Coin shortage hits the United States

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markscomp

Well-known member
Supporting Member
Joined
Mar 22, 2018
Messages
149
Location
central pennsylvania
Last week businesses in my area of the United States, central Pennsylvania were told they could not get coins from our banks for weekend transactions. They were to ask customers for exact change. There were signs at Lowes and Home Depot store that confirmed this.

Another consequence of the pandemic: a nationwide shortage of coins

https://www.cnn.com/2020/06/18/us/us-coin-shortage-coronavirus-trnd/index.html

anyhow is paper money next?
 
Most of the problem rests with people keeping coins until bank branches are open. Nationwide, that is likely over $10 Billion in coin.

Time for more coffee.
 
I'm one of those people. Spent some time sorting and rolling recently, but my bank branch only does business through the drive throughs right now, and you can't send coins through the drive through tubes.

Dave
 
FrugalRefiner said:
I'm one of those people. Spent some time sorting and rolling recently, but my bank branch only does business through the drive throughs right now, and you can't send coins through the drive through tubes.

Dave
Then take them to stores to buy stuff. Get them back in circulation.

Eric
 
We were in Los Angeles yesterday, and Salt Lake City today, we've seen those signs in both cities.
 
The banking cartels have been wanting to do away with cash for a long time. Hopefully people will fight to keep cash alive. Fiat is fiat, that's why I stack! Cash is freedom in many ways.
 
I took mine in to my bank a week or so ago. I went through the drive through and let them know what I had and they let me in. Now I'm seeing banks offering a 5% to 10% premium. :|

Dave
 
Hmmm.... so the fed are happy to QE digitally but there is a shortage of coins?

Sounds like something a whacky conspiracy theorist would have predicted years ago...
 
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