Coin "shortage"
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  1. #1
    us
    Apr 2013
    Iowa
    23
    5 times
    Coin Roll Hunting

    Coin "shortage"

    Saw this and thought of the group's struggles to get coins to their dump banks.

    Your 2 Cents Worth? Not Right Now, As There?s a Coin Shortage / Fresh Today / CUToday.info - CU Today
    PetesPockets55 likes this.
    2014 CRH Stats
    0 - 90% Half
    0 - 40% Half
    1 - Wheat
    47 - Pre-82 Copper
    2 - 2009 Pennies

    Total hunted $27.00

    Updated 7/8/2014

  2. #2
    us
    Sep 2008
    Inland NW
    Ace 250
    451
    144 times
    All Types Of Treasure Hunting
    My CU put me on notice a few says ago, said they don't have enough coin to supply businesses and will have to curtail box-coin orders until further notice.

    Luckily I have another CU that not many CRHs use apparently. They were happy to full my order for this week.
    PetesPockets55 likes this.
    -Airborne1092

    bellum est praesto

  3. #3
    us
    Apr 2005
    North Carolina
    Garrett AT Gold
    6,305
    2494 times
    All Types Of Treasure Hunting
    Yepper, I was in Lowe's today and they had signs posted at the registers.
    PetesPockets55 likes this.
    2020 COIN ROLL HUNTING TOTALS!

    Wheats..53
    Buffalos..0
    war nickels.0
    Silv Dimes...-3
    Silv Quarters-0/0
    Barbers-0/0
    Walker 0
    Bens- 0
    Kenn. 90%- 0
    Kenn. 40%- 0
    Proof- 0
    Silv. Proof -0
    Commemorative-0/0

  4. #4
    us
    Feb 2012
    3,216
    2942 times
    Coin roll hunting
    Maybe with the coin shortage, may give cause for the silver to flow.

  5. #5
    us
    Dec 2006
    Western NY
    Minelab E-Trac, Whites Surfmaster
    351
    183 times
    All Types Of Treasure Hunting
    As I said in another post, I was notified about the coin shortage by my bank last Monday. I sold all of my "trading" coins to them with the understanding that I can buy it all back when they are able to order in quantity again. I took $900 to one branch and $250 to another. They were very thankful. The head teller at one branch said they received no coin at all last week. She said she asked the Loomis guy about it when he came and his reply was that there was no coin in the truck for anyone - no banks, no businesses - and he didn't know when there would be.
    My guess is that with bank lobbies closed, no one was able to take coin in to cash in. Plus, with people so afraid to touch anything, I'm also thinking that CoinStar usage is down. Hopefully, now that branches are open, people will start taking in coin again and we can get past this.

    Scott
    Javadroid and PetesPockets55 like this.

  6. #6
    us
    Feb 2013
    Expanding Operations
    Never used one, but am interested
    1,025
    857 times
    CRHing
    If you got stuck with a bunch of unwanted coin, NOW is the time to get rid of it. I found a bank today that said they were willing to count all my change by hand and call me back with a total. I gave them $2600 in dimes and they let me know multiple times how thankful they were. I didn't really want to reroll all that change, so I told them the feeling was mutual.
    Diver_Down and PetesPockets55 like this.

  7. #7
    Charter Member
    us
    Dec 2008
    St. Augustine, FL
    4,355
    1977 times
    Quote Originally Posted by Sleepy Holow View Post
    If you got stuck with a bunch of unwanted coin, NOW is the time to get rid of it. I found a bank today that said they were willing to count all my change by hand and call me back with a total. I gave them $2600 in dimes and they let me know multiple times how thankful they were. I didn't really want to reroll all that change, so I told them the feeling was mutual.
    Reminds me back in the 70's when there was an actual legitimate coin shortage. (I think the current shortage is related to staffing of the couriers.) I'm not sure if anyone can remember back then, but the banks would give full credit for less than full rolls as an incentive for people to turn their change in. For example, 40 cents would be counted as 50 and so on.

  8. #8

    Feb 2020
    39
    11 times
    All Types Of Treasure Hunting
    Same thing happened to me. A New credit union that I was going to open an acct with said they could get me half dollars. When I went to open the acct a few days later they had received a notice saying they couldn't for the time being as they were being restricted to what they could order due to the shortage....
    PetesPockets55 likes this.

  9. #9

    Jun 2020
    1
    2 times
    All Types Of Treasure Hunting
    I went to my local pickup bank to get 2 boxes last Friday (19-June-2020) and I was told by the assistant vice president that all of the big nationwide banks purchased all of the coins pre-shutdown and it is the federal reserve that has no coins and their normal shipment was cut in half. She also told me that the federal reserve should have the coins back to normal by August. I like using this regional bank because they do not charge anything to coin boxes.

    However, I called my credit union yesterday and was able to obtain 2 bags of pennies since they have their lobbies open and have coin counting machines in them for customers to use. I do not like dumping there because of the fees for anything over $50 in counting. My dump bank that has free coin counting still has their lobbies closed. I am holding off on obtaining anything other than pennies until my dump bank opens their lobby.
    Megalodon and PetesPockets55 like this.

  10. #10
    us
    May 2018
    A state of Resistance
    White's MXT Tesoro Cibola Tesoro Golden Sabre Plus Garrett ADS Master Hunter 7
    2,195
    3597 times
    All Types Of Treasure Hunting
    Welcome to the forum Godfather. As for the shortages: "How did things ever get so far?" - Don Corleone

    Does your credit union charge a fee to dump over $50 even if you have an account with them?
    PetesPockets55 likes this.
    "Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passions, they cannot alter the state of facts and evidence." - John Adams

  11. #11

    May 2017
    Garrett AT Pro
    405
    386 times
    Metal Detecting
    Half dollar boxes are difficult to get now in my town.

  12. #12
    us
    Dec 2006
    Very Northern Left Coast
    XLT & Bigfoot
    4,504
    2083 times
    All Types Of Treasure Hunting
    I stopped at my mortgage only bank yesterday (about my mortgage) and I asked to buy their bag of halves. I know they have a counter and take halves because last year I paid my mortgage two times in halves. She mentioned the coin shortage and couldn't sell. Another teller heard us and said the armored truck brought in $100 bags of halves and said she could sell me three bags. Never did bags before so I thought I would give it a try. I have not opened them yet but as you can see in the photos lots of copper stripes.
    Attached Thumbnails Attached Thumbnails Click image for larger version. 

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    T.C. and PetesPockets55 like this.
    When I did yard sales I was dollardan. No yard sales where I am now.

  13. #13
    us
    Sep 2015
    Washington
    454
    366 times
    All Types Of Treasure Hunting
    Granted whenever you get bags or boxes, you get very little silver so I wouldn’t still be surprised if you come back with a few silver halves.
    PetesPockets55 likes this.

  14. #14
    us
    Dec 2006
    Very Northern Left Coast
    XLT & Bigfoot
    4,504
    2083 times
    All Types Of Treasure Hunting
    Quote Originally Posted by Holt0222 View Post
    Granted whenever you get bags or boxes, you get very little silver so I wouldn’t still be surprised if you come back with a few silver halves.
    Checked one bag so far. SKUNK

    These look like bags that a banks would turn in from customer deposits and then without doing any checking or recounting send out to other banks. There were a lot of BU (almost proof like) halves with older dates.


    UPDATE 2 hours later: SKUNK - SKUNK - BIGGER SKUNK

    out of $300 I got $299.75

    BAG 1 = $100 (200 halves)
    BAG 2 = $99.75 (199 halves and 1 quarter)
    BAG 3 = $100 (198 halves & 1 ugly gold dollar)

    so over all I was shorted 25˘
    but it gave me something to do.
    Last edited by cyberdan; Jun 27, 2020 at 01:52 PM.
    PetesPockets55 likes this.
    When I did yard sales I was dollardan. No yard sales where I am now.

  15. #15
    us
    Sep 2015
    Washington
    454
    366 times
    All Types Of Treasure Hunting
    Hey can’t complain about BU unless your not looking for any
    PetesPockets55 likes this.

 

 
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