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With this coin shortage that I keep hearing about do you suppose anybody would be willing to pay more than face value? I told up my rolled coinage today, and it's a shade over $500.

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There ain't no coin shortage! If anything, early in the year because people weren't getting out and transacting bidness, there was a hitch in "the flow". Of course I suppose some people would really like to make ours a cashless country, makes purchases easier to track and control.  Oops, my paranoia is showing.....:P

Just because I'm paranoid doesn't mean they're NOT after me.......:FlagAm:

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5 minutes ago, Dubious Don #56333 said:

Just because I'm paranoid doesn't mean they're NOT after me.......:FlagAm:


Black helicopters, they do exist and they are up to no good 

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The coin shortage happened because businesses panicked and hit the bank branches for coins for change that they normally didn't carry. Our branch always kept extra on hand so our businesses were okay, but those that normally didn't carry enough got caught short.

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Not coin shortage, but lack of common sense      GW

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Went through a Dunkin Donuts drive through a while back and when the cashier gave me my change she neglected to give me my coin change and said that because of the coin shortage they weren’t giving out coins in change. I told her that I wanted the rest of my change and she said they couldn’t do it so I shut the engine off and told her that I wasn’t moving until I got my change. I got my change.

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I've only been to two stores that only ASK if you can pay by CC or exact change. They don't demand it.

I have about $60.00 rolled up right now, I wait until it's $100 and bring it to the bank. I don't think there's any shortage at all!

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The grocery store won’t give coins in change. They say they’ll apply it to your store card. Of course if you don’t have a store card they have no choice and have to give you the change.

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I have lots of spare change in the truck ashtray.   I usually pay with exact change when at the drive-thru.  That way I get rid of the pennies, nickels and dimes.  The quarters I can use at the carwash.

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On 12/21/2020 at 9:10 PM, Alpo said:

With this coin shortage that I keep hearing about do you suppose anybody would be willing to pay more than face value? I told up my rolled coinage today, and it's a shade over $500.

Ocean State Job Lot had quite a deal going on, maybe still do. You could take in change and they would issue you a gift card of sorts with a 40% additional funds to be used at a later time. We traded in $400 in change and received the $160 extra on the card. Only had to leave and come back in to use it. Ya can't beat 40% interest for just rolling up some coins!

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Just FYI for counting and rolling pennies. It is about a minimum wage activity.

 

I roll my coins and deposit them in the bank every now and then, maybe every couple years. Just to get rid of them as the container fills up. Rarely totals anywhere close to $100.

 

What happened this year is more people used plastic to pay rather than handle cash, and many business shut down, particularly businesses like restaurants which handle a lot of cash.

 

Wait, that sounds like neither should cause a shortage... Well, that's the thing, there really isn't an actual shortage, there is a reduced amount of cash in circulation. Cash in my wallet lasts much longer than it used to even though my spending total has not really changed.

 

What has changed is the rate of circulation, how often each piece of money (paper or coin) changes hands. That slowed, so more coin is sitting in jars or car cup holders rather than going back and forth between people. There is a lack of available coin for making change even though there is no actual shortage of coin.

 

Surprisingly, there is no sign of any (significant) intentional hoarding, but my coin bin weighs a couple pounds and it isn't circulating. Just weighed my bin, it is a little over 3 pounds and only half full. Since my use of cash has slowed, it is not filling as fast. So it isn't circulating as fast.

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