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  1. #1
    Join Date
    Dec 2009
    Location
    Neenah, Wisconsin is about 40 miles south of Green Bay's Lambeau Field.
    Posts
    1,956

    Default The Great Coin Shortage of 2020

    Anyone care to explain this. How in the heck does the wealthiest country on the planet run out of coins? I've heard it's mostly due to the Covid Panic like just about everything else these days. Thoughts?

  2. #2
    Join Date
    Dec 2009
    Location
    North Twin Cities
    Posts
    1,241

    Default

    It is hard to cash them in when you have a pile. We get hundreds of dollars worth of quarters each month. They are a bit heavy to toss into the bank tube. Quite a few of the old normal locations are not doing coin sorting.
    It's not a shortage of coins. It is a shortage of circulation.

  3. #3
    Join Date
    Jan 2016
    Location
    Waterford,Wi
    Posts
    1,027

    Default

    not to sound conspiracist but maybe...meddling in the waters of a cashless society? how long have people saved coins? how long have coins been in circulation? then when banks were offering $5.00 for every $100 in coin?? **** that's better than any savings account, almost encouraging hoarding coin. Me personally.... don't buy it, not for one minute. My shop is right next to a carwash and since this coin shortage came to be made public, watched countless people come and get change and not drop a bit of it in car wash, one lady had a bag, I called the manager, he came, she took $23.00 on quarters, people are just plain ridiculous!... coin shortage? circulation problem? YEAH RIGHT! Now they are claiming aluminum can shortage.... whats next?? how about a media shortage!!!

  4. #4
    Join Date
    Dec 2009
    Location
    North Twin Cities
    Posts
    1,241

    Default

    People need coins to do laundry. They have to get them somewhere.

    Most of our coins come from a chain of DIY tattoo vending machines.
    You pick it, we stick it.
    Business was going pretty good until a couple of neck tattoos went out of whack and ended up on the face.

    Can shortage is because of drinking at home. It takes more cans instead of kegs.

  5. #5
    Join Date
    Dec 2009
    Location
    Neenah, Wisconsin is about 40 miles south of Green Bay's Lambeau Field.
    Posts
    1,956

    Default

    Well I did my part. Like most people, I have a jar on the back of my desk and at the end of the day I drop my pocket change in there. Just took a jar in to the bank. You're right, too heavy for the Air Tube, but they have a mechanical drawer attached to the building.

    The local liquor store won't make change but they will give me store credit "so I got that going for me, which is nice." Self checkout at Walmart is credit card only, but if you wait in line 10 feet away they'll make change all day long.

    I hope someone is writing all this down because in a hundred years nobody's going to believe the crazy year 2020 has become.

    Here's a nod to Billy Joel that puts it in perspective. https://www.youtube.com/watch?v=lK6tdsVS2tI

  6. #6
    Join Date
    Dec 2009
    Location
    Phoenix, AZ (Displaced Yooper with family connections in Houghton, Ontonagon & Marquette counties.)
    Posts
    3,214

    Default

    Quote Originally Posted by favoritos View Post
    People need coins to do laundry. …
    How quaint, real coins! Laundromats around here switched to using tokens and debit/credit card operated token dispensing machines 40-50 years ago; too many folks were breaking into the machines and stealing the coins! Some others dispensed their own cards that could be loaded/reloaded from debidt/credit cards.

  7. #7
    Join Date
    Dec 2009
    Location
    Spooner, WI
    Posts
    4,648

    Default

    Quote Originally Posted by favoritos View Post
    It is hard to cash them in when you have a pile. We get hundreds of dollars worth of quarters each month. They are a bit heavy to toss into the bank tube. Quite a few of the old normal locations are not doing coin sorting.
    It's not a shortage of coins. It is a shortage of circulation.
    Last time I was in Walmart I noticed they had a coin sorting machine for no charge.

  8. #8
    Join Date
    Dec 2017
    Location
    Osseo Wisconsin
    Posts
    519

    Default

    Quote Originally Posted by mspease View Post
    Last time I was in Walmart I noticed they had a coin sorting machine for no charge.
    I don't think that one gives you cash. If I'm correct that one same as some of the grocery stores in our area, puts money on a card. I prefer to go to the bank and actually take my coins in for cash. You think they're worth more right now?

  9. #9
    Join Date
    Dec 2009
    Location
    North Twin Cities
    Posts
    1,241

    Default

    We have not seen anyone offer a premium for coins. It was downright brutal trying to cash them a couple months back. We did a lot of shopping for a place and ran into a few that were charging a fee to give cash back. It has become a little easier to use a bank again, but not all are offering the option. Our banks also require that you do banking with them.(We use a few different banks) I'm not sure if that used to be the policy.
    I get the chain stores giving you credit in their stores. That is essentially their fee. I'm not a big fan of those policies. I prefer to shop where I want to shop. I like to spread it around and the local owner is going to get my first call.

  10. #10
    Join Date
    Dec 2009
    Location
    LandoLakes
    Posts
    501

    Default

    Quote Originally Posted by WorkHardPlayHrd View Post
    I don't think that one gives you cash. If I'm correct that one same as some of the grocery stores in our area, puts money on a card. I prefer to go to the bank and actually take my coins in for cash. You think they're worth more right now?
    Last time I went to two different branches of my bank which is a large company, they said they do not take loose change here are some paper sleeves you have to put them then we can take it. So we still are filling up the jar.

  11. #11
    Join Date
    Mar 2019
    Location
    Minnesota
    Posts
    149

    Default

    I usually bring mine in once a year and send it thru the machine at my credit union. It spits out a receipt with the total and I give that to the teller and they deposit it for me.
    I usually get $250-$300.

    Yeah...I pay cash for everything.

  12. #12
    Join Date
    Dec 2017
    Location
    Osseo Wisconsin
    Posts
    519

    Default

    Quote Originally Posted by Carbide View Post
    I usually bring mine in once a year and send it thru the machine at my credit union. It spits out a receipt with the total and I give that to the teller and they deposit it for me.
    I usually get $250-$300.

    Yeah...I pay cash for everything.
    My bank works the same way.

    Saw a gas station in the twin cities that said credit, debit, and coins. We are willing to count them it said.

  13. #13
    Join Date
    Nov 2009
    Location
    South Central Wisconsin
    Posts
    4,068

    Default

    My wife works at a bank, change circulation problem is all it is.
    Lake Effect Snow, my three favorite words.

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