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 Replies: 19 / Views: 3,276 |
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Pillar of the Community
United States
4691 Posts |
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.
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Bedrock of the Community
Australia
21786 Posts |
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.
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Rest in Peace
United States
18456 Posts |
I still can't get rolls of 2022 -p Lincolns from my bank .  |
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Pillar of the Community
 United States
7933 Posts |
They are all in the hands of the coin roll hunters.
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Pillar of the Community
United States
1227 Posts |
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
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Pillar of the Community
United States
1227 Posts |
And no I'm not one of those people
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Bedrock of the Community
United States
19112 Posts |
No issue with coins at my two primary bank branches.
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Pillar of the Community
United States
1613 Posts |
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
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Pillar of the Community
United States
3402 Posts |
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
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Valued Member
United States
266 Posts |
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.
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Bedrock of the Community
United States
20753 Posts |
Not sure but I think just way to many people hoarding coins as if they will be like Gold.
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Pillar of the Community
United States
3402 Posts |
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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Moderator
 United States
187582 Posts |
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.
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Valued Member
United States
94 Posts |
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.
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Bedrock of the Community
Australia
21786 Posts |
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 !  |
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Pillar of the Community
United States
4085 Posts |
Coin shortage = We Don't Feel Like Making Change
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Replies: 19 / Views: 3,276 |
Posted 07/24/2022 8:15 pm
