My federal credit union has coin counters at three or four branches.

The credit unions and banks I've used near me all have counters (credit union is free, the banks use a Coinstar machine, where the fee is split between the company and a local charity).

They actually won't take rolled coins at my locations, they told me to dump them into the machine (too many people using foreign coins or shorting the rolls).

Our bank (Trustmark) won't take rolled coins any more. Instead they want you to bring them in a ziplock. The give you something that's not really a receipt and they ship them off to a central location to be counted and a credit shows up in your account for the amount. No fees.

Well, other than the lost ones in the count....

There's no shortage, it's just sitting in jars and jugs in everyone's house.

I don't know about "no one using the coming machines", any time I try to use them at my bank it's either out of order, or I have to wait on a line to use it.

While I still use cash (a whole lot less than I used), the way I use change has... changed, pardon the pun. I got tired of having so much junk in my pockets, which I always do. I also got tired of trying to pick change out of that mess in stores, so I no longer try. I never use change in a store. I also pretty much only carry change from the store to home, where in goes in a container till I cash it in. Which could be bi-annually or more. That's the type of thing that's keeping the change out of circulation.

quote:

Originally posted by cas:
There's no shortage, it's just sitting in jars and jugs in everyone's house.

That's half of the issue, the other half is due to the reaction to the virus, the local banks stopped orders from the Fed, the Fed held orders from the Mint, the Mint furloughed employees and shut production.
This created an artificial shortage because of a disruption of the circulation lines. We are not out of coins, but they are not circulating as normal and it leads to local shortages, leading to panic and over-reacting by businesses and consumers.

Yeah the shortage is something of a pain. Personally I couldn't care less since I pay with a card just about everywhere, but a gun shop needs change since so many customers refuse to pay with anything that leaves an electronic footprint.

quote:

Originally posted by monoblok:
Yeah the shortage is something of a pain. Personally I couldn't care less since I pay with a card just about everywhere, but a gun shop needs change since so many customers refuse to pay with anything that leaves an electronic footprint.

Wow, people are just a bit paranoid in the 'commie, rainy side of WA', aren't they...

Jim

quote:

Originally posted by nhracecraft:
]Wow, people are just a bit paranoid in the 'commie, rainy side of WA', aren't they...

Yeah, there's that crowd. But most of the time what prompts their fear is the inevitable retribution from their spouses. <insert guillotine emoji here>

I can't even recall the last time banks didn't expect you to bring it in pre-rolled.

Seems like 20yrs or so.

 
I rarely pay cash, so don't collect too many coins. The only ones I keep any more are quarters. They go in a little leather zipper pouch that I carry in the truck, usually about $10 worth, and I dip into them occasionally for a drive-thru meal. The local Safeway has a coin counter, but I don't know if there is a charge for using it.

There was a zero percent chance I was going to spend the time to roll my change and take it back to the bank.

My wife had other ideas so she spent about three hours rolling what I think she said was $234 worth of change and took it to the bank.

Immediate issue solved.

Now to stop accumulating pocket change in general. I have a friend who years back liked to throw his change, especially pennies in the bushes as "useless". He might have been a trend setter and not known it.

The credit union about 4 miles away on the same road as I live still has one. I guess I need to cash mine in. Must have a few hundred dollars worth.00

quote:

I have a friend who years back liked to throw his change, especially pennies in the bushes as "useless".

Better yet toss them in cupholder or desk until you have 20-50, then sprinkle around outside and office or home window where you at least get some entertainment.

quote:

Originally posted by Georgeair:

quote:

I have a friend who years back liked to throw his change, especially pennies in the bushes as "useless".

Better yet toss them in cupholder or desk until you have 20-50, then sprinkle around outside and office or home window where you at least get some entertainment.

I have been doing this at work for 25 years, I call it "feeding the lot" that feeds me. I do keep all copper pennies though

the government is to busy printing up trillion dollar bills.

I got something in the mail this week from a bank I do not have an account at offering free coin counting. I have a jug filled with a couple hundred bucks in change so I might take them up on it. Or at least go to my own bank and if they don't exchange it for free I'll shove the post card in their face!

My stash of coins is growing, as it used to get emptied into the church plate every week. Then everything was shut down for the Wuhu flu. Now, even though the church resumed in-person service, the stash is still growing. We're homebound - the wife got a new hip for her birthday, and we're taking it easy.

When the pile does go in the plate, they're going to need a bucket to hold it.

I have had a 5 gallon jug full of coins for couple years because banks don't have the equipment to count and I don't have a desire to do it myself.