What is going on, coin shortage

grumpy · Post by **grumpy** » Mon. Jul. 06, 2020 10:24 pm

Since when ? where did it all go, or.. a move to a cashless world. And its because of covid...

https://www.pennlive.com/business/2020/07/giant-s ... rtage.html

gaw · Post by **gaw** » Tue. Jul. 07, 2020 6:03 am

I've been seeing signs in convenience stores asking to use exact change if you have it because of the coin shortage. Stores that don't have the signs I'll ask the cashier and they haven't heard of it. I know I have been sitting on a lot of coin since before COVID and then the banks closed so I couldn't cash it in. Maybe people hoarded it along with the toilet paper.

lsayre · Post by **lsayre** » Tue. Jul. 07, 2020 6:51 am

In 2019 this was the price paid by the taxpayers for the government to make our coins, as measured in FRN's.

Penny: $0.0199
Nickel: $0.0763
Dime: $0.0373
Quarter: $0.0901

It makes very good sense to store away and not spend pennies and nickels. OTOH, it makes very good sense to pawn off "hot potato" dimes and quarters to a "bigger fool" for his/her goods and services as soon as you can.

johnjoseph · Post by **johnjoseph** » Tue. Jul. 07, 2020 7:22 am

“A penny saved is two pence clear.”