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So I hear there is a coin shortage these days in the US? Oh really? Login/Join 
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quote:
Originally posted by Dwill104:
Not surprised they got rid of coin counters at the bank. I doubt hardly anyone was bringing in a bunch of change until now, so they were probably rarely used. Even now, there are probably few people turning in lots of coins; you’re probably an exception, OP.


Our credit union still has the coin counter. Might try a credit union and see if they will help out.

Several years ago, when my brother and I were cleaning out our mom's house after she died, we found plastic bottles filled with coins. Decided to turn them in for folding money. Turns out there were 2 five gallon cans full of change. More than $1000!

I have no idea why there is a coin shortage in the US. Is someone melting them down for the silver content?
 
Posts: 1010 | Location: Northern Virginia | Registered: October 22, 2007Reply With QuoteReport This Post
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Maybe 27-ish years ago, back before coin machines were common around here, my buddy had an ice cream truck. I went in his basement one day and there were 8 or 9 five gallon buckets full to the top with change. I looked at him and he shrugged his shoulders. I said "There's got to be a couple thousand dollars here!" He just said.. "I can't. I just can't do it anymore." (referring to counting and rolling coins)


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Posts: 21105 | Location: 18th & Fairfax  | Registered: May 17, 2003Reply With QuoteReport This Post
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There is no coin shortage; it is is distribution and circulation issue.

Notice the below listed production figures for 2020 thru July: out of 8.22 BILLION coins minted, 4.36 BILLION were for the WORTHLESS 1¢ piece; 53% of the entire year’s production. It costs 1.3¢ each to mint the 1¢ coin (100 1¢ pieces cost $1.30 to mint) !!!!

https://www.coinworld.com/news...ent-on-coin-shortage

Coins struck for general circulation in conjunction with the Federal Reserve orders are produced at just the Philadelphia and Denver Mints.

As of Aug. 6, the U.S. Mint recorded production of 8,221,420,000 coins — 4,287,800,000 coins struck at the Denver Mint and 3,933,620,000 coins at the Philadelphia Mint.

The output reflects:
➤ Cents: 2,339,600,000 struck at the Denver Mint; 2,021,600,000 struck at the Philadelphia Mint.
➤ 5-cent coins: 439,44,000 in Denver; 396,720,000 in Philadelphia.
➤ Dimes: 762,500,000, Denver; 727,000,000, Philadelphia.
➤ Quarter dollars: 743,200,000 struck at the Denver Mint; 784,600,000 struck at the Philadelphia Mint.

The overall totals also include the circulation quality strikes for Kennedy half dollars and Native American dollars, although neither series is released into general circulation; each is only produced for numismatic sales at premiums above face value.

Production reflects 1.8 million half dollars at Denver and 2.3 million at Philadelphia, as well as 1.26 million Native American dollars at Denver and 1.4 million at Philadelphia.

This message has been edited. Last edited by: 2BobTanner,


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Posts: 2699 | Location: Falls of the Ohio River, Kain-tuk-e | Registered: January 13, 2005Reply With QuoteReport This Post
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