Where's My Premium?

@porwest (112876)
United States
August 30, 2020 4:28pm CST
When things are in demand but in short supply, normally the value of those things goes up. So, I am wondering. With there being a well publicized shortage of coins in the United States, where is my premium? You would think if I were to take a jar full of coins into the bank right now, they'd be offering a bit of a percentage higher than face value. Stores might offer something in return for turning in, or using some coins for a purchase. But there is nothing of that sort going on. We are just having people instead putting up signs that say they prefer exact change or for us to use credit or a debit card. One wonders if there really IS a coin shortage. How many people ACTUALLY used coins before the pandemic? Most people simply toss them into jars anyway and few people I know actually use them to pay for anything.
6 people like this
9 responses
Vicki, #1 Creek Girl
@1creekgirl (44560)
• United States
30 Aug 20
Do you think they're using the virus as an excuse to go cashless?
2 people like this
Vicki, #1 Creek Girl
@1creekgirl (44560)
• United States
2 Sep 20
@porwest You're right. It's all just crazy.
1 person likes this
Jim Bauer
@porwest (112876)
• United States
3 Sep 20
@1creekgirl Indeed, and I fear it will get worse before it gets better.
1 person likes this
Jim Bauer
@porwest (112876)
• United States
2 Sep 20
No. I don't think so. But it is just one more thing to (I think) make the public think the situation is more dire for another reason. The whole thing is just nuts to me. But it is what it is, and all we can do is live through it.
1 person likes this
marguicha
@marguicha (230350)
• Chile
30 Aug 20
I used my coins many years ago, when a neighbor sold country eggs. He was always short of change. I pay with my card to the supermarkets.
2 people like this
Jim Bauer
@porwest (112876)
• United States
4 Sep 20
Most of the time I use cards as well. Mainly my Discover card which pays me cash back, and then I just pay it off every month so as not to incur any interest charges. I still always at least carry some cash though.
Shavkat
@Shavkat (141905)
• Philippines
31 Aug 20
I usually have my loose coins with my small backpack purse.
1 person likes this
Shavkat
@Shavkat (141905)
• Philippines
14 Sep 20
@porwest It is also the same thing here. I do not want to carry coins with me.
1 person likes this
Jim Bauer
@porwest (112876)
• United States
17 Sep 20
@Shavkat Yeah. For me they are just bulky and cumbersome.
Jim Bauer
@porwest (112876)
• United States
12 Sep 20
I very rarely, if ever, carry coins with me. If I do it is from change received, and then all of that goes into a jar to be invested later.
1 person likes this
Namelesss
@Namelesss (3364)
• United States
30 Aug 20
One of the banks here offers $5 for every hundred, I mean $105 of course.
1 person likes this
Jim Bauer
@porwest (112876)
• United States
12 Sep 20
That would be awesome. I'd be there in a heartbeat to cash in.
LindaOH
@LindaOHio (222417)
• United States
31 Aug 20
We have several jars full of coins. I'm sure the merchants would appreciate them. Have a wonderful Monday.
1 person likes this
LindaOH
@LindaOHio (222417)
• United States
5 Sep 20
@porwest I'm thinking if they're in rolls they shouldn't mind so much.
1 person likes this
Jim Bauer
@porwest (112876)
• United States
5 Sep 20
@LindaOHio Nowadays no one trusts anyone. They'll still open those rolls and count all the coins just to make sure you didn't leave a quarter out on purpose.
1 person likes this
Jim Bauer
@porwest (112876)
• United States
4 Sep 20
Until I drop $20 worth of them on their table to pay for something.
1 person likes this
CarolDM
@CarolDM (203396)
• Nashville, Tennessee
30 Aug 20
I never used coins before. Kind of strange.
2 people like this
Jim Bauer
@porwest (112876)
• United States
30 Aug 20
Technically I do not use them either. I have always put them into a jar. The only place I really use them is at the car wash, and even then, I rarely use coins I already have and more often than not just stick a $5 bill into the coin changer for them.
1 person likes this
Jaymie Suh
@cherriefic (10399)
• Philippines
31 Aug 20
Looks like a lot of people are saving the coins at home.
April
@thislittlepennyearns (68246)
• Defuniak Springs, Florida
31 Aug 20
Yeah, I'm not buying the coin shortage. In our small town, we have had no problems with coins.
DJ
@dilleo (1077)
• Canada
31 Aug 20
Hmm interesting. I'm not fully sure if this is still the case or not, but before Covid (maybe even still) certain restaurant(s) would give say a 10% discount, or so, if you paid with cash. Personally these days, I do not usually carry too much cash (even before Covid as well) but that's just me.