The Briefing Room
General Category => Economy/Business => Topic started by: jmyrlefuller on July 08, 2020, 03:32:29 am
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https://www.wgal.com/article/covid-19-causing-national-coin-shortage/33225675 (https://www.wgal.com/article/covid-19-causing-national-coin-shortage/33225675)
Having exact change has never been more important, as stores across the Susquehanna Valley are asking customers to "please use credit cards if possible."
There is a sign at Lowe's, alerting customers that cash is not accepted at one of the registers. Lowe's is not the only store experiencing this shortage; Turkey Hill, Giant, Goodwill and liquor stores in the Susquehanna Valley also say they too are running low on coins.
The U.S. Treasury says the pandemic has significantly disrupted the supply chain and circulation patterns of U.S. coins.
Additionally, the U.S. Mint has been printing fewer coins to protect its employees.
(excerpt)
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https://www.wfmj.com/story/42342071/covid-crisis-reason-for-the-national-coin-shortage (https://www.wfmj.com/story/42342071/covid-crisis-reason-for-the-national-coin-shortage)
"During COVID the banks closed, you couldn't go into the lobbies anymore and you can't push coin rolls through the machines so you can't put them through the drive-thru which interrupted the flow of small currency as in quarters, halves, dimes, nickels, and cents," says Mike Miller, Owner of The Coin Shop of Youngstown.
(excerpt)
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"During COVID the banks closed, you couldn't go into the lobbies anymore
I STILL CAN'T.
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I STILL CAN'T.
Seriously?
You think they're going to let guys in there with masks on?
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Seriously?
You think they're going to let guys in there with masks on?
Nope. Nobody gets to get in or out. The only way I can get at money, is through the drive-thru, for a very short time in the morning, or, I can go to the ATM and pull out $300 at a time in $20 bills. Luckily, I can do all right day to day out of what I bring in. But a good portion of my money comes in via electronic payment for anybody that pays me with a credit card. So all of that I really can't get at
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Nope. Nobody gets to get in or out. The only way I can get at money, is through the drive-thru, for a very short time in the morning, or, I can go to the ATM and pull out $300 at a time in $20 bills. Luckily, I can do all right day to day out of what I bring in. But a good portion of my money comes in via electronic payment for anybody that pays me with a credit card. So all of that I really can't get at
Well, it was that other guy who promised hope and Change...
Thankfully, the local drive throughs are open most of the day.
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A bit of a tangent here but I had a medical check-up yesterday (Doc says there is a reasonable expectation that I will be around awhile longer). Anyway, our conversation drifted to COVID. He says it is the damndest thing because they won't allow anyone in the office who is ill with flu-like symptoms. They treat/diagnose remotely. BTW... he said they are treating about 30 people for the virus.
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Any other numismatics out there wondering what kind of rarities might be generated out there from this?
Got to admit, I am seeing fewer than normal new (2020) coins that you would usually see in a calendar year.
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Well, it was that other guy who promised hope and Change...
Thankfully, the local drive throughs are open most of the day.
So are the local banks and credit unions. I had the misfortune to go the easy way during my divorce... I had a personal account at a nation-wide bank specifically to handle web page income. Since my web page got international scope, it had to handle international income, so a big national bank was what I needed, even though the income from it was never all that... Rather than opening another local account, it was just easier to move my banking (basically electronic payments and little more) into that already existing account.
Believe me, I am fixin to correct that mistake. It s just SUCH a PIA to move those electronic payment routing numbers and all. That ain't gonna go smooth, and that is the only reason I am still there.
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I've been throwing all my change into a large tin container for a couple of years.
The other day, out of curiosity, took it to my local Wegman's. They have a machine that counted $355.36 in less than 30 seconds!!! Still can't figure out how that is accomplished.
Didn't even mind the 12.9% discount when you figure the time to count and get a receipt for cash.
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I STILL CAN'T.
Our bank finally opened the lobby after being closed for several months. You can't get inside to the lobby unless you are wearing a mask. I'm fine with that but when I went to do a cash withdrawal I had to take my mask off my face.
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I've been throwing all my change into a large tin container for a couple of years.
The other day, out of curiosity, took it to my local Wegman's. They have a machine that counted $355.36 in less than 30 seconds!!! Still can't figure out how that is accomplished.
Didn't even mind the 12.9% discount when you figure the time to count and get a receipt for cash.
Yeah, I got an old mixed nuts jug from over to the Costco that sits on top of the freezer in the pantry (where my laundry is too)... every night the pocket change goes in.. I dunno, it's something like 1/2 gallon, so it takes a while. About a year. It's usually around harvest time, and somewhere between $250 and $300... somewhere in there.
It's really dumb... It ain't that much... but it's like found money. That ain't for buyin snow tires, right? It's a proper blow-out for me. Not frittered, not responsibly spent... I shoot the whole wad on a something. Something I WANT, not need.
It's chump change for a dumb little woohoo, but somehow, it always cranks me up. :laugh: :beer:
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Yeah, I got an old mixed nuts jug from over to the Costco that sits on top of the freezer in the pantry (where my laundry is too)... every night the pocket change goes in.. I dunno, it's something like 1/2 gallon, so it takes a while. About a year. It's usually around harvest time, and somewhere between $250 and $300... somewhere in there.
It's really dumb... It ain't that much... but it's like found money. That ain't for buyin snow tires, right? It's a proper blow-out for me. Not frittered, not responsibly spent... I shoot the whole wad on a something. Something I WANT, not need.
It's chump change for a dumb little woohoo, but somehow, it always cranks me up. :laugh: :beer:
@roamer_1
It's good clean fun with a reward at the end.
Saw a video on FB where this gentleman saved every $5 bill that went thru his hands into a taped Nike box, along with any "extra" money he came across around the house.
After 2 years, he counted it with his 6 year old daughter and accumulated $1,155.
Great way to teach children a good habit in this world of "instant gratification".
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It's good clean fun with a reward at the end.
[...]
Great way to teach children a good habit in this world of "instant gratification".
@DCPatriot
Yes it is...
I have a buddy that's been working on a water cooler jug for a long, long time. Like, since high school or something... Haven't seen him in a decade or more, and I wonder if he ever topped that puppy off. Now that's some walking around money, right there.
Not for me though. Ain't got that much patience. It's all I can do to refrain until I top off that little jug I have. :whistle:
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I've been throwing all my change into a large tin container for a couple of years.
The other day, out of curiosity, took it to my local Wegman's. They have a machine that counted $355.36 in less than 30 seconds!!! Still can't figure out how that is accomplished.
Didn't even mind the 12.9% discount when you figure the time to count and get a receipt for cash.
If you look hard enough you can find a bank or credit union that will pay you back or deposit your change without a surcharge or give you a paper gift certificate.
Yeah, I'm that frugal...... (Too much Scottish Ancestry)
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If you look hard enough you can find a bank or credit union that will pay you back or deposit your change without a surcharge or give you a paper gift certificate.
Yeah, I'm that frugal...... (Too much Scottish Ancestry)
My bank doesn't take much of a nick for the processing... It might have even been for free.
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Since mid-March, I've used cash only about three (maybe four) times -- every time to buy gas. And I try to buy less than a fill-up, so I don't get any change back.
I haven't used coins AT ALL since early March.
I'm wondering when I'm going to use them again...
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Any other numismatics out there wondering what kind of rarities might be generated out there from this?
Got to admit, I am seeing fewer than normal new (2020) coins that you would usually see in a calendar year.
In a year with a depressed economy, the high dollar US Mint proof and uncirculated productions, especially precious metals, will likely be in low demand, and worth more in the future.
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So are the local banks and credit unions. I had the misfortune to go the easy way during my divorce... I had a personal account at a nation-wide bank specifically to handle web page income. Since my web page got international scope, it had to handle international income, so a big national bank was what I needed, even though the income from it was never all that... Rather than opening another local account, it was just easier to move my banking (basically electronic payments and little more) into that already existing account.
Believe me, I am fixin to correct that mistake. It s just SUCH a PIA to move those electronic payment routing numbers and all. That ain't gonna go smooth, and that is the only reason I am still there.
Just transfer money from the receiving account accumulation to your local account.
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Just transfer money from the receiving account accumulation to your local account.
certainly an option, I am looking around right now. When I find what want, I'll open an account and put some dough in it... then start changing the routing info everywhere, and leave the old account up for a year or so before closing it, just to catch the laggers. It is really pretty over in 60 days... but you always miss some. If they ain't done business with me in a year, then they can call me to find out...
Ain't no way in hell I am staying. All this mask bullcrap, the hopscotch on the floor, the here again gone again of the lobby, the three friggin months to get plastic...
Nope. It is beneath all dignity to give them folks the time of day.
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It’s weird, but every time I’ve been grocery shopping, over the last year or so, mostly everyone uses plastic.
The only people who use cash are senior citizens, and people who run in for one item, like milk. I’ve noticed when I’ve used cash, if the person behind me is younger than me, I get an eye roll.
Same with clothes shopping, I’ve not seen anyone pay cash in those stores in a while either.
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I rarely have any coins in my pocket anymore, I only use cash for things like political and charitable donations so it's always an even amount, like tens, twenties and such.
I do have cash around, it's handy for Casinos and the weed dispensary (that's a cash-only business until the Feds lift the restrictions on banks). I also have uncut proof sets of every denomination up to and including the Benjamins.
Lifestyle changes. I wore a watch every day of my life, until the day I left work for the last time. Now they collect dust.
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I went grocery shopping yesterday and the bill came to $93.93
(I also bought stamps at the grocery store so that explains why it was a little higher than normal)
I didn’t have enough in coins and the gal didn’t have much in change, so I gave her $94, and told her to keep the seven cents.
I wasn’t going to get worked up over seven cents.
I guess it’s time to take piggy bank to Coinstar.
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I went grocery shopping yesterday and the bill came to $93.93
(I also bought stamps at the grocery store so that explains why it was a little higher than normal)
I didn’t have enough in coins and the gal didn’t have much in change, so I gave her $94, and told her to keep the seven cents.
I wasn’t going to get worked up over seven cents.
I guess it’s time to take piggy bank to Coinstar.
Carry four quarters, four dimes, two nickels, and six pennies and you will be likely to have all the coins you need for a day.
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Carry four quarters, four dimes, two nickels, and six pennies and you will be likely to have all the coins you need for a day.
Well, unless you are going to the car wash anyway...
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Well, unless you are going to the car wash anyway...
Round here those take plastic.
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@Smokin Joe
I have been a prepper for many years. That means, if banks are closed, there is stored money of one dollar bills, some $5 bills, and stored change in which I put all change I get, except I keep some quarters, some dimes, few nickels, and some pennies in my purse.
When I went to casinos, I took $20 bills or changed larger bills into 20s when I got there. I wonder if casinos will ever come back which means one does not have to wear a mask in the casino. Some casinos are open, but the risk is there with people all around one, no six ft. distance.
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@Smokin Joe
I have been a prepper for many years. That means, if banks are closed, there is stored money of one dollar bills, some $5 bills, and stored change in which I put all change I get, except I keep some quarters, some dimes, few nickels, and some pennies in my purse.
When I went to casinos, I took $20 bills or changed larger bills into 20s when I got there. I wonder if casinos will ever come back which means one does not have to wear a mask in the casino. Some casinos are open, but the risk is there with people all around one, no six ft. distance.
I had a considerable stash of change which unfortunately got looted by a young person my granddaughter dated who had stayed with us. At least he worked for it, it had to weigh 30 lbs. There is more, as I never put all my eggs in one basket. We, too, prefer smaller bills. When the oil patch was bustling, I'd put all but four of my ones in 'storage', and the accumulated ones got us through a more than couple of months of bills and groceries all by themselves when things slowed down.
I am hoping we can get through this COVID mess and back to work (as demand picks up), but that depends on just how deep the economic wounds will be, and in the meantime, I am taking what work I can find.