I honestly don't know how aluminum cans have anything to do with a coin shortage. Cans aren't re-used.
Back to topic...I have not seen any coin issue whatsoever in my area yet. Perhaps there is more use of cards/debit? I don't know.
The credit union I use has a coin sorting machine free for member use. I have yet to see anything asking to bring in coins, but at the same time they just recently re-opened the lobby areas.
Nationwide Coin Shortage
Re: Nationwide Coin Shortage
I went to Walmart and the registers had no coins. It is that bad. People across the country need to bring out their change and start paying in exact change. The coins are all home. The vast majority of coins are held by senior citizens and they are the group that is at home and not leaving the house.
We need to get those coins back in circulation.
We need to get those coins back in circulation.
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Re: Nationwide Coin Shortage
I'd suspect it's not such an issue, since while they need some to start with, most of what they give out goes back into the machines (and then they can take it out and reuse for the next customer).storewanderer wrote: ↑July 11th, 2020, 9:08 pm I wonder how coin operated businesses like laundromats are handling this. Also those little candy machines or carnival rides at some grocery stores that are coin operated.
Probably true, but it wouldn't take much if you had a bunch of coins to dump them in a sink and give them a washing to eliminate that problem.TW-Upstate NY wrote: ↑July 12th, 2020, 8:50 am Getting back to coins, I hear you about not wanting to handle them. I've got a pouch I put my change in when I'm shopping and empty it twice a year and wrap the coins and eventually take them to the bank-haven't done that since December and won't be doing that anytime soon. And honestly coins themselves, even before this, are just inherently dirty by their very nature. Just think about how many hands they've gone through before you get them and how many they will after you use it.
That was a separate problem - it might just be that while not reused directly, the new cans are often made from recycled metal. Thus, when stores (in those states where deposits exist) stopped taking returns, those cans were stuck at people's houses and not getting back to the recycling facilities to be made into new ones.
Re: Nationwide Coin Shortage
People are definitely hoarding money right now. People are being frugal and keeping money at home. It is a perfect storm of many different problems that is causing the shortage.
People are afraid to touch coins out of fear of germs as well as people spending less at businesses that use coins. Laundromats are seeing fewer customers. People are out of work and they do not need to do as much laundry. People have less money and they are not patronizing expensive vending machines. Those machines are major sources of money at laundromats, break rooms at workplaces, gyms, malls, etc. With gyms, malls, and workplaces closed the vending machines are not taking in coins and they are not going back to the banks.
Coins are not circulating. Even Coinstar is seeing fewer customers turning in coins. Mints are not at full production, etc.
I went to Walmart again, and they are running out of coins. In fact, they are holding coin collections for donating to charity. They are trying to get coins anyway they can.
People are afraid to touch coins out of fear of germs as well as people spending less at businesses that use coins. Laundromats are seeing fewer customers. People are out of work and they do not need to do as much laundry. People have less money and they are not patronizing expensive vending machines. Those machines are major sources of money at laundromats, break rooms at workplaces, gyms, malls, etc. With gyms, malls, and workplaces closed the vending machines are not taking in coins and they are not going back to the banks.
Coins are not circulating. Even Coinstar is seeing fewer customers turning in coins. Mints are not at full production, etc.
I went to Walmart again, and they are running out of coins. In fact, they are holding coin collections for donating to charity. They are trying to get coins anyway they can.