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  #21  
Old 06-30-2020, 12:33 PM
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Article on the coin shortage National coin shortage may affect how you can pay at Meijer, Lowes and other retailers
By Mary Kilpatrick, cleveland.com 46 mins ago






National coin shortage may affect how you can pay at Meijer, Lowes and other retailers


CLEVELAND, Ohio — Coronavirus is causing a shortage of U.S. coins, and retailers are changing their policies to adapt. Banks, too, are watching the situation closely.

The Federal Reserve, which distributes coins to banks and credit unions, said the pandemic has “significantly disrupted the supply chain and normal circulation patterns for U.S. coin,” in a news release this month.
The U.S. Mint has slowed coin production to protect workers. During the height of the shutdown, fewer coins came back to the Federal Reserve from banks.
As states have reopened, banks began asking for more coins, “resulting in the Federal Reserve’s coin inventory being reduced to below normal levels,” the news release said.
The Fed this month began temporarily giving banks a set amount of available coins, based on factors including historic order volume, and the current U.S. Mint manufacturing rate. The limits could be reviewed and changed in the future.
Retailers like Meijer are temporarily limiting the use of cash in most of its stores to help offset the coin shortage. Shoppers can largely only use cash at an in-person checkout line. Self-checkout machines are limited to credit and debit cards.
“While we understand this effort may be frustrating to some customers, it’s necessary to manage the impact of the coin shortage on our stores,” Meijer spokesman Frank Guglielmi said in an email.
A sign at Lowe’s in Fairlawn over the weekend read: “Attention customers: The U.S. is currently experiencing a coin shortage. Please use correct change or other forms of tender if possible.”
KeyBank said it’s monitoring the coin shortage and has guidelines in place to help manage coin circulation.
The bank said it “will continue to work to minimize the impact on our clients.”
The Fed suggests that banks only order the coins they need and allow customers to deposit rolls of coins again to help combat the shortage.
———
©2020 The Plain Dealer, Cleveland

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  #22  
Old 06-30-2020, 03:17 PM
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Originally Posted by amc rulz View post
They aren’t taking cash here, “there’s a coin shortage”.
No coin shortage here, I just pumped coins into Safeway's machine for food, even ugly saltwater eaten coins.

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  #23  
Old 06-30-2020, 06:01 PM
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Originally Posted by metaladdict View post
No coin shortage here, I just pumped coins into Safeway's machine for food, even ugly saltwater eaten coins.
You mean, there’s no coin shortage any more!

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  #24  
Old 07-01-2020, 06:39 AM
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“We’re not accepting coins, there’s a shortage!”

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  #25  
Old 07-01-2020, 09:38 AM
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Originally Posted by davidlhyde63366 View post
Article on the coin shortage National coin shortage may affect how you can pay at Meijer, Lowes and other retailers

By Mary Kilpatrick, cleveland.com 46 mins ago
The U.S. Mint has slowed coin production to protect workers.
OK, I can see that. Makes sense.

Originally Posted by davidlhyde63366 View post
During the height of the shutdown, fewer coins came back to the Federal Reserve from banks.
———
©2020 The Plain Dealer, Cleveland
This is the statement that throws me. Why do the coins have to "go back" to the reserve? Isn't the whole point of minting, and releasing them into circulation, to allow them to [I]circulate[I]? If they're in circulation, how can there be a shortage, unless the FED is causing the shortage by not allowing them to circulate?

None of it makes sense to my brain.

Roger
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  #26  
Old 07-01-2020, 01:49 PM
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My bro works at Meijer and told me today they are not accepting cash, period.

FYI, I’ve never owned a debit card. Never needed one.

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  #27  
Old 07-02-2020, 02:12 PM
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A local convenience store here has started buying coins. I was buying gas and had to wait while a woman and her daughters sold about ten dollars worth of change and they counted it out.

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  #28  
Old 07-06-2020, 11:33 AM
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another article n the coin shortage affecting stores https://www.msn.com/en-us/money/news...rtan-dhp-feeds

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  #29  
Old 07-06-2020, 12:25 PM
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Never a good economic indicator if you see people paying for things will all coin. I always have patience for people doing this, obviously they are not in good shape...

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  #30  
Old 07-06-2020, 09:05 PM
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Our credit union's lobby was still closed last time I was home , sure a lot of banks are in the same position so their coin sorters are not getting used. Spending much of my time in Florida now , so if they are reopen when I get back will cash in my clad from several years and release those discolored coins back into circulation.. Don't want to pay a fee on Coinstar unless I need to. Maybe get my self a new toy with the money.

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  #31  
Old 07-07-2020, 09:46 AM
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Originally Posted by zeemang View post
Never a good economic indicator if you see people paying for things will all coin. I always have patience for people doing this, obviously they are not in good shape...
Do stores have to accept a pile of coins for payment?
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  #32  
Old 07-07-2020, 10:16 AM
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Yesterday the merchant had a sign "either use a card or exact change". I didn't want to use a card, so I overpaid by 8 cents. It is all bizarre really. Due to the virus, I don't typically ask for small change in return anyway.

I've got a huge jar full of dirty clad if they want that

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  #33  
Old 07-07-2020, 12:02 PM
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Originally Posted by Martin_V3i View post
Do stores have to accept a pile of coins for payment?
I'm not sure if they HAVE to accept coins as payment legally, but it's something I am seeing down here more frequently in the past few months...
You know people are hurting when you see them buying bread and milk with coins.

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  #34  
Old 07-07-2020, 06:04 PM
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Originally Posted by Martin_V3i View post
Do stores have to accept a pile of coins for payment?
They don’t have to accept anything they don’t want.

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  #35  
Old 07-08-2020, 02:58 PM
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another thread on the subject http://metaldetectingforum.com/showthread.php?t=284000

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  #36  
Old 07-09-2020, 10:30 AM
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A couple of months ago a seasonal food stand opened and when I called in my order they told me I had to pay with a credit card. I told them that I would not do that and if they wanted my business they would have to accept my cash. They took the cash.

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  #37  
Old 07-09-2020, 10:32 AM
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Originally Posted by Martin_V3i View post
Do stores have to accept a pile of coins for payment?
Some years ago I read that coins have to be accepted for payment except for pennies. I don't know if that has changed though.

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  #38  
Old 07-10-2020, 05:56 AM
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From the Fed reserve website:

“ There is, however, no Federal statute mandating that a private business, a person, or an organization must accept currency or coins as payment for goods or services. Private businesses are free to develop their own policies on whether to accept cash unless there is a state law which says otherwise.”

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  #39  
Old 07-10-2020, 12:16 PM
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Several grocery stores in my area have shut down their Coinstars and are cashing out change at their service counters for no fee.
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  #40  
Old 07-10-2020, 12:34 PM
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Originally Posted by El Cheapo View post
Several grocery stores in my area have shut down their Coinstars and are cashing out change at their service counters for no fee.
Coinstar must not be happy about that lose of revenue , maybe they should sell the coins directly to the store them selves.

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