Is there still a coin shortage?

[Treetop]

Supposedly the shortage is based on people not emptying their change jars because they dont want to touch physical dollars during a pandemic. But if those people arent using cash they arent storing up new change to take out of circulation, only those still using change as normal would have a chance to do so. So for me it comes off likely its just more pressure towards a cashless society. The explanations just dont add up.

[Cu Penny Hoarder]

Supposedly the shortage is based on people not emptying their change jars because they dont want to touch physical dollars during a pandemic. But if those people arent using cash they arent storing up new change to take out of circulation, only those still using change as normal would have a chance to do so. So for me it comes off likely its just more pressure towards a cashless society. The explanations just dont add up.

A teller at my credit union told me today that it's because the people that work at the place that rolls the coins are very short staffed. I've heard so many different reasons why there is a change shortage. I don't think anyone really knows for sure. I believe it's because TPTB are gearing ppl up for a cashless society.

[Cu Penny Hoarder]

Procured more nickels and pennies today from my CU. $40 nickels and $20 in pennies (yielded about 20% copper). This one particular branch is charging a premium of $0.15 cents PER ROLL for ppl who walk up to the teller booth and ask for coin rolls. Today I ordered a few more boxes of nickels and pennies at $7 each. Sorting is getting expensive.

[Treetop]

Supposedly the shortage is based on people not emptying their change jars because they dont want to touch physical dollars during a pandemic. But if those people arent using cash they arent storing up new change to take out of circulation, only those still using change as normal would have a chance to do so. So for me it comes off likely its just more pressure towards a cashless society. The explanations just dont add up.

A teller at my credit union told me today that it's because the people that work at the place that rolls the coins are very short staffed. I've heard so many different reasons why there is a change shortage. I don't think anyone really knows for sure. I believe it's because TPTB are gearing ppl up for a cashless society.

That is feasible anyway. The bit Ive read on it just said what I wrote above though.

[fasteddy]

I did a federal depository tour this past summer...the rolling of coin is automated....the stacking of the coin boxes is automated...there is an attendant during the process but they didn't look like they did much but press the start button to get it all rolling(pun intended) and to keep the box feeder fed.

In the warehouse I saw millions of $ worth of coin all boxed up ready to go. Coin shortage?...i call bull.

[Cu Penny Hoarder]

I did a federal depository tour this past summer...the rolling of coin is automated....the stacking of the coin boxes is automated...there is an attendant during the process but they didn't look like they did much but press the start button to get it all rolling(pun intended) and to keep the box feeder fed.

In the warehouse I saw millions of $ worth of coin all boxed up ready to go. Coin shortage?...i call bull.

Exactly... and after laughing that's precisely what I told her, it all automated. She seems very down to earth and honest, so I don't think she's lying deliberately, she's simply telling me what her branch manager told her.

[Dr. Cadmium]

In eastern CT local businesses are having trouble getting dimes and quarters.

Also, I hit the local Coinstar return weekly or biweekly and I have only gotten coins from it once so far this year.

[Cu Penny Hoarder]

Today I received an email from another one of my credit union branches telling me that they now are charging for penny and nickel rolls. $0.15 cents per roll. I'm going to stick to ordering boxes from now on, mostly nickels.

I'm also soliciting friends and family members for any change jars they may have.

[coppernickel]

In the past week I have been able to get a box of nickels from from three different branches of my bank. Each time I made it appear to be an incidental part of a bigger transaction. Only one branch hesitated. These were all in business areas.

[Silver4face]

There should be a demand for pennies- COPPER! Now 3x face as mentioned in another post. Btw, a bank told me the same thing today : quarters and pennies were low

[Silver4face]

Again, some banks are "participating" in the coin shortage and some are not. I recently hit a couple of banks with lots of pennies.

[Cu Penny Hoarder]

There should be a demand for pennies- COPPER! Now 3x face as mentioned in another post. Btw, a bank told me the same thing today : quarters and pennies were low

The majority of the penny boxes I've gotten recently contain +90% zincs. I still keep them though, the zincs are very close to face value now. I have several 5gal buckets full of them.

[Cu Penny Hoarder]

Again, some banks are "participating" in the coin shortage and some are not. I recently hit a couple of banks with lots of pennies.

I have not seen any signs in my CU or local stores saying "coin shortage" anymore. There are still plenty of self-serve checkout machines that are still taking cash.

[willy13]

I can not participate in this thread because I still have a couple thousand dollars in unsorted cents I still have not gone through. So I have not asked my banks recently. I know I know just keep hoarding, but I just can't seem to...

[Cu Penny Hoarder]

I can not participate in this thread because I still have a couple thousand dollars in unsorted cents I still have not gone through. So I have not asked my banks recently. I know I know just keep hoarding, but I just can't seem to...

Lucky guy. That would keep me busy/entertained for weeks!

[Mauserman]

My local bank is still not giving me coins in any large size.

[Cu Penny Hoarder]

My local bank is still not giving me coins in any large size.

Banks suck. Go to a local credit union. Before you open the account, ask them were they stand on coins rolls and ordering boxes. I've established contact people at several branches of my CU, they're more than happy to order boxes for me anytime I want. I don't mind paying the extra charge of $7 per box, pennies or nickels.

[Silver4face]

My local bank is still not giving me coins in any large size.

Banks suck. Go to a local credit union. Before you open the account, ask them were they stand on coins rolls and ordering boxes. I've established contact people at several branches of my CU, they're more than happy to order boxes for me anytime I want. I don't mind paying the extra charge of $7 per box, pennies or nickels.

Not all banks suck. I have a few good ones in my area. However, your advice on credit unions is excellent and hopefully people will do what u suggest. Also, if you are truly interested in hoarding large quantities, you need to go to BOTH banks and credit unions.

[Cu Penny Hoarder]

My local bank is still not giving me coins in any large size.

Banks suck. Go to a local credit union. Before you open the account, ask them were they stand on coins rolls and ordering boxes. I've established contact people at several branches of my CU, they're more than happy to order boxes for me anytime I want. I don't mind paying the extra charge of $7 per box, pennies or nickels.

Not all banks suck. I have a few good ones in my area. However, your advice on credit unions is excellent and hopefully people will do what u suggest. Also, if you are truly interested in hoarding large quantities, you need to go to BOTH banks and credit unions.

Glad you have some good ones near you, but my personal experience with banks I've had accounts with always gave me some type of pushback when I requested coin boxes. I could get a few rolls, but that's it. They also continue to push the "coin shortage" narrative. My credit union tellers never said there was a coin shortage, not even the branch managers.