Nationwide shortage of coins

[senona]

Until I read this in my work email (I'm a dept. manager at Kohls), I would not have thought anything about shortage of coins.


Toilet paper, yes.
Water, yes.

But coins? No, not really.


However, in my email that I received the other day, Kohls Corp talked about the shortage of coins that has occured due to coronavirus, and that they want the cashiers to start asking if the customer has the change, when paying cash.

And that explains why my Administrator ordered "extra coins" per our store manager.

(CNN)Masks were the first to go. Then toilet paper flew off shelves. And while Americans are being nickel-and-dimed with coronavirus-related costs in a shaky economy, the latest national shortage includes, well, nickels and dimes.

There's a coin shortage in the US.

"What's happened is that, with the partial closure of the economy, the flow of coins through the economy has gotten all — it's kind of stopped," Federal Reserve chairman Jerome Powell said during a virtual hearing with the House Financial Services Committee on Wednesday.

That's because the supply chain that coins usually flow through has been interrupted during the pandemic, Powell said.
Banks and businesses have shuttered or changed the way they operate. And so there are fewer coins reaching the public.

"The places where you go to give your coins, and get credit at the store and get cash — you know, folding money — those have not been working. Stores have been closed," he said. "So the whole system has kind of, had come to a stop."

SOURCE


 
The shutdown has created a domino effect on our economy, one thing after another, for both the people and businesses.

Hopefully the road to economic recovery won't be a long one.
But it's not looking too good at the moment.







 
 


Nickel and dimed? Kansas City area stores to run low on quarters due to COVID-19

"It was actually a shock,” said Mike Beal, chief financial officer for Balls Foods.

“You don’t expect to get an email saying the government has run out of coin or that there’s a very low inventory.

He’s never seen that issue before and it left him wondering what they do.

“It puts a pretty big crimp in your business,” Beal said. The company buys an average of $17,000 in quarters a week. With the rationing, it will be limited to only $480 in quarters, he said.

 
 


First National Bank of Fort Smith Holds Coin Drive due to nationwide coin shortage

FORT SMITH, Ark. — The Federal Reserve says the coronavirus pandemic has resulted in a national coin shortage.

First National Bank will pay a 2% premium on all U.S. coins brought to any of their branch locations.

First National Bank writes, “Get out your stash, look under your couch cushions, crack open those piggy banks and bring all of your coin to earn an extra 2%.”

Of course, TPTB have been trying to get people to switch over to paying with plastic for years, so while we are caught up in the fear of the virus, wonder if this is their way of slowly getting people to comply without realizing it?!

Just a thought.....

[ChiefD]

I know that in my neck of the woods, many places discourage anyone paying cash. They want you to use a debit or credit card. My parents are pissed because they don’t have a debit card, just a credit card. They prefer to pay cash though. 

I have a roll of quarters that I’m holding on to. I can’t remember the last time I paid cash for anything. Crazy times we live in.

[MisterSpock]

I haven't brought my spare change to the bank in years.

I have a few jugs and several bags and small buckets all over the place. I should bring them in, been meaning to anyway. Probably not much, a few hundred bucks, but It would be grocery money for 3 or 4 weeks.

[TheRedneck]

The other day a friend and I stopped at a convenience store to pick up a few things and the total came to, I think it was, $3.97. Handed the clerk four bucks and she asked "Do you want your change?" I thought it was a strange question, but no, three cents just ain't worth being concerned about. Normally I would just put it in the "take a penny" tray anyway.

I guess now I know why.

I also think maybe people are going to start figuring out why shutting down an economy is not a smart move, no matter the reason. The economy is a vibrant, living thing that grows to adapt to whatever the conditions are at the moment. It cannot be micromanaged, any more than one can micromanage blood chemistry. One change here can affect 100 things over there in very bad ways.

BTW, I am still convinced there will be an announcement any day now that toilet paper carries the virus... popcorn is at the ready!

TheRedneck

[Snarl]

I also think maybe people are going to start figuring out why shutting down an economy is not a smart move, no matter the reason. The economy is a vibrant, living thing that grows to adapt to whatever the conditions are at the moment. It cannot be micromanaged, any more than one can micromanage blood chemistry. One change here can affect 100 things over there in very bad ways.

Everything that can be changed is being changed.  There may be a nationwide coin shortage, but we're all about to see a lot of change.

Your wisdom is a beacon on the boards.

[Ahabstar]

Selling change...2 cents on the penny.

[TheRedneck]

I also think maybe people are going to start figuring out why shutting down an economy is not a smart move, no matter the reason. The economy is a vibrant, living thing that grows to adapt to whatever the conditions are at the moment. It cannot be micromanaged, any more than one can micromanage blood chemistry. One change here can affect 100 things over there in very bad ways.

Everything that can be changed is being changed.  There may be a nationwide coin shortage, but we're all about to see a lot of change.

Your wisdom is a beacon on the boards.

We ain't seen nothing yet,

It's been less than 6 short months since I first heard of the WuFlu/King Flu/Democrat virus. In that minuscule amount of time, we have seen:



Entire industries shut down by law for public safety.

Public safety laws passed by executives only, with no legislative input even.

National shortages on everything from beef products to toilet paper to hand sanitizer to now coins.

Our deficit exploding under the weight of a closed economy.

People literally held hostage in their states and not allowed to leave.

Travel restrictions between states.

Medical clinics closing their doors to sick people.

Nationwide calls to end police protection.

Continual riots driving police form their own precincts.

Cities taken over by armed gangs of thugs.

Spiking crime rates.

Police fired and charged with murder over self-defense.

The illegal destruction of historical monuments, often with official support.

Denial of the right to protest based solely on the cause protested.

Denial of religious freedom.

A serious candidate for President with advanced dementia.



Out here, little has changed... so far. The sun still rises in the right place at the right time, grass still grows way too fast, rain still falls to make the crops grow, people still shake hands and talk politely to each other. But I have been around the block enough times to know that will not continue. The insanity will come here as well, and will be welcomed with open arms. I have installed working locks on my doors for the first time in 30 years. I recently renewed my CCW permit after 35 years. I am considering installing CCTV stations around the place. I am actively purchasing a few new firearms and ammunition along. And I am not alone: the sheriff's department here has literally put in an express lane for CCW permits to handle the overload. I would imagine there are hound dogs in this county who are packing heat now.

People are readying themselves. That's a good thing. We ain't seen nothing yet.

TheRedneck

[Mystic Wanderer]

That's interesting, a shortage on coins. Wonder if they will go the way of the dinosaur?

Maybe I should hold on to the ones I've been collecting over the years?  I keep a bowl where my change goes every time I empty my pockets when coming back from shopping. I use it at Christmas every year to put a dent in my expenses.
You'd be surprised how much one can accumulate over a year's time. I only have two people to buy for, so it really does come in handy.

If coins now become obsolete, I'll either be very sad that I lost all that revenue, or very happy that I hung on to something that could be worth many times the original amount (for collectors). 
Time will tell.

Oh, I just remembered... My bank has an option where you can round off your expenses to the next full dollar amount when paying with a debit card, and then they put the change into your savings account. It's all digital, so no real coins are put out into the public money flow.

Seems like they (the banks) have been trying to get rid of coins for quite awhile.

Interesting!

[drussell41]

Yeah, could be that.  OTOH, it could be because we have a huge portion of them (as I look at my husband's 20-gallon jug filled with coins).    ;)

[senona]

We ain't seen nothing yet,

It's been less than 6 short months since I first heard of the WuFlu/King Flu/Democrat virus. In that minuscule amount of time, we have seen:



Entire industries shut down by law for public safety.

Public safety laws passed by executives only, with no legislative input even.

National shortages on everything from beef products to toilet paper to hand sanitizer to now coins.

Our deficit exploding under the weight of a closed economy.

People literally held hostage in their states and not allowed to leave.

Travel restrictions between states.

Medical clinics closing their doors to sick people.

Nationwide calls to end police protection.

Continual riots driving police form their own precincts.

Cities taken over by armed gangs of thugs.

Spiking crime rates.

Police fired and charged with murder over self-defense.

The illegal destruction of historical monuments, often with official support.

Denial of the right to protest based solely on the cause protested.

Denial of religious freedom.

A serious candidate for President with advanced dementia.



Out here, little has changed... so far. The sun still rises in the right place at the right time, grass still grows way too fast, rain still falls to make the crops grow, people still shake hands and talk politely to each other. But I have been around the block enough times to know that will not continue. The insanity will come here as well, and will be welcomed with open arms. I have installed working locks on my doors for the first time in 30 years. I recently renewed my CCW permit after 35 years. I am considering installing CCTV stations around the place. I am actively purchasing a few new firearms and ammunition along. And I am not alone: the sheriff's department here has literally put in an express lane for CCW permits to handle the overload. I would imagine there are hound dogs in this county who are packing heat now.

People are readying themselves. That's a good thing. We ain't seen nothing yet.

TheRedneck

That is one hell of a list that you have there.

To see everything written down and lined up as you have it, is mind blowing.
Especially since it's all taken place in the span of approx 4 months 




Who in the world ever thought that Medical clinics would close their doors to the sick or postpone much needed surgery???
Not I.



I feel like there are many factors at play here, just wondering which one will come out on top.



What started out as a health issue has gone the way of political issue, thus making the virus scare seem disingenuous.


Many families were denied funerals due to covid.
Yet a stranger had a funeral on national TV with THOUSANDS of people attending and not one peep about spreading the virus.


People going to beaches and churches were condemned.
People protesting peacefully due to the lock down were called selfish, uncaring, didn't care if people died.

Yet thousands of people protested nationwide all in the name of GF, destroying property and not. one. word. of selfish, uncaring or didn't care if people died. Not one word from MSM about not complying with social distancing or wearing masks. Not one word about spreading the virus.


THIS here is why the whole coronavirus scenario seems politically motivated.

Yes, covid is real, I do not deny that it is not.


BUT one cannot be selective on which groups of peoples can be condemned, all the while excusing and overlooking other groups of peoples.

That is not how a real health pandemic works.
A real pandemic knows no skin color or political affiliation.
It does not know age or gender.

It does know those who are vulnerable, weak and with existing health conditions.



Unless the virus is not as bad as they once made it out to be, which there have been and still is much contradictory information being spread around by both govt officials as well as MSM




I know this much --- the year 2020 will go down in history as one of the most fukked up years!! EVER