Post by: EppyGA - White Christian Domestic Terrorist on August 22, 2021, 02:10:30 PM
Post by: President-Elect Bob Noel on August 22, 2021, 02:17:19 PM
edit: coin shortages last year is one thing I didn't hear about blamed on covid-19. (mmm, that's an awkward sentence, but maybe people can squint and figure out what I'm trying to say...)
Post by: Bamaflyer on August 22, 2021, 02:36:22 PM
https://www.cnet.com/personal-finance/your-money/got-any-change-heres-the-scoop-on-the-national-coin-shortage/
Post by: Bamaflyer on August 22, 2021, 02:38:47 PM
I haven't heard about any coin shortages in the Boston area... sorry... I can't help...
edit: coin shortages last year is one thing I didn't hear about blamed on covid-19. (mmm, that's an awkward sentence, but maybe people can squint and figure out what I'm trying to say...)
Actually I think it’s mentioned that people were hesitant to avoid things last year that were in wide circulation like cash during the pandemic. So there ya go, it’s covid’s fault.
Post by: Little Joe on August 22, 2021, 02:43:33 PM
Here in the ATL we're seeing the coin shortage signs going up again. What the hell is going on?People like me are part of the problem.
I used to carry cash and some coins. I would try to pay in exact change when possible.
Now, I carry very little cash and no coins. On the rare occasion I have to pull out cash, it is usually a $20. When I get change, I'll keep the cash in my pocket but as soon as I get home, the coins go on the dresser, and then into a jar. I'll bet I have a few hundred dollars of coins in several jars around the house. But periodically I'll give a jar (full of coins) to a kid, which theoretically should put them back in circulation.
Most of the time now I don't even carry a billfold. I have a case for my phone that has a pocket on the back that holds my license, a couple of credit cards and a folded $20 or two.
Post by: President in Exile YOLT on August 22, 2021, 02:53:21 PM
Post by: Jim Logajan on August 22, 2021, 03:09:27 PM
Are U.S. coins in short supply?
There is currently an adequate overall amount of coins in the economy. But business and bank closures associated with the COVID-19 pandemic significantly disrupted normal circulation patterns for U.S. coins. This slowed pace of circulation reduced available inventories in some areas of the country during 2020.
The Federal Reserve continues to work with the U.S. Mint and others in the industry to keep coins circulating. As a first step, a temporary cap was imposed in June 2020 on the orders depository institutions place for coins with the Federal Reserve to ensure that the supply was fairly distributed. Because coin circulation patterns have not fully returned to pre-pandemic levels, caps were reinstated in May 2021. We continue to closely monitor orders and deposits from depository institutions as well as U.S. Mint production. The U.S. Coin Task Force, which was formed in July 2020 to identify, implement, and promote actions to address disruptions to coin circulation, continues to meet regularly until coin circulation normalizes.
Since mid-June of 2020, the U.S. Mint has been operating at full production capacity. In 2020, the Mint produced 14.8 billion coins, a 24 percent increase from the 11.9 billion coins produced in 2019.
As the economy recovers and businesses reopen, more coins will flow back into retail and banking channels and eventually into the Federal Reserve, which should allow for the further rebuilding of coin inventories available for recirculation.
Post by: nddons on August 22, 2021, 08:23:39 PM
That is a big part of the problem.
Fortunately we belong to a credit union, which still does nice things like that.
Post by: President-Elect Bob Noel on August 23, 2021, 04:14:43 AM
Most banks have stopped taking your jars of coins, are charging you to exchange them for cash. Wells Fargo for example.
That is a big part of the problem.
Fortunately we belong to a credit union, which still does nice things like that.
my local bank has a coin counting machine for use by bank customers. The machine issues a receipt/ticket/whatever and you have to deposit it into your account (within, iirc, 24 hours)
Post by: Little Joe on August 23, 2021, 05:04:08 AM
No thanks.
Post by: Rush on August 23, 2021, 05:23:49 AM
A while back I think I read that you could use the coin counter machines in Walmart for no charge. But you didn't get cash back. You got a Walmart gift card.
No thanks.
There are machines at our local grocery stores. I haven’t used them but my husband has, pretty sure they gave him cash minus a small fee.
Post by: Username on August 23, 2021, 05:29:58 AM
(maybe this should be in green... maybe not)
Post by: Lucifer on August 23, 2021, 05:39:19 AM
It's the first step in the government's drive to eliminate cash and go to a totally electronic money economy.
(maybe this should be in green... maybe not)
That's actually correct. A move to electronic currency will be the democrat communist and establishment's wet dream. Just think, if we had 100% electronic currency right now, people's funds and access could be shut off "until you get vaccinated", or, if you are one of the millions of Domestic Terrorist Extremist, just turn off all access to funds.
Post by: Username on August 23, 2021, 05:44:14 AM
Post by: jb1842 on August 23, 2021, 06:36:18 AM
Post by: Rush on August 23, 2021, 06:38:55 AM
Just like the police can take your cash if they find you have "too much" during a search. Just in case it's drug money. They can freeze your electronic cash just in case you're a domestic terrorist or support domestic terrorism by not being vaccinated. Or voting Republican.
There is a big pushback against civil asset forfeiture fortunately. Unfortunately going all digital with a federally controlled digital currency will get around that and they’ll be back to doing it. I hear there is something in the infrastructure bill to study regulating Bitcoin. The feds are targeting it with the idea of taking control of it, then outlawing all other cyber currencies. But I didn’t read the bill myself.
Post by: President-Elect Bob Noel on August 23, 2021, 07:03:20 AM
Post by: Lucifer on August 23, 2021, 07:07:36 AM
Going all digital won't stop bartering.
Until bartering is made a crime.
Post by: President in Exile YOLT on August 23, 2021, 07:24:23 AM
my local bank has a coin counting machine for use by bank customers. The machine issues a receipt/ticket/whatever and you have to deposit it into your account (within, iirc, 24 hours)TD Bank used to offer that- it was very convenient.
Then some !%*$^* filed a class action because they said the count was off or some other BS reason, and after paying a huge settlement, TD said "F this" and took the machines away.
Post by: President in Exile YOLT on August 23, 2021, 07:26:28 AM
Until bartering is made a crime.
It's not as long as you pay your tribute to the various tax authorities.
Post by: President-Elect Bob Noel on August 23, 2021, 08:19:17 AM
Until bartering is made a crime.
like murder has been stopped by making it illegal?
etc
Post by: Lucifer on August 23, 2021, 09:17:51 AM
like murder has been stopped by making it illegal?
etc
Nope, it then creates black markets. Al Capone made millions off of prohibition, as did Joseph Kennedy.
Post by: nddons on August 23, 2021, 09:56:20 AM
So are we going to have to swipe our cards in the strippers ass crack when we get a lap dance? Asking for a friend.Post of the day, sir! Congratulations!
