In 1964 we were the bad guys is it happening again. 2 2

[J P M]

I went to the bank today to exchange some rolls out that I have already searched, I do it weekly but lately I have been getting these mad scolding faces and being told that I can't buy any new coins only exchange what I already have. And then today the bank had no Quarters at all? So are we collectors doing it again and hording all the coins. I know we are not but the banks want to make me feel like it is something I am doing ? Is anyone else having these problems with getting coins.

[Jason Abshier]

Since you bought that up , few smaller stores around me have signs up they need help with quarters and nickels and dimes … I think it’s a circulation problem that’s going on you’re not the first to notice it been going on for awhile in some areas and smaller stores 

[comicdonna]

The problem is, people haven't been using change due to the coronavirus.  Many stores ect are requiring credit cards only, or in some cases, exact change.  When I went to the self checkout today, there was a lady saying credit cards only.  No cash.  If change isn't circulating, it's not ending up in banks.

[VKurtB]

Make no mistake!!!!! The banking system believes (correctly IMO) that enabling coin roll hunting is NOT THEIR JOB, or certainly not their responsibility. 

[RWB]

Erratic supply chains affect much more than a single product. Large portions of the US economy are, and have been for 150 years, integrated with others. The W. Edwards Deming management approach and just-in-time manufacturing require tightly coordinated delivery and use. The kinds of stupid actions taken in the previous 3 or 4 years  plus the pandemic caused considerable disruption (in addition to costing US farmers much of their Asian markets).

Physical delivery of coins occurs in response to Federal Reserve regional bank requests which in turn filter up from local banks and delivery companies such as Brinks. This delay time further complicates getting coins to local banks and merchants, and all of that is closely related to reopening of businesses from the pandemic. COVID-19 has not gone away, but has become focused among unvaccinated populations. In many areas, this is a minor problem. But in some states and localities with low vaccination rates, it is as if the pandemic never subsided; and thus return to normal economic activity has not occurred.

Edited July 15, 2021 by RWB

[Hoghead515]

They always hate to see me coming at all the local banks around here. They go to puffing and a blowing when I exchange rolls. We aren't seeing the shortage here just yet. 

[Woods020]

It’s better than it was 6 months ago for sure. Not sure if they still are, but before I left Philly WaWa was offering free subs if you brought in a roll of coins. Seems like the major coin shortage has subsided as things start back up. 

[VKurtB]

On 7/14/2021 at 9:54 PM, Woods020 said:

It’s better than it was 6 months ago for sure. Not sure if they still are, but before I left Philly WaWa was offering free subs if you brought in a roll of coins. Seems like the major coin shortage has subsided as things start back up. 

It has become highly spotty. Before the pandemic, about 2/3 of coins coming into the banking system came from machines like Coinstar and others. Now start scaring people out of spending time in grocery stores, and guess what happens. 

[Conder101]

On 7/14/2021 at 9:45 PM, RWB said:

(in addition to costing US farmers much of their Asian markets).

It cost the Asian markets but I don't think it really hurt the farmers that much because exports to Europe greatly increased.  It's almost a zero sum game.  Asia didn't buy soybeans and grain from us and bought it from other suppliers.  But the people who normally bought from those suppliers now couldn't get anything, so they bought from the US.  X amount of grain and Soy is grown and consumed annually.  If China buys from someone else the rest of the world still needs it and consumption  still adds up to X.

Banks have never liked coin collectors/roll hunters, because it means  extra work for them and typically a loss in their operations.  It also messes up their balance on coin inventory and they don't like having excess inventory sitting.  That is money not earning income.  Or if too many rolls go out to hunters they can be short and have to short their business clients, people with large accounts that they make money off of.  They do NOT want to annoy those clients.  So coin roll hunters are a headache for them.

[VKurtB]

Bears repeating:

Banks have never liked coin collectors/roll hunters, because it means  extra work for them and typically a loss in their operations.

Banks have never liked coin collectors/roll hunters, because it means  extra work for them and typically a loss in their operations.

Banks have never liked coin collectors/roll hunters, because it means  extra work for them and typically a loss in their operations.

Banks have never liked coin collectors/roll hunters, because it means  extra work for them and typically a loss in their operations.

 

Now,… what did I say?

[J P M]

On 7/15/2021 at 2:53 PM, VKurtB said:

Bears repeating:

Banks have never liked coin collectors/roll hunters, because it means  extra work for them and typically a loss in their operations.

Banks have never liked coin collectors/roll hunters, because it means  extra work for them and typically a loss in their operations.

Banks have never liked coin collectors/roll hunters, because it means  extra work for them and typically a loss in their operations.

Banks have never liked coin collectors/roll hunters, because it means  extra work for them and typically a loss in their operations.

 

Now,… what did I say?

I am sure you are correct Kurt it is all about the profit...... Well they still like me I think LoL or maybe they like the money in all my accounts and credit cards I have with them. I don't bother them when it is busy and I only exchange a small amount like $50 it is just they did not have any change I thought it was kind of strange. More of a shortage it seams than just a rambling of a old corner store owner. And yes most people refused to use cash during the Pandemic so that helped to put a slowdown of coin exchange ... I am sure

[Hoghead515]

On 7/15/2021 at 12:23 PM, Conder101 said:

It cost the Asian markets but I don't think it really hurt the farmers that much because exports to Europe greatly increased.  It's almost a zero sum game.  Asia didn't buy soybeans and grain from us and bought it from other suppliers.  But the people who normally bought from those suppliers now couldn't get anything, so they bought from the US.  X amount of grain and Soy is grown and consumed annually.  If China buys from someone else the rest of the world still needs it and consumption  still adds up to X.

Banks have never liked coin collectors/roll hunters, because it means  extra work for them and typically a loss in their operations.  It also messes up their balance on coin inventory and they don't like having excess inventory sitting.  That is money not earning income.  Or if too many rolls go out to hunters they can be short and have to short their business clients, people with large accounts that they make money off of.  They do NOT want to annoy those clients.  So coin roll hunters are a headache for them.

That's why they puff and blow. Head shaking. Some get a little rude. There is one bank I go to though that has the sweetest old lady I ever seen. She just smiles and is very nice. She got to where she asks me now, "How many do you need," before I even say anything.   She always tells me it's no problem and it's a pleasure. She always ask me how many I found also. Just a wonderful lady. Sweetheart of a person. Then there's one at the same bank that its the awfullest thing ever to have to lay her dohnut down for a coin hunter. 

[Hoghead515]

They was really mad when LemE, Ray, Sharann, and I had that W quarter competition. I would stop in 3 or 4 times a day sometimes trading our quarter rolls. 

[RWB]

On 7/15/2021 at 12:23 PM, Conder101 said:

It cost the Asian markets but I don't think it really hurt the farmers that much because exports to Europe greatly increased.  It's almost a zero sum game.  Asia didn't buy soybeans and grain from us and bought it from other suppliers.  But the people who normally bought from those suppliers now couldn't get anything, so they bought from the US.  X amount of grain and Soy is grown and consumed annually.  If China buys from someone else the rest of the world still needs it and consumption  still adds up to X.

Banks have never liked coin collectors/roll hunters, because it means  extra work for them and typically a loss in their operations.  It also messes up their balance on coin inventory and they don't like having excess inventory sitting.  That is money not earning income.  Or if too many rolls go out to hunters they can be short and have to short their business clients, people with large accounts that they make money off of.  They do NOT want to annoy those clients.  So coin roll hunters are a headache for them.

European exports also decreased. The US hog farmers lost approximately half of their Asian market. That amounted to $18 billion per year. To make the situation more disturbing, that market was developed entirely by private enterprise - the farmers' CoOps - no state or Federal money was involved. Agricultural trade is not a zero-sum-game. Harvests come, then are gone and the grain/beans, etc. has to be sold or sit. A few years ago, much of it sat and thousands of tone of soy were destroyed. US lost sales and markets, and it will take another year or more of non-interference for them to recover much of it.

[VKurtB]

On 7/15/2021 at 4:11 PM, RWB said:

European exports also decreased. The US hog farmers lost approximately half of their Asian market. That amounted to $18 billion per year. To make the situation more disturbing, that market was developed entirely by private enterprise - the farmers' CoOps - no state or Federal money was involved. Agricultural trade is not a zero-sum-game. Harvests come, then are gone and the grain/beans, etc. has to be sold or sit. A few years ago, much of it sat and thousands of tone of soy were destroyed. US lost sales and markets, and it will take another year or more of non-interference for them to recover much of it.

This is why I wouldn’t care to be a farmer. As if market vagaries aren’t enough, butt stupid politics piles on as well. Should be a 15-yarder for Unnecessary Dumbness. 
 

But even all that said, for me, anything we can do to hurt China is great with me. I guess I have that luxury. 

Edited July 15, 2021 by VKurtB

[Sharann]

On 7/14/2021 at 8:56 PM, Hoghead515 said:

They always hate to see me coming at all the local banks around here. They go to puffing and a blowing when I exchange rolls. We aren't seeing the shortage here just yet. 

Same... Like that big bad wolf did to those little pigs😜

[World Colonial]

On 7/14/2021 at 9:23 PM, VKurtB said:

Make no mistake!!!!! The banking system believes (correctly IMO) that enabling coin roll hunting is NOT THEIR JOB, or certainly not their responsibility. 

Exactly

It's a nuisance accommodation to customers who are usually barely profitable or likely cost them money.  It's my inference that most bank customers either cost banks money or make them very little.

[Alex in PA.]

There's no shortage of coin here in Central Pennsylvania; I get my 4 rolls of quarters every week and no complaint other than "need any more?"

[VKurtB]

On 7/16/2021 at 11:22 AM, Alex in PA. said:

There's no shortage of coin here in Central Pennsylvania; I get my 4 rolls of quarters every week and no complaint other than "need any more?"

Alex, you and I both know what a truly exceptional place central Pennsylvania is - you to the north, me farther south. Some days here in Alabama I’m so homesick I could literally cry. 

[Alex in PA.]

On 7/16/2021 at 8:11 PM, VKurtB said:

I’m so homesick I could literally cry. 

We will always welcome you back.  Maybe wel even have a coin show or two,   

[VKurtB]

On 7/17/2021 at 11:48 AM, Alex in PA. said:

We will always welcome you back.  Maybe wel even have a coin show or two,   

I love my wife, and this is where she is. It’s my turn to take care of her medical issues, but I know that will flip flop some day. I’m older with more chronic issues that these winters are better for.

[Hoghead515]

On 7/17/2021 at 1:07 PM, VKurtB said:

I love my wife, and this is where she is. It’s my turn to take care of her medical issues, but I know that will flip flop some day. I’m older with more chronic issues that these winters are better 

I love it here where I'm located also. It's a wonderful place to live. You can't beat the people here. Most of them anyways. We got a few we'd all like to run off. Most of our winters are nice. We get cold days and snow but we get alot of mild days also. It's some very beautiful country around here to. All of you all are welcome here anytime. We'd love to have ya. 

Edited July 17, 2021 by Hoghead515

[VKurtB]

Hey @Alex in PA., there is an awesome auction coming up well south of you in York, PA, on July 31.  I know it’s a hike from Clinton County, but this guy does awesome sales. JMI Coin out of Stewartsville. His grading is spot on. Look it up on auctionzip.com.

Edited July 17, 2021 by VKurtB

[Alex in PA.]

On 7/17/2021 at 3:25 PM, VKurtB said:

Look it up on auctionzip.com.

Will do.  Haven't been down that way in some years.  BTW:  If you ever need anything from PA just pm and I'll have in the mail ASAP.  

[Woods020]

I saw my first sign on a convenience store door since being back in Alabama today saying they were short of change and only taking credit card. I immediately thought about this thread JP. 

[J P M]

On 7/17/2021 at 10:10 PM, Woods020 said:

I saw my first sign on a convenience store door since being back in Alabama today saying they were short of change and only taking credit card. I immediately thought about this thread JP. 

I have a feeling it is not going to get better very fast. With a credit card world no money is needed, heck you can use your phone you don't even need to pull out a card any more. I think the mint is more concerned with making there high end coins and meeting that demand then the regular coins that cost money to make. I am not sure where that leaves us collectors maybe out to pasture or maybe on a mountain top it could go either way.   

[Conder101]

On 7/15/2021 at 3:50 PM, J P Mashoke said:

And yes most people refused to use cash during the Pandemic so that helped to put a slowdown of coin exchange ... I am sure

Plus a LOT of banks closed their lobbies which made returning coin hoards difficult to impossible.  Back in the early 60's they did a study on the flow of coin to and from the Federal Reserve.  The Fed receives coins from the Mint and from the banks and ships coins out to the banks.  They found that return from the banks was nine times the flow from the mint.  Well during pandemic that return flow from the banks dried up to a trickle because the coins were not coming back to the banks

[Jason Abshier]

I know some places that do have coins mostly quarters and gold presidential $1 coins car washes and laundromats . They seems to keep their coins flow within business but some customers put $20 bill in machine probably only use $5 worth of coins and take the rest of $15 with them at home and throw them in a jar …But you didn’t hear that from me ! if you see some angry laundromat owner wondering why you’re using their coin machine for exchanges and not doing business in their establishment… Boy I’m bad at playing dirty sometimes 

[Jason Abshier]

Some banks are strict with customer policy too . I remember years ago my daughter was like 7 years old she dumped a bunch pennies , dimes , quarters , everything in a bank’s counting machine got her voucher totaled out like $30 she wanted to go pet store buy her first hamster . The lady behind counter wouldn’t give her an exchange of money “because she didn’t have an account” well no duh ! It’s a little 7 year old !!! I asked lady why they don’t put sign up at coin counting machine for customers ONLY ! luckily I had an account with them to get it all sorted out … Can’t believe they would as a little 7 year old that .. the glory days of going in the bank to just do a simple money exchange for whatever you wanted is long over 

[Alex in PA.]

On 7/18/2021 at 11:31 AM, Jason Abshier said:

! luckily I had an account with them to get it all sorted out …

Would have been me the minute they paid my daughter is the minute I would have closed my account and banked else where.  That isn't the most stupid thing I've heard lately but it is close.

PS:  I shouldn't be surprised.  Not just banks but a lot of places have developed a bad case of 'rudeness' since this Covid thing.

Edited July 18, 2021 by Alex in PA.