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Re: So DE, whats with the coin shortage? everyone melting them down?? 

By: Decomposed in 6TH POPE | Recommend this post (2)
Mon, 27 Jul 20 5:04 PM | 24 view(s)
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Msg. 03815 of 60014
(This msg. is a reply to 03813 by Decomposed)

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Nemo:

Re: “Businesses nationwide have posted signs asking for exact change because of a coin shortage caused by the pandemic.”
Oh. THAT coin shortage.

I haven't actually heard a good explanation for it. My wild a$$ed guess is that people aren't eating in restaurants and going to other small businesses as often, and that those businesses, not banks, are the main places people pick up loose change. At the supermarket, I usually pay with a credit card and get no change. But at restaurants, particularly fast food chains, I do get change. But I'm not going to fast food chains of late. No fast food chains... no 7-elevens. No change.

So that's my theory. Feel free to poke holes in it.









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Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months


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The above is a reply to the following message:
Re: So DE, whats with the coin shortage? everyone melting them down??
By: Decomposed
in 6TH POPE
Mon, 27 Jul 20 2:00 PM
Msg. 03813 of 60014

Nemo:

Re: "So DE, whats with the coin shortage? everyone melting them down??"
Which coins - new or used? I pointed out previously that physical gold is about $300 more per ounce than "spot". American Buffalo coins are not being produced because of the closure of the US mint at West Point - due to coronavirus. Gold Eagle coin distribution has been halted across the entire US Mint network, probably due to depletion of inventory.

Used coins are another story. Gold's price is a runaway freight train and suddenly everyone wants the Pandas, Kangaroos, Maple Leafs and krugerrands. It takes time to import more. Everything domestic has been snapped up. Just like with your boats... sometimes they aren't available at any price.







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