Posted on 08/11/2020 9:30:25 AM PDT by cuz1961
Look into fountains. You might find three coins.
“What really happened to all the U.S. coins ?”
In my wife’s junk drawer.
Supposedly it’s a problem of circulation because people have moved to cashless payments and so many retail outlets closed down during quarantine. I am not sure what supply chain issues the mints would have but it seems difficult for businesses to get coins from banks at least in ATL. One problem that’s out there is many designs of self-checkouts (if not all?) have to have coins to accept cash.
I have seven rolls of quarters I’ll sell for $100
Sorry,,don’t buy the velocity argument.
People are out of work,, businesses collapsing,,income is in short supply. So logic says folks are digging the coins out of the couch and car seats so they can buy food, gas and stuff,,they aren’t hoarding it and lowering the velocity.
No,it’s classic constriction for political and propaganda and agitation IMHO.
But it’s really fun to ask cashier’s and bank tellers if the coins got raptured !
Click the Pic
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I had a chat with a cashier about it yesterday. She believes that it’s because so many people are staying at home / working from home. And they are doing a lot of shopping online using credit cards, which means that their coins are not circulating.
There is at least one drive through coffee place near me that only accepts payment by credit / debit card. They put this policy into effect back in March. Not sure how many other places have a similar policy.
Please don’t take my last comment as a “challenge.”
I am serious in that I cannot find a single argument to draw down coinage from the marketplace. I think its mostly just folks not “moving” their coinage—from retailer in change, to pocket, to tip jar—to bank deposit—to retailer.
Any change I’ve gotten either goes right in a tip jar or my jar at home.
And due to contactless pick up of coffee—the only thing I buy out now—its all done on my phone. I toss them a dollar every couple of days. No change.
There’s really no mystery. They got the rona in one of the coin making spots and had to shut down, and they slowed down the other by staffing less to get social distance. Make less, have less. Very simple math.
If they’re all dated 1964 or earlier I’ll buy them off you.
They all swarmed behind the new ‘Bat’ quarters, which are all one can get right now.
People din’t use change much, dump their change in jars, use credit cards more with C19. The coins are in dressers in homes.
BTW — 1/10 oz. gold coins are sold out now. Few 1/2 oz. out there. 1oz coins are still available.
If they really stopped striking coins this year, I can see a shortage happening coupled with other issues mostly due to COVID hysteria.
People tend to hoard (unintentionally) coins because they think they’re annoyances. Maybe someday they’ll use them, or trade them in, but like my husband and father, mostly they just keep accumulating in a jar somewhere. They take coins only, do not give. (This is probably more a problem with men, since they don’t have good carrying systems.)
Some will just collect what they can for fun each year.
Couple this with all people not interacting anymore in the real world. Few opportunities to even use coin.
BTW, this means there will be a low 2020 montage of coins and thus, they will be unusual and worth a little more. Unless everyone hoards the 2020s and they’re not as rare to collectors as they could be.
Nope. But they’re not. They’re Johnson Pennies as my gramps calls them.
Lol. Too bad.
Cheers FRiend.
I am willing to sell my coins for $1.50 per one dollar of coins. No checks.
I’ve heard the speculation is that they are trying to push us to a cashless society. They want everyone to use debit cards.
It would make it impossible to do anything anonymously. There would be a record of every purchase you ever made. It would tell where you’ve been, what you bought, how much, and when.
If people were buying stuff like guns and ammo, then there would be a trail for that.
If they suspected someone of *hoarding* or stocking up, it would show by their purchase trail.
There would be NO privacy with that route. Your life would be on record for all to know if they so chose to use it against you.
If someone is trying to get rid of cash, there’s no good reason for it.
I find that the most likely explanation, myself. And I’m sticking with it until something new comes along that makes more sense.
I don’t know where you stand spiritually, but Bible prophecy also talks about the mark of the beast, where a mark on the right hand or forehead are required to buy and sell. Going cashless would be the perfect precursor for implementing that.
It’s slowly easing people into getting used to it, and then it’s a short transition from using a card, which can be lost or stolen, to something hat you never have to worry about being without.
Easy, peasy. Right?
Where do the coins in the coin-changing machines (you get a gift certificate for stores you can choose from) in big box stores go?
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