Coin shortage

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  • Sigblitz

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    I took this picture at Meijer Sunday. Apparently there's a coin shortage.

    LEGGd3L.jpg
     

    d.kaufman

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    First I've heard of it. I shopped my local Meijer (Portage) Saturday as well. Paid cash at the self checkout. Didn't notice any signs anywhere either in reference to a coin shortage
     

    citizenkane

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    I’ve seen the sign at Lowe’s.

    I figured people would have cashed their change in by now.
     
    Last edited:

    Phase2

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    None whatsoever. People will simply use CC for purchases. Cash/change are dirty and disease carrying.

    And this from a cash-whenever-possible person.
     

    KittySlayer

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    Jan 29, 2013
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    What would cause a national coin shortage?
    Because I have a gazillion coins in my tray by the door at home.

    Generally if I can’t pay cash I am shopping elsewhere. I am not ready to live in a world where every transaction I make is entered into a database. And Jenny’s shopping history probably looks really weird. 867-5309
     

    Phase2

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    Fight it as long as you can, but they are shutting down cash. Part of the recent Fed moves means that banks don't need to hold reserve cash any more. It will be harder and harder to make cash withdrawals.

    People holding tons of coins at this point will make it harder for businesses to deal in cash and provides more incentive to restrict cash purchases. You will find your options shrinking for cash purchases.
     

    Ballstater98

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    I've seen a couple family members post pictures in different states. Since you can't go into the bank to run them through the coin machine...ya. I'm not fond of using like a Coinstar and paying for that service.
     

    mom45

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    We roll our coins and use them to pay for meals when we eat out. Businesses go through a lot of change so we've never had an issues using it that way.
     

    Phase2

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    You can hold the change, but the long-term direction is out of your hands. You'll be able to hold onto the it while cash purchasing gets more and more restricted until they are effectively useless.
     

    MCgrease08

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    We roll our coins and use them to pay for meals when we eat out. Businesses go through a lot of change so we've never had an issues using it that way.

    That's interesting. I worked in restaurants for 20 years and never had anyone pay with rolls of coins. At least not that I can remember.
     

    maxwelhse

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    We roll our coins and use them to pay for meals when we eat out. Businesses go through a lot of change so we've never had an issues using it that way.

    Unless you just enjoy doing it, there's no advantage in rolling your own change. My Dad started a coin operated business in 1988 and thought he'd have to do that and the first thing the bank told him is that they'd have to break all of his rolls open and count them anyhow. I can't imagine that any other institution wouldn't have progressed to that system in the last 30 years too. That said, his coin counter (bought as a used model from that very same bank), does have a mechanism on it for automatically rolling coins presumably for bank use to give to customers. I don't know this for certain, but I don't think the treasury even deals with rolls. Just big bulk bags of loose coins.

    So, if you like to pay with rolled change because that's just a thing you like doing, just trade your loose change in for rolled change at the bank and save yourself the effort. Their machine rolls them in seconds.

    Also, FWIW for other folks, my credit union has their own coin star type of machine in their main entrance: no charge. If for some reason you find yourself with lots of loose change all the time, maybe find a place local to you that has a similar service? For those in the area, this is 3 Rivers FCU in Fort Wayne. I don't know if all of the branches have them, but the Dupont branch has for a few years now.
     

    mom45

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    Our bank doesn't have a coin counting machine. If they do, they won't count loose change for us. They told us that they got rid of the machine because too much junk was being brought in with the loose coin and it was constantly damaging the machine. They give us the paper rolls to roll the coin and accept the rolls that we take in without counting it. The only option I know of around our area is the coin machines at Walmart that count them and charge you a percentage to do it.

    We take the rolls to local family style restaurants and have never had an issue with any of them not wanting to take the rolled coins.
     

    Phase2

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    I've just been spending my change along the way. Never have more than a couple of dollars worth on hand at any point.
     

    Ballstater98

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    *side note* My wife paid for her wedding dress with her collection of change. I about had a hernia carrying it in bag by bag. That was her plan with her change.
     
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