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Coin Shortage? Where Are All The Coins?

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Pillar of the Community
United States
4360 Posts
 Posted 07/24/2022  7:08 pm Show Profile   Bookmark this topic Add jimbucks to your friends list Get a Link to this Message
With the massive amounts of coins minted each year, how can we possiblly have a "coin shortage"? Where are they all going? If the mint stopped minting coins for several years, it seems to me there are still plenty out there for commerce.

Bedrock of the Community
Australia
20079 Posts
 Posted 07/24/2022  7:58 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
One Cent coins are like plastic bags, - for all practical purposes, they are single use only. No one carries10 or more Pennies in their pocket for ready use change. They are subsequently hoarded, until there hundreds of them to justify return to the bank.

Small wonder why billions are minted, and yet there some see a shortage of them..

One Cent? Best de monetized. They are an annoyance to all but collectors.
Bedrock of the Community
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United States
17910 Posts
 Posted 07/24/2022  8:15 pm  Show Profile   Bookmark this reply Add T-BOP to your friends list Get a Link to this Reply
I still can't get rolls of 2022 -p Lincolns from my bank .

In Memory of Butch L.
and Jim U. rest in peace .
Pillar of the Community
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United States
5517 Posts
 Posted 07/24/2022  9:07 pm  Show Profile   Bookmark this reply Add tdziemia to your friends list Get a Link to this Reply
They are all in the hands of the coin roll hunters.
Valued Member
United States
145 Posts
 Posted 07/24/2022  9:23 pm  Show Profile   Bookmark this reply Add I6609 to your friends list Get a Link to this Reply
How many people have buckets and buckets of pre 1982 cents waiting for the government to do away with the cent do they can melt them you mite be surprised how many people are doing this
Valued Member
United States
145 Posts
 Posted 07/24/2022  9:25 pm  Show Profile   Bookmark this reply Add I6609 to your friends list Get a Link to this Reply
And no I'm not one of those people
Pillar of the Community
United States
9398 Posts
 Posted 07/24/2022  9:29 pm  Show Profile   Bookmark this reply Add ijn1944 to your friends list Get a Link to this Reply
No issue with coins at my two primary bank branches.
Pillar of the Community
United States
1318 Posts
 Posted 07/24/2022  10:00 pm  Show Profile   Bookmark this reply Add Ballyhoo to your friends list Get a Link to this Reply
Must be a sporadic thing. I'm getting plenty of 2022 cents, nickels and dimes every day after paying for my coffee. Mostly the 2021 Washington Crossing quarter followed closely by the Sally Ride.
ANA member - PAN Member - BCCS Member
There are no problems only solutions - the late, great John Lennon
Edited by Ballyhoo
07/24/2022 10:01 pm
Pillar of the Community
United States
3402 Posts
 Posted 07/25/2022  10:37 am  Show Profile   Bookmark this reply Add Kopper Ken to your friends list Get a Link to this Reply
My banks have signs up limiting the amount of rolled coins one can have...but these guidelines are not followed. I have no problem getting all coins except for halves.

KK
Valued Member
United States
266 Posts
 Posted 07/25/2022  10:50 am  Show Profile   Bookmark this reply Add HappyHippo to your friends list Get a Link to this Reply
A lot of people are hoarding pre1982 pennies and all nickels in the hopes that the commodity prices will rise and the restriction on melting them would be removed. I think such behavior is anti-societal and kinda foolish. How many tons of nickels would you have to hoard to be worth anything? Alot.
Bedrock of the Community
United States
20732 Posts
 Posted 07/25/2022  11:13 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
Not sure but I think just way to many people hoarding coins as if they will be like Gold.
just carl
Pillar of the Community
United States
3402 Posts
 Posted 07/25/2022  12:07 pm  Show Profile   Bookmark this reply Add Kopper Ken to your friends list Get a Link to this Reply

Quote:
...as if they will be like Gold.


Poor Man's Gold...I'm guilty as charged...Got a 5 gallon bucket full.

KK
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United States
116536 Posts
 Posted 07/25/2022  12:26 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
I keep all my 95% copper cents. My goal is to keep them from the melting pot. I doubt I will ever see a profit from them.
Valued Member
United States
84 Posts
 Posted 08/05/2022  06:30 am  Show Profile   Bookmark this reply Add CoffeeTime to your friends list Get a Link to this Reply
During the pandemic in spring 2020 the fed reduced production to help protect employees. They did increase later in the year but the reduction certainly rippled through the economy. Plus numerous businesses and banks closed further changing the dynamics. At one point the fed was asking folks to not hoard coins and spend or deposit them.
Bedrock of the Community
Australia
20079 Posts
 Posted 08/06/2022  04:00 am  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
If I was a hoarder, (which I am not),
I would be a bit like Scrooge McDuck, but with a difference:
I would have Cent signs in front of my eyes !
Pillar of the Community
United States
3899 Posts
 Posted 08/06/2022  12:57 pm  Show Profile   Bookmark this reply Add KenKat to your friends list Get a Link to this Reply
Coin shortage = We Don't Feel Like Making Change
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