Posted on 07/15/2021 10:41:20 AM PDT by jimjohn
“A scheme to force digital only? Hmmm........”
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A big FAT YES!!!!!!!!!!!!!!!!!!!!!!
This has been going on for several weeks now.
Notice that Federal Reserve Notes (US Dollars) and coins are on two different sides of the balance sheet.
US Dollars are backed by debt (Treasury Bonds, Notes, and Bills) while coins are minted by the US government and not backed by debt.
What do you do when you want everyone to be a complete bond servant?
You get rid of coins.
The dollar will be so worthless soon, coins will be obsolete.
No shortage, commerce is trying to get everyone in the world on cashless payment. I presented a local grocery store clerk with exact change using pennies to ‘help with the shortage’ and he said there is no shortage...
It’s been going on for most of the pandemic. With people not going out as much, bank lobbies being closed, and the like the normal flow of coins from business to banks to the Fed and back again has been disrupted. It’ll work its way out eventually.
during the lockdowns, no one was turning in their buckets of coins. My son probably has $500 or more in coins that he hasn’t turned in yet.
Funny you think the same thing would be happening with dollars too.
some coins cost more than they are worth to produce.
I think that is the main problem ;)
I’ll confess. It’s me causing he shortage. See I have always thrown my change in one of several containers I have at home. Probably have several hundred if not a thousand dollars in coin.
Maybe someday I bring it to one of those coin counting machines if I can find one that won’t charge me a fee. But then again, maybe not.
Depends on the bank. Some have machines and do it for free if you have an account.
For years now, all stores have had those "penny trays" at the registers and people would toss their pennies into them. The cashier would then use them to "even up" the register when making change. For instance, if the purchase came to $7.03 and the customer handed them a ten dollar bill, they could take three pennies from the tray and give the customer back three dollar bills instead of two dollar bills and a pocketful of change.
Now I notice that people are tossing nickels and dimes into those trays too. The quarters however, are still worth hanging onto.
I think I'm going to make a thread on this phenomenon someday.
I have $1500 in rolled change, whats the best place to go to convert to bills without paying fees?
Sometimes on a Saturday my mother would give my brother and me each a half dollar. It might be the Liberty Half or the Benjamin Franklin, both solid and heavy with silver. We'd go into town for a day of fun.
Before inflation, a half dollar was a lot of money for a boy to have. Pinball machines were a nickel per play. 25 cents could get you into the kids Saturday matinee, or buy a burger and coke.
I don’t know about your aread but last month a friend of mine found himself unable to get quarters (for a laundry machine) and the bank he visited would not give him a roll of quarters (for $10) because he was not a customer there.
Credit union
I have tons of quarters I am willing to sell to the feds for .50 cents each.
Pff... those pennies are my retirement plan!
I carry bills and plastic. For a while now, I’ve dropped my spare change into a piggy bank (Darth Vader cookie jar - seed money to buy a couple mountain acres in WV).
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