Change shortage?

CutnSnip

Billy Hamilton status
Sep 11, 2018
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Probably dropping in on you, California
Anyone else experiencing this in your areas?

Tried to get quarters from 5 different places this morning in LA including two BOFA locations and no one is giving up quarters.

I cant do my fricken laundry w/o quarters because my building is stuck in the past.
 

grapedrink

Tom Curren status
May 21, 2011
11,032
2,272
113
A Beach
Anyone else experiencing this in your areas?

Tried to get quarters from 5 different places this morning in LA including two BOFA locations and no one is giving up quarters.

I cant do my fricken laundry w/o quarters because my building is stuck in the past.
Yup, saw this at dollar tree yesterday. Most 3rd world countries are a PITA with small bills so I've developed a good strategy of breaking large bills where I know they have change and saving small bills for purchases where I know the vendor will not have change.

I have a few theories regarding this: 1) Crap government central banks that don't print enough small bills; 2) Small family businesses that don't have the money to give you back in the first place; 3) Owners that pick up the cash multiple times a day and horde it all; 4) Small bills end up in the poor barrios and circulate there, never to leave.

I was actually surprised that this was an issue in France when I was there in 2006, although I'm not sure if that was a temporary thing or not. In the US I usually pay with a CC, although I may have to revisit those techniques. The fact that we are seeing this here . . . . Guess where we are headed as a country :drowning:
 

grapedrink

Tom Curren status
May 21, 2011
11,032
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A Beach
A non-essential task put off for too long is bound to become essential, or something like that.
Yeah now that I've looked into it, it's only for coins. Strippers can rest easy. Although I think we should bring back the $2 bill, since that cuts down on the need for so many singles.

It's time to just phase out at least the small coins like pennies and nickels which are a net loss. The only thing keeping pennies in circulation are the mining/metal companies that provide the raw material, although they use the poor and charities as their rationale for keeping them around.
 

oneula

Miki Dora status
Jun 3, 2004
3,659
981
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We just had a meeting this week on it
The Fed/Treasury furloughed too many of their production staff and now are having to call them back to make them pennies and stuff
it's global across all bank vaults

Not surprising because people have been avoiding handling cash because of the covid and with businesses closed down they aren't making runs to the bank to deposit their cash/coins. With no re-circulation the coins are staying with the people who aren't using them. Maybe we can finally get rid of the penny and coins in general as they are a nuisance except for vending and parking machines. Make everything cutoff at the dollar. No more $9.99 fake pricing.

Contactless payments are the future of retail.
 
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Kento

Duke status
Jan 11, 2002
56,420
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The Bar
I've said it for years. We should just round up or down to the nearest nickel. It's net net all the same at the end of the day and who really cares about a couple of pennies.
Yep. Australia is decades ahead of the US on that one. Am definitely down with ditching the penny.

Plus, riffing off what oneula said, so many transactions these days are done electronically; how much cash really is being circulated back and forth?
 

Sharkbiscuit

Tom Curren status
Aug 6, 2003
11,422
2,735
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Jacksonville Beach
Yep. Australia is decades ahead of the US on that one. Am definitely down with ditching the penny.

Plus, riffing off what oneula said, so many transactions these days are done electronically; how much cash really is being circulated back and forth?
Some lady took a solid minute to count out correct change at Pube Licks on Monday when I went grocery shopping.
 

oneula

Miki Dora status
Jun 3, 2004
3,659
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based on my job, I personally I love cash and checks, no trace and I can actually know the bank and account number you deposited my check to. I also hate online/mobile banking.

the clueless masses have no idea whats being done with all the data we've been accumulating on you all using those cards.
your lives are an open book based on where, when and how you use those things, just like tracking your phone and your online searches/click thrus.

At a Defcon years back, I saw a euro-hacker siphon off all the card account info from a contactless register transaction from 50 ft away. He tried to warn the card networks about passing open text data across the air but they wouldn't listen. No one cares because its all funny money to everyone. Not like passing gold or silver across the counter.
 

r32

Administrator
Staff member
Apr 1, 2005
12,330
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Cambria
Don't worry. We're going full digital soon enough.

The gov and payment processors (Square, Paypal, Stripe, Swipe, etc.) have been pushing hard the last 5+ years for businesses to go all digital, for obvious reasons; tracking and guaranteed revenue. The covid thing has now forced the gov to look into digital currency and blockchain to prevent spread of viruses. US, Euro, and Asia countries are all now looking into blockchain technology for developing digital currencies.

Big changes are coming to how we use money, and it will have a profound effect on life, both positive and negative, when nobody is carrying fiat anymore. It's coming faster than you think and will probably happen within the next 10-20 years.