said no, again. I realize this was an insignificant sample size, but I think it warrants consideration.
     
  16. CoinCorgi

    CoinCorgi Derp, derp, derp!

    Maybe the gubmint should outlaw hoarding and CRH'ing?

    ;) lol
     
    green18 and Robert Ransom like this.
  17. yakpoo

    yakpoo Member

    If people don't have bank accounts, credit cards, or jobs, why not just round in their favor and let it go? Do we really need Government to tell us how to be nice. :)

    Btw, what happened to all those Presidential Dollar coins?
     
    Mr. Flute likes this.
  18. furryfrog02

    furryfrog02 Well-Known Member

    You shut your dirty mouth...
    Sorting through a box of coins is my zen. You don't want to see me when I don't have my zen. :mad::punch::rage:
     
  19. CoinCorgi

    CoinCorgi Derp, derp, derp!

    Further more...they will crash through your walls to confiscate your hoard. You know what that means? More drywalling for you to do!!! :rage:
     
  20. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    Dangit...... Now I gotta give those back too?
     
    yakpoo likes this.
  21. Beardigger

    Beardigger Well-Known Member

    I'm kind of in the same boat as Furryfrog. But I don't mind re rolling any quarters I might search and hand them back in. But CRH for me is pretty much shut down. I did manage to get $45 in quarters from the Laundromat change machine last night. I re rolled them and sold them to my bank who was happy to get them. Banks here are limiting roll sales.... 5 rolls of quarters to businesses and 1 roll to customers. None of my banks will even TRY to order boxes for me. I took $3 in rolled pennies to my local speedy mart, and they were happy to get them. I just don't have the time or energy to roll pennies. My banks have no problem accepting rolled change.
    Shortage seems to be mostly quarters and pennies around here. I have over $400 in rolled quarters, but they are my BU rolls of 2019-2020 quarters. I'm not wanting to turn them in.
    Even though I could cut down to 2 rolls of each mint and design....I don't wanna. I have found a lot of State quarters in really good condition, and have saved those too. Don't wanna get rid of them though. I have trouble putting a nice older quarter back in circulation to get ruined!
     
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