Here's a good article on it. Fact is, there's a billion more coins floating around now than last year at this time. The problem is that people aren't spending them with so many businesses closed. So much is being done with debit and credit cards so the coins aren't being circulated.


Why are coins hard to find during the pandemic?
The Federal Reserve has seen a significant decline of coins in circulation because people are not spending them as regularly at businesses, many of which are either temporarily closed or not accepting cash.

Coins are still plentiful. In April, the U.S. Treasury estimated more than $47.8 billion were in the market, up by more than a billion dollars compared to last year.

But in recent months, people have not been spending those coins at places like laundromats, banks, restaurants, or shops because the businesses are closed, or people are not visiting them as often as they were before the pandemic.

"The typical places where coin enters our society have slowed or even stopped the normal circulation of coin," said the Federal Reserve, which manages coin inventory, in a June statement.

Sales at restaurants, bars and gas stations dropped more than 40% in April compared with a year ago. Sales have since picked up, but some businesses — like bars — remain shuttered in certain states, while others can only operate at a limited capacity.

The Federal Reserve has encouraged banks to order only the coins they need and to make depositing coins easy for customers. One Wisconsin bank system offered its customers a $5 bonus for every $100 in coins they brought into exchange at a branch.

The program was so successful, the bank suspended it after only a week.

Money, including paper and coins are the nastiest most germ ridden thing that we handle on a day to day basis.
Maybe folks stopped using them believing that they could get the Covid 19 from handling them ???

On day to day, yes, but self-serve gas pump handles have to be right up there too, on a weeklly or whatever scale.

A few years back I read that every paper bill in circulation for more than a few days tested positive for cocaine.

I wonder why the dollar coin never became popular? Have the mints quit making half dollars? Haven't seen one in circulation in years.

The newer LaundryMatts don’t use coins anymore. You use your debit card.

They programmed the vending machines at work to reject cash. Have to use your card.

Banks around here won't take coins unless they are rolled and they don't have a rolling machine in the bank anymore. I understand that there is a machine in one of the grocery stores that will take your coins and return cash but I think there is a 10 to 15% charge for doing it and from what Ive heard they cause a lot of problems. I'll wait until I have a good bit of change and then roll it myself. It's not worth the effort to me to roll pennies.

The mint still makes half dollars, but they are considered NIFC after 2002 (not intended for circulation). You can still get boxes of half dollars, but most banks will only give them to people with business accounts.

I took two half gallon mason jars full of coins to the local bank.The lady teller could not lift them.One of the tellers helped her dump them into a counting sorting machine.It took about 4 minutes a jar to count sort and wrap them.They gave me a $10.00 bonus per jar for bringing them in.Took home $480.00.

The last serious effort at making a $1 coin was the idiotic Susan Anthony $. I hope some genius lost his job over that one.

Not seen or heard of any shortage of any denomination coins around here yet. Wife saves dimes and she's got probably at least 20 pounds of them now.

Technically the US silver eagles are dollar coins.

And then there is this, they are trying to pass a bill to allow the mint to produce 2021 100yr anniversary morgan and peace dollars. That would be cool!

H.R.6192

Tried ta take a bunch to the bank.

They would only take rolled coins.

Old days, they would only take loose.

So, they got no coins.

Our small bank won't take coins if they are rolled, they are afraid that you will short them a coin. They do have a coin machine that sorts and counts and probably rolls. I usually try to limit the amount of coins I take in at a time to $500 so that it won't tie up the equipment and people very long at a time. Otherwise you have to leave a blank deposit slip and leave the coins with them till they have someone free to count it.

I was pretty embarrassed one time when the young lady came back out from the sorting machine and handed me a couple of .22 LR and a 30 Herrett loaded cartridges that I had failed to remove from my pocket change.

This has been my contention from the beginning.

Supply and demand, but this time the consumer should make out.
I have pint, quart, big pickle jars, peanut cans... full of change.
Fill one, get another.

Thank the Good Lord, we haven't had need of it in years, so it sits.
Why "cash" it out and blow it.
May need it one day.

Bet their are millions of folk the same.

Offer a 10% bonus, they count.

In two weeks the banks would have every spare inch stacked with change.

Our bank says no shortage here. Will take coins as soon as get roller fixed but no hurries

Yea you can't get anyone to take a 50.00 gold coin.

It just sucks.

I'll take 'em. I'll even give you full stated value for the old things.

I have a bunch of coins. Mostly for coin-op car washes. I race the clock and get the biggest bang for my 4 bucks.

Don't ask about the vacuum station. Get out of the way, I'm saving money here.

I found a Wal-Mart that would take mt loose coins and give me full face value. $1395.

I took in over 2500 bucks worth still got a few gallons of pennies to roll.

We did the Sacajawea coins after that, starting in 2000

The $1 and $2 coins are alive and well here in Canada. Basically the penny has vanished. Now businesses (by law) round charges either up or down so the penny is no longer needed.
The large denomination coins are known as loonies or toonies.

Jim

That was such a flop that I forgot about it

I have about $1-K in coins. I was going to ask the people at the bank if they would like me to bring them in.
If I use a coin machine at a store, they take an amount for their service.
I'm sure the coins will find there way to the bank this week.

My bank has a change maker that weights loose coins and tells you the amount. I didn’t believe it, so the lady put the bulk coins in a coin counter and it was exact. With one exception..., The teller handed me a Canadian penny which I simple put back into the grandkids bank. They have close to $1K in a savings acct., from a piggy bank the holds roughly $250.00 when full. Amazing how much change adds up when you empty your pockets daily.

I was just in the local Cabelas tonight and they have a sign up, No coins. You can pay by check or card or the exact amount or round it up but you won't be getting any change back.

Whatever.

I got 4 big pickle jars And a few shoebox size plastic containers of coins. Seems like a lot of quarters. I guess I should figure out how to cash them in. I keep a coffee cup in the truck and when its full I bring it in and dump it in one of the larger containers. I would guess theres ten years worth of coins laying around here. No idea what the value might be. I never carry any coins in my pocket. The only time I use them is if Im in truck going through a drive-through. And rarely then.

Woo-wee!

Went through about a third of a five gallon pail of quarters sorting for junk silver, not a single pre ‘65 coin in the bunch. It was several thousand $ worth, all turned into the bank. No problem, no premium either.

And I wouldn't be buying anything and walking out the door.....

I have ignored all the "exact change only" signs since they started to appear.

Not a single place has had a change issue. They just put the signs up in an effort to virtue signal and create a faux doomsday atmosphere.

It's every bit as retarded as the other aspects of the CoFarce.

I don't know of a single store here now other than Walmart with a self service checkout that will take cash. They've all converted to card only. To pay cash or if you want cash back from a debit card, you have to wait in line.

Pennies, nickels and dimes should be abolished. I mean WTF what a friggen worthless hassle.

Then they can't price stuff at 19.95.

Exactly. 😀

You do not want cash OR coins to be abolished! Cash and coins are a form of payment freedom you do NOT want to give up.

You will REGRET going cashless!!

The Asians, especially the Chinese are hoarding coins. At least they are in OC CA.

LOL

gloves on the gas pump handles for sure