|
spirit_shadow
Feature not a bug



Registered: 08/15/11
Posts: 25,996
Last seen: 1 hour, 17 minutes
|
Where are all the coins?
#26826737 - 07/16/20 10:51 AM (3 years, 6 months ago) |
|
|
I was gonna put this in conspiracy but it's not a theory it is just a question. So if the normal lifespan of coins are 30 years where are all the coins? I dont see how a shortage is possible.
-------------------- Those content with the least have the most.....(this account is automated, all posts related to illegal activities or advice thereof are strictly from numerous online sites and are for informational purposes only)- Circa 2011 Ban lotto
|
1234go
Ban Lotto Champion


Registered: 07/08/09
Posts: 54,405
|
|
I just tried googling it, but the internet is too slow right now, and I gave up...
|
Dilsnique
Admiral Admirable


Registered: 04/22/14
Posts: 3,800
Loc: Netherworld
Last seen: 1 year, 5 months
|
|
Big Brother needs to know and have records of every transaction made by every citizen to keep this country safe and secure. Big Brother needs all the working class to be taxed correctly. Big Brother needs a cashless society in order to do this. The coins will be the first to go.
|
psi
TOAST N' JAM


Registered: 09/05/99
Posts: 31,458
Loc: 613
|
|
I have a lot of them.
When coins actively circulate though it's often only briefly, and eventually they end up in the hands of someone who doesn't spend them or take them to the bank and just keeps them somewhere for years, maybe even until they die. This is how silver coins still manage to enter circulation.
|
spirit_shadow
Feature not a bug



Registered: 08/15/11
Posts: 25,996
Last seen: 1 hour, 17 minutes
|
Re: Where are all the coins? [Re: psi]
#26826786 - 07/16/20 11:13 AM (3 years, 6 months ago) |
|
|
I mean logically banks send coins into the public(circulation), people get coins, people spend coins, coins go back to bank and then repeats right? Well where are they if there is a shortage then?
-------------------- Those content with the least have the most.....(this account is automated, all posts related to illegal activities or advice thereof are strictly from numerous online sites and are for informational purposes only)- Circa 2011 Ban lotto
Edited by spirit_shadow (07/16/20 11:14 AM)
|
1234go
Ban Lotto Champion


Registered: 07/08/09
Posts: 54,405
|
|
Quote:
The United States is seeing a national coin shortage because of the COVID-19 pandemic. You may have seen signs at chain restaurants or grocery stores asking for exact change. It’s not just out of convenience - it may be because they don’t have any change to give back to you.
“There is no conspiracy here,” says Matt Finn, chief economist at Old National bank. “It’s simply another effect of the coronavirus.”
According to Finn, there is about $48 billion of coinage in the United States. Right now, however, it may be hard to come by.
Finn says that’s because the U.S. Mint had slowed production of coins because of the coronavirus. Plus, fewer people have been using coins at places like vending machines, laundromats and car washes.
The coin circulation depends on those places regularly, depositing coins to the bank.
“The bank sends it to the federal reserve and redistributes it, based on need,” says Finn. “Well the problem is when people stop going to those places and people stop going to the bank - all that velocity of money, all that exchange of coinage slowed down.”
inn compares this shortage to the toilet paper shortage we saw earlier this year. When people change their spending habits rather quickly, the system pays the price.
“What economists hope is that when the country opens up again and businesses get back to normal, the problem should fix itself,” says Finn. “But until that happens, it could get worse.”
Finn says the Federal Reserve has started a U.S. Coin Task Force to accelerate the circulation of coinage. When asked what individuals can do to help the circulation, Finn advises paying with exact change whenever you can.
https://www.14news.com/2020/07/14/chief-economist-explains-national-coin-shortage/
|
Dilsnique
Admiral Admirable


Registered: 04/22/14
Posts: 3,800
Loc: Netherworld
Last seen: 1 year, 5 months
|
|
The Federal Reserve Task Force is on it! LOL!!! Seems the "professionals" are blaming the virus for the coin shortage. If this was the case, wouldn't this affect all cash and not just coins?
|
cannabinated



Registered: 01/03/13
Posts: 14,743
Loc: Outside
|
Re: Where are all the coins? [Re: Dilsnique]
#26826811 - 07/16/20 11:25 AM (3 years, 6 months ago) |
|
|
theyre in the couches
nobody uses them
|
The Blind Ass
Bodhi



Registered: 08/16/16
Posts: 26,732
Loc: The Primordial Mind
|
|
Quote:
cannabinated said: theyre in the couches
nobody uses them
-------------------- Give me Liberty caps -or- give me Death caps
|
spirit_shadow
Feature not a bug



Registered: 08/15/11
Posts: 25,996
Last seen: 1 hour, 17 minutes
|
|
No Way. Especially with more out of jobs there should be an INCREASE in coins. All the cig smokers alone should supply the whole country in coins.
-------------------- Those content with the least have the most.....(this account is automated, all posts related to illegal activities or advice thereof are strictly from numerous online sites and are for informational purposes only)- Circa 2011 Ban lotto
|
cannabinated



Registered: 01/03/13
Posts: 14,743
Loc: Outside
|
|
u realise the population of cig smokers is at an all time low
|
spirit_shadow
Feature not a bug



Registered: 08/15/11
Posts: 25,996
Last seen: 1 hour, 17 minutes
|
|
Yeah it was an exaggerated example but the premise still stands. If the lifespan is 30 years on average for a coin where have they all ended up because they should still be in circulation. And if people were hoarding them on the norm we would have shortages more often.
-------------------- Those content with the least have the most.....(this account is automated, all posts related to illegal activities or advice thereof are strictly from numerous online sites and are for informational purposes only)- Circa 2011 Ban lotto
Edited by spirit_shadow (07/16/20 12:30 PM)
|
Niffla



Registered: 06/09/08
Posts: 46,783
Loc: Texas
|
|
Quote:
spirit_shadow said: No Way. Especially with more out of jobs there should be an INCREASE in coins. All the cig smokers alone should supply the whole country in coins.
I buy cigs but 99 out of 100 of my cig transactions are done via debit card
--------------------
HAIL OUR NEW OTD KING
|
ichugwindex
Dex



Registered: 06/04/16
Posts: 4,613
Loc: ¯\_(ツ)_/¯
Last seen: 11 months, 20 days
|
Re: Where are all the coins? [Re: Niffla] 1
#26826987 - 07/16/20 01:18 PM (3 years, 6 months ago) |
|
|
-------------------- Only hope can give rise to the emotion we call despair. But it is nearly impossible for a man to try to live without hope, so I guess that leaves Man no choice but to walk around with despair as his companion.
|
trees


Registered: 02/08/09
Posts: 9,202
|
Re: Where are all the coins? [Re: ichugwindex] 1
#26827084 - 07/16/20 02:15 PM (3 years, 6 months ago) |
|
|
What if there are hoarders who found out that coins are the best way to hedge inflation and depreciation of money
--------------------
|
Niffla



Registered: 06/09/08
Posts: 46,783
Loc: Texas
|
Re: Where are all the coins? [Re: trees]
#26827095 - 07/16/20 02:25 PM (3 years, 6 months ago) |
|
|
Quote:
trees said: What if there are hoarders who found out that coins are the best way to hedge inflation and depreciation of money
--------------------
HAIL OUR NEW OTD KING
|
spirit_shadow
Feature not a bug



Registered: 08/15/11
Posts: 25,996
Last seen: 1 hour, 17 minutes
|
Re: Where are all the coins? [Re: Niffla]
#26827100 - 07/16/20 02:29 PM (3 years, 6 months ago) |
|
|
I mean did they use the coins for the stimulus checks?
-------------------- Those content with the least have the most.....(this account is automated, all posts related to illegal activities or advice thereof are strictly from numerous online sites and are for informational purposes only)- Circa 2011 Ban lotto
|
psi
TOAST N' JAM


Registered: 09/05/99
Posts: 31,458
Loc: 613
|
Re: Where are all the coins? [Re: trees]
#26827103 - 07/16/20 02:30 PM (3 years, 6 months ago) |
|
|
Quote:
trees said: What if there are hoarders who found out that coins are the best way to hedge inflation and depreciation of money
http://realcent.org/
|
Cujllickduo



Registered: 06/13/15
Posts: 19,552
Loc: England
Last seen: 3 years, 6 months
|
Re: Where are all the coins? [Re: psi] 1
#26827226 - 07/16/20 03:35 PM (3 years, 6 months ago) |
|
|
Buzz sexy Illinoisan see it's just goal I'm getting a grip I see you for really reached
|
nooneman


Registered: 04/24/09
Posts: 14,593
Loc: Utah
|
|
I posted this in another similar thread, but I'll post it here too:
It makes sense: physical stores are closed, so they're not taking in any coins (or distributing any), and they're not cycling coins back to the bank. People aren't using vending machines or anything either. So all the coins are sitting there and not in circulation.
This thread is making me want to hoard the spare change in my car
|
|