CHAT Thoughts about coin shortage
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psychgirl
Has No Life - Lives on TB
The problem is, they won’t give them to you anyway from the sounds of it.
I’ve seen signs in stores here to either have exact change or use a card. I may not have read every comment on the coin threads, but I don’t think banks are giving them out.
West
Senior
On one hand and as a coin collector (I'm biased) the system wants you to cash your change in. This is not a real crises it's the plan. Because real coin, even clad is a liability for the bankers/government etc.
For when we do go cashless, clad coins will hold value better than what ever digit system they currently have or will have.
On the other hand, I will get stuck with hundreds and hundreds of clad dollars worth of expensive washers and or bags full of change that I can use to put around my bunker and use as a shield from incoming fire. Or as counter weights for rope traps...the possibilities are endless.
For when we do go cashless, clad coins will hold value better than what ever digit system they currently have or will have.
On the other hand, I will get stuck with hundreds and hundreds of clad dollars worth of expensive washers and or bags full of change that I can use to put around my bunker and use as a shield from incoming fire. Or as counter weights for rope traps...the possibilities are endless.
abby normal
insert appropriate adjective here
While out grocery shopping yesterday I ran into this issue. I prefer to pay cash whenever possible, luckily I keep a hefty change purse in my handbag. Adds extra weight in case I have to do some whacking.
I don't understand, if there is a coin shortage due to less circulation and production, why aren't FRNs also affected? Someone smarter than me please explain.
I don't understand, if there is a coin shortage due to less circulation and production, why aren't FRNs also affected? Someone smarter than me please explain.
Samuel Adams
Has No Life - Lives on TB
Planned, quiet bank holiday and currency elimination.
Planned.
Just like the Covid.
Nothing will make real sense unless you read what is written extensively between the lines.
intowolves
Veteran Member
My friend works at a bank and says that they just aren't getting any change/coins and that there's really no reasons being given yet. The shortage does seem real
Bones
Living On A Prayer
My little bank told me they're inundated with coins. Board of Directors edict has them sitting on the change as people spook about debit card only purchasing.
They cash in the coinage, and load their debit account.
The thinking at the little bank level is there will probably be a mandate from the fed to turn it all in at some point in the near future.
They cash in the coinage, and load their debit account.
The thinking at the little bank level is there will probably be a mandate from the fed to turn it all in at some point in the near future.
bobby.knight
Senior Member
From what I have read from various reports: The plan appears to be the elimination of all coinage and round up to the next dollar for cash transactions.
They have already eliminated the use of 50's and 100's in the retail world due to the fake bills.
Then begin the elimination of ones and fives.
They want to remove the cash is separate steps and go cashless.
If I ran the banking system that's exactly what I would do.
It's directing the herd to the correct pasture.
They have already eliminated the use of 50's and 100's in the retail world due to the fake bills.
Then begin the elimination of ones and fives.
They want to remove the cash is separate steps and go cashless.
If I ran the banking system that's exactly what I would do.
It's directing the herd to the correct pasture.
Sneaker 11
RECONDO
A little anecdotal information.......my DW is the Vacation Bible School director at our church. We always do a penny offering during the week. Planning for the upcoming event it was discovered that our bank cannot provide pennies as they have since before I was there, so we had to go with nickels. ???
11
11
To-late
Membership Revoked
This causes people to think about the money hidden in their safes. If the country goes cashless what will become of the stowed away cash? Is it now valueless?
No one seem to know where the coins went. So how come no one knows?
As usuall it seems like a plot, a conspiracy or a trick the government is playing on the people.
My bank now has locked doors. You can get in with an appointment only.
I went to the bank not knowing the above info. Prior to the covid panic my bank had installed ' buzz to get in ' door locks. I was never given a reason why.
So one day I head to the bank to make a deposit. I walk to the door, ring the buzzer. After, what seemed a longer than normal response time, a voice comes on the intercom.
They ask, do you have an appointment?
Confused,, I ask for what? Then the voice says, "we are only doing business by appointment."
I said no, then they said, " you can get an appointment by calling the number on the door."
I said. I want to make a cash deposit. They said, " you can do that at the machine by the door."
So I went to the machine and learned how to give my money to the bank by using a machine.
WTF is happening to our world?
Is it one that counts bills and gives an accurate receipt?
20Gauge
TB Fanatic
They are. We are seeing some of the effects locally now. We seem to be running out of 1s and 5s locally.
20Gauge
TB Fanatic
I would challenge the eliminated the 50s and 100s, we use them all the time as we pay cash. Now they are checking and double checking the bills for sure, but they are still accepting them.
20Gauge
TB Fanatic
I haven't been able to do that for nearly 20 years. Once I got divorced, it just didn't seem as much fun as it once was. I still hold onto the odd thing here and there as well as any silver I get.
To-late
Membership Revoked
That would certainly set one to thinking about things. I would like to know too.
To-late
Membership Revoked
I suppose. Yes it did count them I guess.
I only put two bills in the machine, and the receipt was accurate. I suppose I'll find out about accuracy as I make more deposits in the future.
pymaf
Senior Member
I made this comment on another posting but I think they are wanting to go to a cashless society so they can track all purchases and tax tax tax. It would not surprise me at some point that the gov. makes coins and later all bills illegal due to possible spread of Covid 19 and want them all turned in. If I had any 90% silver coins, they would expect those to be turned in also at face value.
I looked it up. There is $3,818,300,000 in coin out there.
There are 320,000,000 people in the US including children.
That means there is about $12 in change for every person in the country.
The average family of 3.5 - $42 in change
And people simply believe they are having trouble distributing coins.
Ya'll need to get a better water filter - cause that is some powerful hallucinogen they are putting in the water supply
There are 320,000,000 people in the US including children.
That means there is about $12 in change for every person in the country.
The average family of 3.5 - $42 in change
And people simply believe they are having trouble distributing coins.
Ya'll need to get a better water filter - cause that is some powerful hallucinogen they are putting in the water supply
The best methodology for manipulating a situation is to take a real event and mold it to suit your desired effect.
Is there some shortage of coins? Probably
Who knows how bad it really is.
Is there some shortage of coins? Probably
Who knows how bad it really is.
$3,818,300,000 in coin out there.
3.8 billion in coin versus God only knows how many TRILLIONS in digidollars on the books. Hell, that's no problem at all. (snark) And only 5% max of those digidollars available as currency. Shoot, no problemo, right?
Folks, they are FORCING cashless without saying anything about it.
3.8 billion in coin versus God only knows how many TRILLIONS in digidollars on the books. Hell, that's no problem at all. (snark) And only 5% max of those digidollars available as currency. Shoot, no problemo, right?
Folks, they are FORCING cashless without saying anything about it.
Why would you? That's the question you need to ask yourself. I would think the opposite is true. Hold on to coins if you insist on paying "cash."
Coins are made by the US Mint. FRNs are made by the Federal Reserve. Different organizations.
Everyone who gives it even a moment's thought knows where they went. Two words:
Toilet paper
Got it now?
It would need tax figured in.
With the resent break on the lock downs in every state there is no reason for this shortage as coins can be counted and rerolled at the same time for redistribution and this normally happens rather quickly.
So there must be more to whats happening and their not telling us about it.
So there must be more to whats happening and their not telling us about it.
abby normal
insert appropriate adjective here
Yup, and whatever it is you can bet it's NOT good
Simple. Presently, paper is still spendable. If I need to buy something for a few hundred dollars, I'd rather not pay with rolled quarters, dimes and nickels.
If all you have is coins, you have far greater financial issues than "buying something for a few hundred dollars."
Just sayin.
Just sayin.
jazzy
Advocate Discernment
i also think this coins shortage is a con, they dont magically disappear, the mint is not releasing coins , they and others are hoarding them for their own reasons. maybe to push cashless on us as suggested, that seems logical. maybe hoarding because paper is aobut to be greatly devalued and coins historically keep their face value.
you got a $10 bill and $10 in coins, the bill can be devalued to $1 but the coins are still $10 face. this has happened several times with other nations. kind of silly to think it cannever happen here.
seems to me if coins are disappearing, being purposely removed from circulation - SOMEONE is wanting them and wanting US to Not have them so maybe ill just keep mine and see what happens. who knows how they may come in handy some day.
i reckon the younger generation will be fine with no coins or money being used, everything is just swiped. anyone remember that Visa commercial sometimeback of all these people in some coffee shop dancing around moving like some perfect stream of motion using a card to pay for their order til one guy comes to the counter and wanted to pay cash and it stops everything and everyone? made him look like a dinosaur who interrupted the flow of business.
i laughed back then and thought it was funny. its not funny any more. but to the younger generation 40s and down, its their life, pay with phone, swipe this or that, its just normal for them. that was the plan for years and i guess now we are at the tipping point of shoving it on all of us.
sometimes i think we need a good old fashioned emp to take us back a hundred years or so and free us from the techno-gods. brings on a whole slew of new problems and dangers but life without being chained to facebook, phones, computers, twitter and texting might not be so bad for mankind.
you got a $10 bill and $10 in coins, the bill can be devalued to $1 but the coins are still $10 face. this has happened several times with other nations. kind of silly to think it cannever happen here.
seems to me if coins are disappearing, being purposely removed from circulation - SOMEONE is wanting them and wanting US to Not have them so maybe ill just keep mine and see what happens. who knows how they may come in handy some day.
i reckon the younger generation will be fine with no coins or money being used, everything is just swiped. anyone remember that Visa commercial sometimeback of all these people in some coffee shop dancing around moving like some perfect stream of motion using a card to pay for their order til one guy comes to the counter and wanted to pay cash and it stops everything and everyone? made him look like a dinosaur who interrupted the flow of business.
i laughed back then and thought it was funny. its not funny any more. but to the younger generation 40s and down, its their life, pay with phone, swipe this or that, its just normal for them. that was the plan for years and i guess now we are at the tipping point of shoving it on all of us.
sometimes i think we need a good old fashioned emp to take us back a hundred years or so and free us from the techno-gods. brings on a whole slew of new problems and dangers but life without being chained to facebook, phones, computers, twitter and texting might not be so bad for mankind.
Samuel Adams
Has No Life - Lives on TB
Sure do.
Never tried wiping with a quarter.....
Does it really work ?
Think I’d rather start with an Eisenhower dollar until I get the hang of it.
Think toilet paper.
I guess I have to spell it out. Here you go:
1) People heard there's an impending shortage.
2) People stop giving out coins for purchases.
3) People start hoarding coins.
4) The Mint is unable to replenish the supply (which like everything else JIT in this country, production vs. supply is carefully managed and can't be ramped-up in a day.)
5) Result: INSTANT toilet paper, er, coin, shortage.
To not understand this is to not understand human nature.