Change shortage

D

DBZ

Joined
Dec 9, 2018
Messages
1,645
Has the change shortage hit your store yet? It hasn't hit mine, but it has hit a nearby target and it has hit my daughter's place of employment. How are the guests handling the change shortage?

I thought there was a thread on this, but I couldn't find it.
 
None really at my store. We have a lot of half-dollars in the registers and I give them as change just to get rid of them even though we have plenty of quarters and other coins.
 
My family lives in the Texas panhandle. Banks up there are giving a 10% bonus to people who bring in their change in. My mom saves her change & usually cashes it in twice a year. It is her "fun" money as she lives on a fixed income. She took $149 to the bank; came home with $165. They rounded up & added the 10%.
 
We had a shortage for 2-3 weeks right in the beginning. We had to do card only at SCO and most of our registers were out of quarters and really low on pennies. It wasn’t too big of a deal except the cashiers couldn’t get it through their heads that we had no pennies and would be like “I REQUESTED CHANGE TWENTY MINUTES AGO” every other minute.

Now we are so stocked up on coins it is ridiculous. I fill every register and SCO to the max at least once a week when I close because the boxes of coins literally won’t fit in the safe if I don’t.
 
vendordontmesswithme said:
I don't understand why my store can never seem to get a change order. The times I pay cash at some businesses they always have change.
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There's a shortage nationwide due to the pandemic.
We still have change at my store, but we have signs up asking guests to pay in exact change or card only if they can.
This helps us keep some change in the registers. Otherwise we wouldn't have any change at all.
 
yeah, ours has been suffering for a month and half or so.

we've made SCO card only (though we still allow cash back) and the registers allow cash transactions as usual. sometimes we've had to adjust change back (giving a nickel instead of .03) and many people have been kind enough to tell us to keep the change or exchange coin for cash, sometimes just swapping a ten pennies for a couple nickels or a dime
 
we have been running low on pennies for a few weeks. I am told that when we run dry we will stop accepting cash in SCO one at a time until they all run out.
 
We are running low on dimes and quarters. When we need coin change we tell Sco person just bring whatever you have. No cash at Sco.
 
I'll ask. Why is there a change shortage? Are people melting down coins for the metals?
 
People aren't using them, keeping them out of circulation. Should be getting better now that things are opened back up.
 
Tessa120 said:
I'll ask. Why is there a change shortage? Are people melting down coins for the metals?
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Due to the pandemic, the production at the mints has gone down, so there have not been enough coins minted to meet the demand of all of the banks. Since people rarely ever pay for anything with coins, especially pennies and nickels, stores have to get almost all of their coins from banks rather than customers.
 
happygoth said:
I never use cash.
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I always pay cash if the total is under $10. Years ago I had heard that charges under $10 ding your credit report. Don't know if that's accurate anymore and I guess it really doesn't matter since I'm not concerned too much about my credit score. Anyway, I still pay cash when my total is under 10 bucks.
 
GRC said:
Due to the pandemic, the production at the mints has gone down, so there have not been enough coins minted to meet the demand of all of the banks. Since people rarely ever pay for anything with coins, especially pennies and nickels, stores have to get almost all of their coins from banks rather than customers.
Click to expand...
But why do they even need to mint on a large scale? Coins are good for decades. My sister has seen a lot of buffalo nickels, and if those are still in condition for general circulation then we could easily skip an entire year of minting without an issue.

If it were bills, yeah bills wear out fast. Coins? They'd probably survive a nuclear war.
 
Tessa120 said:
But why do they even need to mint on a large scale? Coins are good for decades. My sister has seen a lot of buffalo nickels, and if those are still in condition for general circulation then we could easily skip an entire year of minting without an issue.

If it were bills, yeah bills wear out fast. Coins? They'd probably survive a nuclear war.
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Coins get lost easily. How many pennies have you seen in the parking lot or sidewalk?
 
Tessa120 said:
But why do they even need to mint on a large scale? Coins are good for decades. My sister has seen a lot of buffalo nickels, and if those are still in condition for general circulation then we could easily skip an entire year of minting without an issue.

If it were bills, yeah bills wear out fast. Coins? They'd probably survive a nuclear war.
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In theory yes, but people simply don't use coins. They're usually just end up sitting in their drawers or coin jars. Most people don't find it worth the effort to take their change to the bank or a Coinstar machine.
 
GRC said:
In theory yes, but people simply don't use coins. They're usually just end up sitting in their drawers or coin jars. Most people don't find it worth the effort to take their change to the bank or a Coinstar machine.
Click to expand...
Well clearly my older sister disagrees with that. She saves her change that's why she always has a decent amount of savings. So I would say it worth it to those people.
 
My daughter emptied our coin jar and rolled up all the pennies to take to her employer. It was a whopping $8. I think it is a 128 oz jar.
 

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