How America fell into a great coin shortage

[SunSeeker]

Whatever it’s called, this lack of coinage seems to be a challenge that ever-divided government, businesses and Americans can unite behind. There’s a new coin task force, complete with its own hashtag: #getcoinmoving. Businesses heavy in coins are helping businesses without. A Chick-fil-A in a South Carolina mall is inviting people to bring in their rolled coins in exchange for cash and a free sandwich. Casinos are trying to tempt would-be gamblers to empty jingling pockets in exchange for free slot play.

In yet another 2020 plot twist, coins aren’t making their way through the economy, with the repercussions rippling from the upper echelons of the federal government down to ice cream shops and bank teller windows. With more people staying home, buying less and shifting their spending online, the natural flow of pocket change through banks, restaurants and retail stores has dried up.

Earlier in the pandemic, the mint scaled back the number of employees working shifts to allow for social distancing, White said. By mid-June, the mint had ramped back up to full production.

“This is not a coin supply problem,” White said. “It’s a circulation problem, and we need the public’s help to solve this. … Every little bit helps.”

https://www.washingtonpost.com/business/2020/09/01/coin-shortage-pandemic/

[safeinOhio]

1. The mint would be making money if they returned a dollar bill

for every 70 cents in pennies turned in. It cost that much to make a penny.

[doc03]

2. I am 72 years old and have never seen a coin shortage until the orange

criminal came to Washington. A couple days ago I go to Walmart to buy a couple things total around $5. I go to the self checkout
all the machines take credit cards only. I ask the attendant if I could use cash anywhere, she points to the one register that was open. The one register had a line with several people with loaded carts. I didn't want to stand in line for 10 minutes for 2 items so I ended up using a machine and paying with my credit card. I don't like using a credit card for everyday expenses, I buy gas and on line with
credit that's about it. At Kroger they offer to put it on your Kroger card or round up for the food bank and you can get change if you want.
I don't buy that thing about the coins not circulating. Lately I have noticed I have received a lot of those state quarters that are almost 20 years old in mint condition so it appears people are turning those in but they claim people are hoarding change.

[safeinOhio]

3. My local store has one of those CoinStar machines

right across the aisle from the register. It charges 11% to cash in your coins. A sign at the register is begging you to have the correct change.

[doc03]

4. My bank has a coin machine and charges nothing for using it, never has. nt

[Igel]

11. I remember a penny shortage.

1970s?

[Chainfire]

5. Limiting coins is part of Making America Great again. I would have thought you got that.

It is one of the major successes of the Trump Reign, right behind Covid and unemployment.

[Blue_playwright]

6. I don't get the end game of it though..

... what is the benefit? More chaos?

[Lucky Luciano]

7. I hardly ever spend cash.

I have the same $40 sitting in my wallet from a month ago. Change? That goes straight into the jar almost forgotten about...and it feels weird to even have it in my pocket!

[SunSeeker]

8. Jack in the Box will exchange your quarters for paper money and give you 2 free tacos!

[Lucky Luciano]

9. Taco Arbitrage!

[Chainfire]

10. I don't get change like I used to

When I used mainly cash, in the evenings I would dump my change in a jar on my dresser. I would usually cash it out around Christmas and generally net about $300.00. (if the wife and kids hadn't been digging for my quarters too often) That has passed with the use of the debit card, and I am lucky to raise $75.00 a year now. The less cash I have to handle, the better I like it.

[tapper]

12. Grocery store now charges for cash back

used to routinely get 20 or 40 back at grocery store when using check or debit card, until the store started charging a fee. Also, started using Apple Pay this spring for some purchases—easier to do than digging out card.

Did exchange about 25 in change which I scavenged while cleaning my rental a couple of months ago.