Just a note about your change jugs. Please do not take them to a coin machine or bank to turn in before you go through them. ANY DIME, QUATER, HALF OR SILVER DOLLAR BEFORE 1965 IS 90% SILVER.I got a buttload in jugs, when I get enough I will cash them in and finally get my night vision.....
Um . . . you know that the Federal Reserve does not make coins. . . right?
They are stamped out by the Mint, a department of the US Treasury.
Why would there be a coin shortage?
Way ahead of ya! I actually got a silver dime about a month ago...Just a note about your change jugs. Please do not take them to a coin machine or bank to turn in before you go through them. ANY DIME, QUATER, HALF OR SILVER DOLLAR BEFORE 1965 IS 90% SILVER.
WHO CARES YOU ASK?
$1.40 in dimes is one oz, $1.50 in quarters is one oz, $1.50 half dollars is one oz.
So for $1.40 in pre 65 dimes you can sell them for $17.84 as of 01:27 6/30/2020.
You can quickly amass a large amount of cash by checking just the date.
Way ahead of ya! I actually got a silver dime about a month ago...
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Awesome. Well then I wish you all the luck in purchasing NVG.
The insurance is related to the risks involved with handling cash.....so their own insurance is higher.....I know funny, but in a lot of cases that is the reason for not handling cash.my local hardware store will not accept cash.. at all.. anymore
my car insurance agent refused to take cash when I signed up
i made such a big stink that she eventually took it
(after she made 3 phone calls)
she told me its because they have to purolator their transactions to head office
so I told her if she distrusts purolator, its not my problem
The insurance is related to the risks involved with handling cash.....so their own insurance is higher.....I know funny, but in a lot of cases that is the reason for not handling cash.
In our case, cash or check is better as we save about 3% in fees.
NW Fl Walmart too.We have the same signs at our grocery here in Arkansas
And it was mid-1982 where the copper content changed.
Because someone there knows not to send them to the bank because they can’t get them back.At the Marriott in OK, I can get rolls of quarters to do my laundry with all day long...
... now days swallowing a “zinc” penny can lead to zinc poisoning.
Nickel’s are the only US coin that has more “metal value” in it than “face value” of the coin.
The video (post #92) confirms this, and, apparently, the US Mint is producing Coin faster than ever before.The US Mint is still making deliveries
I heard this corn shortage crap at a local store. However, I went to my bank later in the day. The bank lady told me they have all the coins you'd ever want in life. They don't have a shortage. So, something more seedy is unfolding here with this coin shortage.I ordered coin for my bank branch last week. We received $141 of the 2700 I ordered. With bank lobbies being closed folks aren't bringing in their jugs of coin to exchange. Same for coin star machines. Coins aren't being circulated.
You are incorrect. The flaw in your premise is that the metal itself has value. These days, it has no more value than paper money. Back when real silver and gold were used for coins, then yes, absolutely. But not today.My thought is that the answer lies in the fact the if the currency is Reset, the Coin will increase in 'value' greatly (compared to the dollar) because it will still have the same Face Value.
Is it [possible] the stores don't want to handle the coins that any number of people have handled before? Yanno, to cut down on the transmission of the bug?
That is not my premise. It is: The coin will still have the same 'Face Value' in fiat currency terms, whereas a dollar will no longer have it's previous marked face value. An 'old' dollar' may now be valued at $0.01 (i.e. 1 new dollar replaces 100 old dollars), but a nickel is still $0.05 in 'new' dollars.The flaw in your premise is that the metal itself has value.
What I said is, in itself, correct. I cannot speak to whether or not coin would be recalled. My view is that it's impractical and unlikely, but who knows. We don't know why the Fed is hoarding it. They could be doing it for themselves because they know that it's impractical to recall coin, or they could be the agent of doing a recall at some point and are getting started early.You're assuming that coinage wouldn't be "recalled" for new issue if FRNs were. I don't agree with that either. But even if true, one could have a million $'s in FRNs in their closet, but NOT a million $'s in coins. You'd need a 10,000 sq ft vault.
P.S. I am merely pointing-out a potential opportunity.
The 'new' fiat will almost certainly still be called 'dollars' and be made to appear to as much like old dollars as they can. That's likely how they will play the game.Suppose all paper money is recalled. The new Currency unit is the "Drachma".
As always.Choose your opportunities wisely.
Agree. We are both making assumptions. Can't be helped.This is your assumption... My position is that they would not.
You said it. That's my point. Individuals would have to decide if the storage is worth the trouble.that is, an amount that you could actually convert and live off of for a considerable period
That's very interesting. Thank you for passing this along. Recalling and re-minting sufficient coin in a reasonable period of time must be a herculean effort and well planned ahead.The vast overwhelming majority of monetary reforms in the world in the 20th century issued both new currency and new coins.