Any personal opinions on the coin shortage

[Yukon99669]

I would give you my 2 cents worth on this subject.

But...........

That’s what’s up!

 

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[TerryC]

can you even imagine the amount of coinage held by TH'ers
i have all kinds of chests and jars and containers full - can you imagine if we put all of our clad in a pile
could easily fill a dump truck i bet

Charles Garrett is quoted as saying there are more coins in the ground than in circulation. I believe it. ╦╦C

 

[TerryC]

I think the current shortage is just logistics - the coronavirus shuttered the Mint for a while and kept shipments to and from the Federal Reserve banks. To your other point, though, we really had a better monetary system when our currency was tied to silver and gold. For example, in 1940 a gallon of gas cost about two silver dimes. Today, a gallon of gas still costs about two silver dimes. Now our government can just print money out of thin air, sunshine, and happiness.

By the way, I am going to turn in two years' worth of detected and tumbled clad tomorrow. I'm sure that will help alleviate the national change shortage!

In 1850, a twenty dollar gold piece could buy the best suit on the rack. Today, that same twenty dollar gold piece will still buy the best suit on the rack. Not so a paper twenty, or even five paper hundreds. ╦╦C

 

[fistfulladirt]

In 1850, a twenty dollar gold piece could buy the best suit on the rack. Today, that same twenty dollar gold piece will still buy the best suit on the rack. Not so a paper twenty, or even five paper hundreds. ╦╦C

Which department store today will take a $20 gold piece for nice suit? This isn’t 1850

 

[Keith Jackson]

At one of my local grocery stores they have a sign on the Coinstar machine saying that they will take you change and count it for no fee at the customer service counter.

 

[fistfulladirt]

At one of my local grocery stores they have a sign on the Coinstar machine saying that they will take you change and count it for no fee at the customer service counter.

what’s a matta ‘wit Coinstar?

 

[TerryC]

Which department store today will take a $20 gold piece for nice suit? This isn’t 1850

I haven't checked but I had my dad cremated several years ago. Instead of paying $1000 (in FL) the mortician took a one ounce gold coin. ╦╦C

 

[TerryC]

I haven't checked but I had my dad cremated several years ago. Instead of paying $1000 (in FL) the mortician took a one ounce gold coin. ╦╦C

A tailor might. Won't find the best on the rack in a department store. Besides, most twenty dollar gold pieces today are worth much more than face. Call one or two tailors and I'll bet you'll get a taker. ╦╦C

 

[TerryC]

Gold today is $1993.70. $6.30 shy of $2000 an ounce! It will go over $2000 this month. A department store clerk cannot take the gold coin but I'll BET the store manager will, even if he has to get cash from the bank to pay for the suit (and keep the coin) ╦╦C

 

[TerryC]

The AVERAGE value of an 1850 double eagle $20 gold piece is $3250. Could be worth from 13,000 to 50,000. A nice suit and then some. ╦╦C

 

[fistfulladirt]

Gold today is $1993.70. $6.30 shy of $2000 an ounce! It will go over $2000 this month. A department store clerk cannot take the gold coin but I'll BET the store manager will, even if he has to get cash from the bank to pay for the suit (and keep the coin) ╦╦C

Get back to us when you find one!

 

[TerryC]

Get back to us when you find one!

What? A gold coin?

 

[TerryC]

OK. A department store manager that will take a one ounce gold coin for the best suit on his rack. Stay tuned! ╦╦C

 

[fistfulladirt]

Gold today is $1993.70. $6.30 shy of $2000 an ounce! It will go over $2000 this month. A department store clerk cannot take the gold coin but I'll BET the store manager will, even if he has to get cash from the bank to pay for the suit (and keep the coin) ╦╦C

That’s odd. Why would he go through all that trouble when he could just buy ​a gold coin for two grand?
My original point was that it would be rare for a merchant today to directly accept a $20 gold piece for a suit.
On that note, lots of folks think they can pay for a gallon of gas today directly with two silver dimes. Hey, “you could do it in the ‘60’s.”

 

[Slingshot]

Coin shortage baloney - the mints have run the 2020 half dollars, and now they will languish in storage along with billions of other half and $1 coins that don't circulate - why didn't they run quarters instead? This entire phoney shortage is geared to bring in a cashless society, and is it's entire point. Boycott plastic only stores, and be sure to carry enough change and small bills to pay for what you purchase. Ditch the cent, and $1 bill, and replace the paper $1 with a metal $1 coin!

 

[MidMoTreasure]

OK. A department store manager that will take a one ounce gold coin for the best suit on his rack. Stay tuned! ╦╦C

In my line of work, I have taken a 1oz gold coin, pre-1964 USA silver, and silver rounds in payment before (not to mention guns, a hog, and a beef). I may not be a clothing store clerk, but check "Mostly Incompetent Small Town Lawyer" off your list of professions.

 

[fistfulladirt]

In my line of work, I have taken a 1oz gold coin, pre-1964 USA silver, and silver rounds in payment before (not to mention guns, a hog, and a beef). I may not be a clothing store clerk, but check "Mostly Incompetent Small Town Lawyer" off your list of professions.

For some reason you’re not taking 1964 silver?

 

[teleprospector]

All the coins are in whishing wells from people wishing this year was over!

Jon

 

[MidMoTreasure]

For some reason you’re not taking 1964 silver?

Depends, what kind of work do you need done? I'm only licensed in Missouri, but I do want to expand into a tropical Caribbean jurisdiction just as soon as I can laser-print a Bar license.

 

[TerryC]

For some reason you’re not taking 1964 silver?

Pre-64 was silver. 64 and after is CLAD.... no longer all silver. Worthless. ╦╦