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yellowdogintexas

(22,117 posts)
Sat Jul 4, 2020, 12:29 AM Jul 2020

SO does anyone know what's going on with a coin shortage???

Sprouts had a sign up asking customers to pay with checks or debit cards, because coins are in short supply. Someone else saw one at Lowe's Apparently they are not getting back into circulation from the banks.

23 replies = new reply since forum marked as read
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SO does anyone know what's going on with a coin shortage??? (Original Post) yellowdogintexas Jul 2020 OP
No body has been getting into the banks or coin deposits... Historic NY Jul 2020 #1
same signs up at Meijer's Groceries in Indiana today. Captain Zero Jul 2020 #14
Apparently it is because of the pandemic and reduced circulation of pocket change. cayugafalls Jul 2020 #2
The convenience stores and the liquor store in my neighborhood are happy to accept my rolled change. TexasTowelie Jul 2020 #3
The Federal Reserve is sitting on $1B in dollar coins. roamer65 Jul 2020 #4
It's due to an underlying fear of change. Beakybird Jul 2020 #5
+1 n/t Silent3 Jul 2020 #8
Continentally reserved, now duly noted. nt greyl Jul 2020 #9
Your post makes a lot of cents. TeamPooka Jul 2020 #17
Congress will write a bill to save the penny. Beakybird Jul 2020 #18
My bank which is only open as a drive thru now, had a sign out asking for coin. Laffy Kat Jul 2020 #6
I read a good article about it a couple of days ago. PoindexterOglethorpe Jul 2020 #7
Obviously another heinous part of the 5g cancer campaign run by ANTIFA BamaRefugee Jul 2020 #10
I heard George Soros is hoarding them to safeinOhio Jul 2020 #20
He pays his minions millions, all in coin. BamaRefugee Jul 2020 #22
I only use cash for laundry these days Grokenstein Jul 2020 #11
People don't want to handle paper money, that's for sure, & it's pandemic-related Hekate Jul 2020 #12
don't mean to change the subject, but who is hoarding kitchen sponges?? Grasswire2 Jul 2020 #13
Federal Reserve says nationwide shutdowns have caused coin shortage dalton99a Jul 2020 #15
This message was self-deleted by its author geralmar Jul 2020 #16
I haven't touched cash since mid-March. Straw Man Jul 2020 #19
Safe suggestion.... safeinOhio Jul 2020 #21
my take onethatcares Jul 2020 #23

TexasTowelie

(111,292 posts)
3. The convenience stores and the liquor store in my neighborhood are happy to accept my rolled change.
Sat Jul 4, 2020, 12:34 AM
Jul 2020

The grocery store doesn't accept it because it has a CoinStar machine in the building that charges about 11 percent to convert the change into another form (either paper currency or added to credit cards).

roamer65

(36,739 posts)
4. The Federal Reserve is sitting on $1B in dollar coins.
Sat Jul 4, 2020, 12:39 AM
Jul 2020

Time to release those and direct banks to pay them out.

You can also help by telling cashiers to forget the pennies.

Laffy Kat

(16,354 posts)
6. My bank which is only open as a drive thru now, had a sign out asking for coin.
Sat Jul 4, 2020, 12:53 AM
Jul 2020

I've been taking mine to the Coin Star kiosk at the grocery store and of course that takes a percentage out, so I think I'll start turning the coin to bills at the bank from now on.

PoindexterOglethorpe

(25,746 posts)
7. I read a good article about it a couple of days ago.
Sat Jul 4, 2020, 01:05 AM
Jul 2020

Essentially, people aren't returning coins to circulation as readily as they had been doing before all this. And apparently, despite the fact that some people never carry cash these days, just use a debit or credit card, the amount of coins normally circulation is billions of them.

I personally do a minor hording of coins. I pay for most day-to-day things (groceries, restaurant meals) and whatever coins I get in change I toss into a jar which I bring to the bank perhaps once or twice a year. I get about $125.00 most of the time. I've been doing this for about ten years.

Grokenstein

(5,707 posts)
11. I only use cash for laundry these days
Sat Jul 4, 2020, 01:35 AM
Jul 2020

...and can't figure out why the laundromat doesn't go with a token system, since to hear them tell the tale assholes come drain the change machine every day. But I noticed even my 7-Eleven has a sign out asking folks to use credit/debit cards whenever possible.

Hekate

(90,189 posts)
12. People don't want to handle paper money, that's for sure, & it's pandemic-related
Sat Jul 4, 2020, 01:36 AM
Jul 2020

Coins are in the same category — dirty.

I’ve been paying for things with my credit card and putting it in a special baggie in my purse.

Grasswire2

(13,564 posts)
13. don't mean to change the subject, but who is hoarding kitchen sponges??
Sat Jul 4, 2020, 01:44 AM
Jul 2020

My Kroger has been out for three weeks. NONE on the several shelves that are usually full.

dalton99a

(81,065 posts)
15. Federal Reserve says nationwide shutdowns have caused coin shortage
Sat Jul 4, 2020, 02:26 AM
Jul 2020
https://www.news5cleveland.com/news/continuing-coverage/coronavirus/local-coronavirus-news/federal-reserve-says-nationwide-shutdowns-have-caused-coin-shortage

Federal Reserve says nationwide shutdowns have caused coin shortage
By: Amanda VanAllen
Posted at 10:07 PM, Jul 03, 2020

CLEVELAND — They are running out of cash. Snappy Gas Mart in Cleveland relies on getting coins for change from local banks, but right now that’s not an option.

"It had been about 10 days since the last time we had gotten any currency from them, whether it was paper or change,” said Russ, a manager at Snappy Gas Mart.

The Cleveland gas station is not alone.

The Federal Reserve said this is all happening because of the nationwide shutdown orders.

When bars, restaurants and other businesses were forced to close, that broke up the normal flow of bills and coins.

Response to yellowdogintexas (Original post)

safeinOhio

(32,527 posts)
21. Safe suggestion....
Sat Jul 4, 2020, 05:46 AM
Jul 2020

All tax and prices need to be rounded up or down to the nearest dollar. Every fifty cents in change rounded to zero if under fifty cents and up to a buck if fifty or over. Seems like it would be a wash.

onethatcares

(16,132 posts)
23. my take
Sat Jul 4, 2020, 07:12 AM
Jul 2020

the preppers began hoarding modern coins to use when the system goes down. Since silver and gold haven't been available since 1964 they've collected all the junk metal coins and will be trading them at a premium for groceries and toilet paper when it really gets bad.

Word of warning. DO NOT TRY BITING OFF A SECTION OF A MODERN AMERICAN QUARTER...YOU WILL BREAK A TOOTH


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