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#2238994 - 07/02/20 06:31 PM Change Shortage?
Anonymous
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Rumor is the FED is having a difficult time processing change; making a shortage in some markets. I was at the Dollar Tree yesterday and noticed a sign that they are doing debit or credit cards only; no cash due to a cash back shortage.

Has anyone started limiting how many rolls of coin a customer can have? I had a personal customer request 10 rolls of each denomination. We gave them to them, but are now wondering if we need to start limiting, or perhaps just limiting to business customers?

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#2238996 - 07/02/20 06:47 PM Re: Change Shortage? Anonymous
rlcarey Offline
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Galveston, TX
It is a lot more than a rumor. Check with your specific Federal Reserve Bank from which you order for an update and availability of supplies.
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#2238997 - 07/02/20 06:50 PM Re: Change Shortage? Anonymous
rlcarey Offline
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Galveston, TX
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#2239018 - 07/02/20 09:33 PM Re: Change Shortage? Anonymous
Pretty Penny
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https://www.usatoday.com/story/mone...nnies-nickels-dimes-quarters/3230828001/

https://www.cnn.com/2020/06/18/us/us-coin-shortage-coronavirus-trnd/index.html

https://www.wbir.com/article/money/.../51-90903085-84dc-478e-8dbd-c7e58361d653

Personally I think hoarding coins (as an individual or business person) would be stupid. One dollar bills and five dollar bills, on the other hand - I think it would be prudent to have $100 worth of each, being that I live in a rural area where many businesses (especially those in the agricultural sector) don't take credit or debit cards. If you find a small business charging you $4.50 for something, it would not be the end of days if you had to pay with a fiver and walk away without your two quarters. Coin production will be back to normal very soon and it would be beyond stupid for people to try to hoard a bunch of rolls of quarters.

People hoarded toilet paper and then businesses put up signs saying they won't take returns or make refunds for toilet paper. Maybe banks should do the same thing, for consumers who want to get $500 in coins. Provide it or some of it, but assure them that you won't accept it for deposit if they keep it for longer than week, something like that...

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#2239028 - 07/03/20 01:37 PM Re: Change Shortage? Anonymous
Valley girl Offline
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TX
We have coin counters. Average for the main office to remit was 13 to 18 bags per week before Covid. This week picked up - we submitted 10 bags, but since mid-March, we have been down to less than 5 bags per week. The local grocery chain has also posted signs asking that customers pay with debit/credit due to the change shortage.

Also noticing that the Fed is sending us new bills as they are really driving our ATMs crazy.

And hoarding is real. When their mom passed away, two middle age sons brought her coin to our counter. They filled 31 penny bags in a 2 hour period.

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#2239032 - 07/03/20 02:06 PM Re: Change Shortage? Anonymous
rlcarey Offline
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Galveston, TX
I don't think it is as much hoarding, it is people just don't want to touch them much and carry them around with them. If I pay cash, I let the cashier "keep the change".
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#2239045 - 07/03/20 03:09 PM Re: Change Shortage? Anonymous
hmdagal Offline
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And I buy several rolls of quarters at a time for my mom to do laundry. It cuts down on the number of trips to both the bank and mom's facility.

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#2239067 - 07/03/20 07:53 PM Re: Change Shortage? Anonymous
Anonymous
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Time to cash in all those rolls of state quarters and empty out the state quarter maps?

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#2239347 - 07/09/20 06:00 PM Re: Change Shortage? Anonymous
Comply 101 Offline
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Quote
Time to cash in all those rolls of state quarters and empty out the state quarter maps?


So true, I was going to state they were worthless, but they are worth .25 each.
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#2239740 - 07/17/20 01:12 PM Re: Change Shortage? Anonymous
Anonymous
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One of the local casinos is firing up their coin counters again and asking players to bring in their change for dollars.

We have decided to wave any fees associated with coin exchange and extend this service to non-customers. Hopefully that will get coin running through the system again.

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#2239825 - 07/20/20 02:35 PM Re: Change Shortage? Anonymous
John Burnett Offline
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John Burnett
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Cape Cod
It really is time for the U.S. to get rid of the penny and round all transactions to the nearest nickel. I understand not wanting to drop the $1 bill in favor of a $1 coin, but the penny is really a waste of resources.
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#2239835 - 07/20/20 03:54 PM Re: Change Shortage? Anonymous
DeeQ Offline
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Turnpike Exit 10
It is the sales tax that screws everything up.
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#2239839 - 07/20/20 04:18 PM Re: Change Shortage? Anonymous
HappyGilmore Offline
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Pulling people out of the ditc...
i'd be okay with stopping sales taxes to make it easier to get rid of the pennies! smile

after all, it costs about 6 cents to make 1 cent, so they lose money on every single one...
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#2241562 - 08/25/20 05:02 PM Re: Change Shortage? Anonymous
Anonymous
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Anyone experiencing a shortage at their branches? We still have change a plenty and have had no issue ordering.

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#2241585 - 08/25/20 09:00 PM Re: Change Shortage? Anonymous
HappyGilmore Offline
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Pulling people out of the ditc...
many locations in the country are still experiencing, this article was just published yesterday:

https://thehill.com/policy/finance/...ericans-to-tackle-national-coin-shortage
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#2241712 - 08/27/20 09:40 PM Re: Change Shortage? Anonymous
Anonymous
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Probably because banks stopped providing coin counters?

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#2241716 - 08/27/20 10:13 PM Re: Change Shortage? Anonymous
RockChucker, CAMS Offline
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The Country
^ Dork ^
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#2241894 - 09/01/20 08:03 PM Re: Change Shortage? Anonymous
Anonymous
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GOOD ONE

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#2242267 - 09/10/20 05:25 PM Re: Change Shortage? Anonymous
Anonymous
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Coin shortage?

We have boxes and boxes. No one is hoarding. No one is bringing in buckets to count.

I'd say it's #fakenews

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#2242272 - 09/10/20 06:00 PM Re: Change Shortage? Anonymous
JWills, CRCM Offline
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The Mitten State
We cannot order change from the FED right now.
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#2242276 - 09/10/20 07:21 PM Re: Change Shortage? Anonymous
DeeQ Offline
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DeeQ
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Turnpike Exit 10
I have a one quart Mason jar filled with change.

<<-- hoarder...
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#2242322 - 09/11/20 03:21 PM Re: Change Shortage? Anonymous
HappyGilmore Offline
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Pulling people out of the ditc...
I have a 5 gallon water bottle that is about 1/3rd full...
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#2242330 - 09/11/20 04:38 PM Re: Change Shortage? Anonymous
JWills, CRCM Offline
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The Mitten State
My granddaughter has an UTZ pretzel container about 3/4 full of pennies. Too heavy to pick up. Her project for the weekend is to roll them.
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#2242348 - 09/11/20 08:07 PM Re: Change Shortage? JWills, CRCM
Anonymous
Unregistered

So they bank can unroll them?

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#2242356 - 09/11/20 08:44 PM Re: Change Shortage? Anonymous
JWills, CRCM Offline
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JWills, CRCM
Joined: May 2013
Posts: 1,726
The Mitten State
Vicious cycle. smile
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