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Coming Influx of Coinage?
Posted:
Wed May 20, 2020 9:37 pmby Dr. Cadmium
None of the banks in my area have been accepting coins for deposit for about two months now. Is it reasonable to expect a small surge of coins once they open their lobbies again?
Re: Coming Influx of Coinage?
Posted:
Wed May 20, 2020 10:20 pmby coppernickel
I anticipate a surge of people cashing out of coin for three reasons;
1- pent up need. Without access to banks there is a need to cash out. Catchup should be quick.
2- down economy. When people need cash they will empty the piggy bank. I actually read a book once that stated the first place to get quick cash is to check your couch.
3- cashless economy. Many businesses are required to go cashless to reopen, money is dirty and infectious, you know.
Re: Coming Influx of Coinage?
Posted:
Wed May 20, 2020 11:38 pmby coindood
Contributed about $25 of regular rolled change at my Wells Fargo today. Had to make an appointment to get lobby access. Got there early and people were let in before me who didn't have appts (no car for the drive-thru or other reasons). Whole ordeal took about 30 mins and it smelled more antiseptic than a hospital in there.
Re: Coming Influx of Coinage?
Posted:
Thu May 21, 2020 4:19 amby Recyclersteve
If your theory is true, you’d think Coinstar machines would be really busy. It has been years since I saw a waiting line of even one person at a CS machine (exception: someone like me scavenging for free coins).
Re: Coming Influx of Coinage?
Posted:
Thu May 21, 2020 5:27 amby hobo finds
coppernickel wrote:I anticipate a surge of people cashing out of coin for three reasons;
1- pent up need. Without access to banks there is a need to cash out. Catchup should be quick.
2- down economy. When people need cash they will empty the piggy bank. I actually read a book once that stated the first place to get quick cash is to check your couch.
3- cashless economy. Many businesses are required to go cashless to reopen, money is dirty and infectious, you know.
I would add people have been home bored with not much to do so it could be a god time to roll up all that coin and get rid of it. keep the kids busy as well....
Re: Coming Influx of Coinage?
Posted:
Thu May 21, 2020 4:21 pmby shinnosuke
coppernickel wrote:I anticipate a surge of people cashing out of coin for three reasons;
1- pent up need. Without access to banks there is a need to cash out. Catchup should be quick.
2- down economy. When people need cash they will empty the piggy bank. I actually read a book once that stated the first place to get quick cash is to check your couch.
3- cashless economy. Many businesses are required to go cashless to reopen, money is dirty and infectious, you know.
Hey, would you mind inviting me over to your house to watch TEEVEE? I'll just sit on the couch thanks.