quote:

the grocery stores commonly rounded up or down at the register to reduce small coin usage.

We had a large chain gas station that was issuing all coin change in the form of a receipt with a bar code. On your next visit (or whenever) they would scan your receipt(s) and deduct that amount from your purchase.

quote:

costs something like 10% to use it.

I was offering $9 in change for a $10 bill. Supply and demand due to the "shortage".

quote:

Originally posted by Flash-LB:
Some of our local supermarkets have machines you can dump your coins in and get cash, but it costs something like 10% to use it.

It can pay to check the specific details on these machines.

Many of them have multiple options for redemption, which can be stuff like:
-Cash (10% fee)
-Gift card for the supermarket (no fee)
-Amazon gift card (no fee)
Etc.

So it's possible to avoid any fee, depending on how you redeem the coins.

If you're going to be buying groceries at that store anyway, or you're going to be shopping at Amazon anyway, the no-fee gift card option can make the most sense (and the most cents).

quote:

Originally posted by Schmelby:
A while back it was said there's a coin shortage. Like a lot of people
I pay for most things with cash, I come home every day with change.
I asked the bank if they still had coin counters. Nope too expensive.
I rolled up over five thousand quarters. I still have probably 200
hundred pounds of nickels,dimes and pennies. Don't know about them.

Off-topic, but did you pull out any "W" mint mark 2019 or 2020 Quarters when you rolled them all? Free money if you do. Raw 2019 or 2020 West Point mint quarters selling for $9-15 each all day long......
If you find the 2019 American Memorial Park or 2020 Marsh Rockefeller designs, they are over that range.

If anything, this thread has made me realize I'm a bit foolish: I use a minimalist wallet. But I carry that in a sling bag. And in a sling bag, I have a second wallet for my backup bills and credit cards.

But in the minimalist wallet, I carry only a couple of $5 and $20. I try not to carry $1 bills.

In the backup wallet, I have additional $5, $20, and any $100 bills that I may have at the moment. I only get $100 bills if I have a specific purpose for them.

So, for jurisprudence nerds, there have been some interesting cases arguing that paper money is unconstitutional. The dicta was “You’re right, but it’s a bit late.”

I’m not sure a digital currency would be viewed as constitutional, especially if it has the tracking which we know the cronies will demand.

quote:

Originally posted by Aglifter:

I’m not sure a digital currency would be viewed as constitutional, especially if it has the tracking which we know the cronies will demand.

It's not just the ability to track activity and purchases. There is also a real desire to implement a system of digital credits of sorts and do away with currency altogether. What does that mean? It means you won't simply be able to buy whatever you want or how much you want. Went to the liquor store three times this month? Sorry, that's your limit; no more alcohol for you until the next month. Buying too much red meat at the grocery store? Well, now you better buy chicken because your red meat limit for the month has been reached. Buying too much gas for personal use? You get the idea.

You might think this sounds ridiculous, but it is what they want to do. Just look at China. And on that point, with a digital credit system there will also be a social credit system that will affect what and how much you can buy.

Fellas, we must fight with everything we have if our government ever tries to do away with hard currency.

quote:

Originally posted by PghPI:

quote:

Originally posted by Schmelby:
A while back it was said there's a coin shortage. Like a lot of people
I pay for most things with cash, I come home every day with change.
I asked the bank if they still had coin counters. Nope too expensive.
I rolled up over five thousand quarters. I still have probably 200
hundred pounds of nickels,dimes and pennies. Don't know about them.

Off-topic, but did you pull out any "W" mint mark 2019 or 2020 Quarters when you rolled them all? Free money if you do. Raw 2019 or 2020 West Point mint quarters selling for $9-15 each all day long......
If you find the 2019 American Memorial Park or 2020 Marsh Rockefeller designs, they are over that range.

Didn't think about that. A member was looking for some specific ones a while ago.
I found a couple and sent them to him.

Pennies should be eliminated. They have already changed the manufacture of the penny because the value of the copper in the older penny exceeded the face value of the coin.

Even with the current penny being minted (97.5% zinc, 2.5% copper) with commodity prices rising, the value of the metals once again exceeds the face value of the coin.

Id like to see the $1 bill eliminated in favor of a $1 coin...just not the Susan B Anthony that is almost the same form factor as a quarter.

The UK has a 1 pound coin that has undergone several iterations but I think its the same form factor, about the diameter of a nickel, gold-tinted (since 2017 has silver color inset) and about 2- 3x thicker than a nickel. I always liked those. Something similar in the US would be very cool

quote:

Originally posted by Jimbo Jones:
Pennies should be eliminated. They have already changed the manufacture of the penny because the value of the copper in the older penny exceeded the face value of the coin.

Even with the current penny being minted (97.5% zinc, 2.5% copper) with commodity prices rising, the value of the metals once again exceeds the face value of the coin.

Id like to see the $1 bill eliminated in favor of a $1 coin...just not the Susan B Anthony that is almost the same form factor as a quarter.

The UK has a 1 pound coin that has undergone several iterations but I think its the same form factor, about the diameter of a nickel, gold-tinted (since 2017 has silver color inset) and about 2- 3x thicker than a nickel. I always liked those. Something similar in the US would be very cool

The US used to have a $1 coin, the "silver Dollar". I think they were about 90% silver and the rest something else. Just the silver in those would be worth more than $22 today. I liked the size of them (have a dozen of them somewhere), but they'd have to be made of some very inexpensive metal these days--not sure what that would be. I would not like plastic.

The government has tried several times to resurrect a $1 coin, but they were not popular. The Susan B. Anthonny Dollar was not liked because it was about the same size as a Quarter, and easily confused (even though they were gold color). Other attempts have also been unsuccessful, largely because $1 paper currency is still in use. Other countries with similar value coins have eliminated the paper version of those denominations, but the US has not.

flashguy

quote:

Originally posted by Jimbo Jones:
Id like to see the $1 bill eliminated in favor of a $1 coin...just not the Susan B Anthony that is almost the same form factor as a quarter.

They've already tried that, multiple times, since the Susan B. Anthony dollar coins.

They tried it with the gold-colored Sacagewea dollar coin introduced in 2000.


They tried it again with the gold-colored Washington dollar coin introduced in 2007.


These, as with all dollar coins offered since the mid-1900s, were complete flops. Therefore, since 2011, they haven't bothered to mint any further dollar coins for circulation, only as collectibles.

They're currently minting a newer type of American Innovation dollar coin, but these still aren't being issued for general circulation due to lack of customer interest.


If you want some of these Innovation dollar coins to use, you can order them (at a premium) from the US Mint. They're still legal tender, they'll just cost you more than $1 apiece.

Or you can sometimes still get older circulated Sacagewea or Washington dollar coins through your local bank at face value.

quote:

Originally posted by flashguy:
The US used to have a $1 coin, the "silver Dollar". I think they were about 90% silver and the rest something else. Just the silver in those would be worth more than $22 today.

Yep. Morgan Dollars, which stopped being minted in 1921, and Peace Dollars, which stopped being minted in 1935. These had 90% silver content, as did all pre-1965 coins.

The US still mints "Silver Dollars" these days, known as Silver Eagles. These contain 1 troy ounce of silver (worth ~$25 currently), but still have a face value of just $1. However, unlike the original Morgan/Peace silver dollars, they're no longer designed for circulation or to be spent at face value... They're intended for precious metal collectors/investors, and are extremely popular these days.

quote:

The Susan B. Anthonny Dollar was not liked because it was about the same size as a Quarter, and easily confused (even though they were gold color).

I think you're confusing them with the newer golden-colored Sacagawea/Washington dollar coins. Susan B. Anthony dollar coins were silver-colored.



There was also a predecessor to the Susan B. Anthony in the Eisenhower dollar coin, offered from 1971–1978.

quote:

Originally posted by Rey HRH:
If anything, this thread has made me realize I'm a bit foolish: I use a minimalist wallet. But I carry that in a sling bag. And in a sling bag, I have a second wallet for my backup bills and credit cards.

But in the minimalist wallet, I carry only a couple of $5 and $20. I try not to carry $1 bills.

In the backup wallet, I have additional $5, $20, and any $100 bills that I may have at the moment. I only get $100 bills if I have a specific purpose for them.

I only carry a minimalist wallet, but I usually carry $200.00 or $300.00 or so in the clip on the back of it.

Rogue, you are correct. I did confuse the SBA and Sacagawea coins. I never had any of them, except a few obtained at the Post Office in change.

flashguy

It will be. Most of the "currency" in circulation at this point is already digital.

quote:

Originally posted by Aglifter:
So, for jurisprudence nerds, there have been some interesting cases arguing that paper money is unconstitutional. The dicta was “You’re right, but it’s a bit late.”

I’m not sure a digital currency would be viewed as constitutional, especially if it has the tracking which we know the cronies will demand.

quote:

Originally posted by Balzé Halzé:
[QUOTE]Originally posted by RogueJSK:


For everyone's sake, we better pray that hard currency never goes away. It is absolutely shocking to me how shortsighted people are on this. If you are in favor of a digital only currency, you simply have not thought it through.

God help us if that day comes.

And I always carry cash. I typically have at least $500 on me and usually more than $1,000.

Yes, pray hard that we do not go digital. I know there are like minded Christians that believe what comes with it is the mark of the beast.

Originally posted by Jimbo Jones:

“I’d like to see the $1 bill eliminated in favor of a $1 coin...just not the Susan B Anthony that is almost the same form factor as a quarter.

“They've already tried that, multiple times, since the Susan B. Anthony dollar coins.

“They tried it with the gold-colored Sacagewea dollar coin introduced in 2000.

“They tried it again with the gold-colored Washington dollar coin introduced in 2007.

“These, as with all dollar coins offered since the mid-1900s, were complete flops. Therefore, since 2011, they haven't bothered to mint any further dollar coins”.


The absolute #1 reason for the failure of circulating $1 coins to gain acceptance was because the Treasury (FedRes) refused to stop printing the $1 bill/note.

In other countries (Canada, Britain, Euro zone, Australia, New Zealand, etc.) the smallest denomination paper is the “Fiver” ($5, £5, €5, etc), with 1- and 2-unit denominations being coins.

And yes, get rid of the 1¢ piece, as it costs 2¢ to mint; and the nickel (5¢) needs to be copper-plated steel.

Spent a week in Canada using cash and the coins I managed to collect in my pocket got quite heavy.

These days I get cash once a month for a haircut. I never know what’s in my wallet in cash but it’s never much. I don’t use it any other time.

Another issue with the dollar coin was function in vending machines.

For those who don't ever have any cash on hand.

What will you do if the power ever goes out, or China/Russia whomever attacks the internet? Cards won't work. Bank's won't be handing out money. Then what?

quote:

Originally posted by a1abdj:
For those who don't ever have any cash on hand.

What will you do if the power ever goes out, or China/Russia whomever attacks the internet? Cards won't work. Bank's won't be handing out money. Then what?

Then they'll bitch, moan and whine about how unfair life is to them and demand free stuff.

Personally, I have a few thousand in cash in the safe at any given time for "shit happens". Or more often to use as a convenient "home ATM" when paying tradesmen who prefer cash payments, or doing a face to face private purchase on a firearm, before replenishing my cash stash from the bank at my convenience.

But I rarely ever carry cash around to use on a daily basis. Electronic payments are just that much more convenient.

Best of both worlds.