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What's The Deal With This Coin Shortage?  Rate Topic 
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 Posted: Mon Jul 27th, 2020 08:50 pm
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beejmi
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I haven't followed that closely because I really haven't seen it (until today) so if I say something uneducated or whatever go ahead and correct me


So this weekend I start seeing signs up at businesses that you need exact change or credit card purchase.

I have a friend that I email out of state (Florida) telling me that a bank down there will take your coins and give you 5% instantly. As in, take in $100 of coin, leave with $105

Hilarious because I couldn't get a 5% interest rate (instantly no less) if I had banked there for 100 years

I'm guessing that the whole schmoz is because of the country's lockdown and money isn't circulating.

Now from there my brain says this is an effort to go digital. It gets you out of the cost of producing the paper and minting the coin and we're throwing money around in the trillions so there is a significant savings doing it this way.

Or do I have it wrong?

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 Posted: Mon Jul 27th, 2020 09:25 pm
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Angelic Assassin



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It's mostly COVID-19 related but I do believe that in part it is also a push to go digital.

Just another form of control governments are pushing on people. 

Many retail outlets have signs up during this "plandemic" asking customers to pay by debit or credit as opposed to cash. So everybody's little swear jars at home are full to overflowing.

The mint had also drastically slowed down the production in coins during the early months of the "plandemic" but as of June were supposedly ramping up production.



Maybe I'm naive but I'm not for going totally digital so hopefully it doesn't happen in my lifetime.  The problem I see is that while safeguards will supposedly be in place what happens when the whole system crashes? So goes the economy as well? 


I have had the "tap" option disabled on my credit cards because I've seen and heard stories and have a couple friends wind up with bogus charges to their cards related to "tap".

I walk around with less cash in my pocket than I used to and will use my credit or debit cards for larger purchases but use cash for smaller purchases and just feel like it's a good idea to always have some cash on you. As far as coins I know some people that walk around with $20 some odd dollars with of coins at a time and I wonder why. 



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 Posted: Mon Jul 27th, 2020 09:46 pm
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Infamous
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Training public to go digital ? Aluminum cans shortage too. I haven’t noticed any shortage of cans or coins tho

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 Posted: Mon Jul 27th, 2020 10:04 pm
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Franchise
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Infamous wrote: Training public to go digital ? Aluminum cans shortage too. I haven’t noticed any shortage of cans or coins tho
Diet Dr Pepper in cans has been hit or miss for about a month and has been off the shelf for about a week in my area. 



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 Posted: Mon Jul 27th, 2020 10:12 pm
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WongLee
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beejmi wrote: so if I say something uneducated or whatever Don't worry bro, we're all used to it by now.



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 Posted: Tue Jul 28th, 2020 12:29 am
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chrob61



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In my area, at Kroger, if you pay in cash and get back change, the coin portion is loaded onto your shopper's card. I mostly use my credit card, but I think the coin policy is due to the covid pandemic.

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 Posted: Tue Jul 28th, 2020 01:01 am
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Quattro

 

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Simple. No conspiracy. Coin did not circulate during covid outbreak and the mint was not producing. Hence a coin shortage. A lot of coin was stuck in coin machines and not picked up. Those coin machines in some are just now getting going.

Really more of a misallocation than a shortage. Circulation stopped and or was disrupted in many ways.

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 Posted: Tue Jul 28th, 2020 01:02 am
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Heenan Fan
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I also believe it's the large number of people who hoard their loose change. Almost everyone I know has a huge bottle of loose change in their house. Common sense says it effects the economy too.

I know a broad who crys and complains constantly about not being able to pay her rent, but she probably has a least $150 minimum in a change jug - that is placed prominently on her fireplace mantle like it's some sort of furniture decoration. I never got the point of hoarding loose change? We always keep change in a small jar in the kitchen for emergency purposes, but it's rarely more than 3 or 4 dollars.



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 Posted: Tue Jul 28th, 2020 01:33 am
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Angelic Assassin



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Franchise wrote: Infamous wrote: Training public to go digital ? Aluminum cans shortage too. I haven’t noticed any shortage of cans or coins tho
Diet Dr Pepper in cans has been hit or miss for about a month and has been off the shelf for about a week in my area. 


Diet Dr. Pepper. I think people are hoarding it to use as a high colonic. You know, using shit to clean out shit. 

Just shake vigorously , pop open and hold it to your bung hole. 



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 Posted: Tue Jul 28th, 2020 02:11 am
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Principal_Raditch



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Saw an ad last night for Dr Pepper/Cream Soda combo

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 Posted: Tue Jul 28th, 2020 02:22 am
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Franchise
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The cream soda combo is good for a few drinks but I don’t like it as much overall. I know that’s not a Beej level drink review but it’s all I got.



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 Posted: Tue Jul 28th, 2020 02:30 am
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Heenan Fan
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Franchise wrote: The cream soda combo is good for a few drinks but I don’t like it as much overall. I know that’s not a Beej level drink review but it’s all I got.Try it with Canadian Mist.



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 Posted: Sun Aug 2nd, 2020 03:58 am
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Heenan Fan wrote: Franchise wrote: The cream soda combo is good for a few drinks but I don’t like it as much overall. I know that’s not a Beej level drink review but it’s all I got.Try it with Canadian Mist.I used Crown Royal, but yeahh....tasty

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 Posted: Sun Aug 2nd, 2020 04:10 am
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Because of cash back, I usually use credit cards. But if I use cash, when I get pennies back I throw them away. Now I feel bad.

Last edited on Sun Aug 2nd, 2020 04:11 am by sportatorium roach

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