The United States Mint has released the Public Service Announcement (PSA) below addressing the circulation issues causing the current coin shortage.
Ryder explains the coin shortage as “right now, coins aren’t circulating through the economy as quickly as they were prior to the COVID-19 pandemic, which means that sometimes coins are not readily available where needed. This is NOT a coin supply problem. It’s a circulation problem.”
Ryder also praised the efforts of the Mint workforce, stating “I want to assure you that the men and women of the Mint workforce are working as hard as we possibly can to get newly produced coins into the economy. In fact, we are on track to mint more coins this year than we have produced in almost 20 years.”
As always, and especially during this challenging time, the Mint is committed to supporting our Nation’s economy and commerce through the production of circulating coinage.
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About the United States Mint
The US Mint was created by Congress in 1792 and became part of the Department of the Treasury in 1873. It is the Nation’s sole manufacturer of legal tender coinage and is responsible for producing circulating coinage for the Nation to conduct its trade and commerce.
The United States Mint also produces numismatic products, including proof, uncirculated, and commemorative coins; Congressional Gold Medals; and silver and gold bullion coins. The Mint’s numismatic programs are self-sustaining and operate at no cost to taxpayers.
The banks need to open so we can walk coin rolls in. Cannot exchange coins at ATM or thru drive thru air-tubes. After several days ok trying I just took my rolls directly to a major retailer who took them gladly.
The coin kiosk are closed. Some one might want to find out why. If we are to cash our coins in. Banks in Oklahoma send it off. So I just keep my coins.
Yeah,If you dont have an account with a bank,you are just s ..o ..o.. luck,because they will tell you they cant take your coins unless you have an account with them.And alot of your stores frown at taking them. And all the kiosk machines charge you to take them me myself,I cant afford to just give my money away like that,times are to tough right now.
If it was THAT big of a deal the mint would put a couple of change counting machines in the back of a truck and go to cities and have coin drives, or just promote it at reserve banks, or go door to door asking for change with cash in hand. It wouldn’t be all that hard to solve this “problem” with a bit of motivation.
Smaller Mom and Pop shops would be more likely to take them off your hands. particularly if you shop there regularly.
1 it would be much easier if they would weigh the coins rather than have us roll them up which is tedious
Well you have to think about this a bank cannt take someones word on what in a bag of coins. If they did someone could just say I have all quarters but in reality most of the stuff in the bag is just a smaller denomination and they lose money and not all coins weigh the same.
At my bank you can take in a bucket of loose coins and they dump them in a machine that sorts and counts them.
It’s all bs. They are stripping the final bit of wealth out of the country. One coin at a time. Can’t have mine, I saved them for a reason.
They are gonna change the money by next year. Back to sound money, not this worthless bs paper money we use to get stuff. The rest of the world will stop giving up goods for worthless paper. Then we will have nothing.
You can’t just print trillions and expect them to be worth anything.
Scarcity in coins to me means, worth way more than face. It’s all about purchase power. Paper has none.
It’s great to see reports of coin shortages and places crying out for coins, and then see the machine that charges you a fee to take your coins.
If coins are in such demand they should be offering a premium. Give someone $55 for $50 worth of coins and you’ll get them. Give someone $45 for $50 worth of coins and watch them stay in a bucket in the closet.
I believe in not shortage im a coin collector buy on eBay, Amazon, and I can go to bank and purchase coins by box which I have been your right just another government bS
I might have been born at night, but I wasn’t born last night. You ever notice how it’s always the people’s fault and the government is never accountable for any of the problems… a lot of people say they’re printing more Fiat what they’ve been doing for the longest time is just creating money out of thin air on computer screens at Banks.
Because fiat currency is about to go to 0 I would assume the Federal Reserve Bank is taking the coinage out of circulation themselves. The Federal Reserve Bank is never audited and you as a citizen of this country will never know the truth.
If their goal is to get people to hoard, and buy more from the mint based on rumors of scarcity it is working…lol. You never can tell… I like coins, so I collect them when I can anyway… If people get down to the last of their money they will use pocket change and not be able to hold onto it like the media is claiming… We’ll see…lol.
Not gonna turn in one coin I smell a scam.
Any Pilot truckstop will gladly take your coins in a bag, and run them thru their coin counter behind the cashier, at no cost, and pay you in paper money. Some, like one in OH, I-71 exit 204, for any amount exceeding $100, will give you a 5% store credit on total amount. Folks, they really need and want your change, so they can conduct everyday business. I am a truck driver, and dumped my $1200 in coins at Pilot. I had a huge piggy bank, full at right time, and did not have to roll or get ripped off at a coin kiosk. Geo
The coin counting kiosks at the grocery store should do their part and not charge a fee for counting coins during the COVID pandemic.
Was just at Walmart cashing in a little bit yesterday and the manager steps out after I dumped in $40 worth to a Coinstar machine and says if you got anymore you can give them to the customer service people and we will cash them in and not charge you anything for our machines..thanks but should have told me before it cost me 5.45 in fees..but least it’s a heads up for everyone else..