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Stores are unable to handle cash transactions because they can't make change, because they can't get enough from their banks, because the banks aren't getting e

Stores are unable to handle cash transactions because they can't make change, because they can't get enough from their banks, because the banks aren't getting enough supply, apparently.

catalogia 6y ago
In the past month I've received four half-dollar coins as change, which is four more than I've seen in the past decade. It seems like stores are reaching the bottom of their coin drawers; using coins they normally wouldn't.
- bmlzootown 6y ago
  At work, we've all basically agreed that if we run out of change and can't get any more, that we'll bring in our own jars, count it out, and exchange it for cash. It's a last resort, for sure, but we've already discussed it. As of right now, we're limited to one roll of each denomination ($17.50) by our bank, so the need may very well eventually arise, and that means that some of my collection might just end up as someone else's change.
  - dotancohen 6y ago
    Or don't declare your collection. In fact, as the value of coins continues to rise, I would try to maximize (but not horde) my influx of coins, not willfully exchange them for a less-demand form of currency. Remember, the concept of supply and demand is still valid even for currency marked with an official denomination. You could think of that marking as the _minimum_ value of the currency, as guaranteed by the state.
- Symbiote 6y ago
  Why don't Americans use half dollars? I think everywhere else I've travelled, someone (or a machine) giving change will optimize it to the fewest coins. £3.85 would be £2, £1, 50p, 20p, 10p, 5p. The only exception is something like a food stall that's set all their prices to multiples of €1 (I've seen this several times in Germany), they might keep plenty of €1 and €2 coins for change. If someone pays with smaller coins, they have no use for them and will give them as change.
  - csa 6y ago
    Better yet, why don’t Americans use dollar coins? Having lived in Japan, I was a big fan of larger denomination coins. In Japan, the smallest bill is worth about $10 USD, and they have coins worth about $1 and $5. Having a pocket full of change could actually get you something nice! I actually treated two of my friends to a night out at our local izakaya for ~$100 with 20 coins. In an effort to promote the use of different coins and bills in the US, I would take all of the one dollar bills I accumulated over X amount of time, and I would buy $1 coins (Sacajaweas and Susan Bs) and $2 bills so that I could circulate them and try to get people accustomed to them. I ran into three issueus: 1. Cashiers would give me the wrong change for the $2 bill. They usually treated it like a $1 bill, but at times I got change for a $20. 2. Cashiers would be mildly annoyed that there was not a slot in their register for $2 bills or $1 coins. 3. I actually had one subway worker (at the T in Cambridge) actually throw the coins back at me and yell at me and my friends that she wouldn’t take our “circus money” while pounding the plexiglass. We were all in business causal and (I hope) didn’t look like circus performers, so it was an odd reaction to say the least. Anyway, I do all of my banking remotely now, so it’s harder to make exchanges like that, but I still do it sometimes. I really wish my fellow Americans would embrace the use of larger coins and maybe even ditch the penny and maybe even the nickel.
    - Symbiote 6y ago
      With the same size and very similar colours of the $1, $2 and $20 I'm not at all surprised people can be confused. I don't know how blind people cope. They could make a $2 coin. It would fit in with other Western countries' highest-value circulating coins: 2 GBP = $2.53 2 AUD = $1.40 2 CAD = $1.47 20 DKK = $3.10 20 SEK = $2.20 20 NOK = $2.20 2 EUR = $2.29 50 CZK = $2.54 10 HKD = $1.29 2 NZD = $1.31 500JPY = $4.67 That said, other than selling an item second-hand, I haven't used any cash at all since February.
    - benhurmarcel 6y ago
      On the contrary I wish the 2€ (and maybe 1€) coins would be replaced by bills. It's a lot less annoying to carry around some folded bills.
  - 6y ago
joezydeco 6y ago
At my grocery store today there was a large sign at the checkout informing you they don’t have coins to make change, please use electronic payment. If you pay cash and don’t have the exact amount the total will be rounded up and the excess donated to a charity.
- ultrarunner 6y ago
  As long as that charity isn't the owner of the grocery store's yacht club I like this idea. In practice, though, the types of charities usually offered are a) the business themselves like Goodwill, or b) controversial at best (say, a Komen-eqsue figure). If there was a way to make this choice with less friction I'd be much more willing to give up change entirely.
  - joezydeco 6y ago
    IIRC it was a local food bank.
swimfar 6y ago
I've heard that some banks will no longer take large amounts of change from people. I'm not sure if they got rid of the change counting machines, or just don't want to deal with it. This could have some effect on the amount of change in circulation. People then have jars/ashtrays/drawers of change that they can't easily put back into supply.

Stores are unable to handle cash transactions because they can't make change, because they can't get enough from their banks, because the banks aren't getting enough supply, apparently.

catalogia 6y ago

In the past month I've received four half-dollar coins as change, which is four more than I've seen in the past decade. It seems like stores are reaching the bottom of their coin drawers; using coins they normally wouldn't.

bmlzootown 6y ago
At work, we've all basically agreed that if we run out of change and can't get any more, that we'll bring in our own jars, count it out, and exchange it for cash. It's a last resort, for sure, but we've already discussed it. As of right now, we're limited to one roll of each denomination ($17.50) by our bank, so the need may very well eventually arise, and that means that some of my collection might just end up as someone else's change.
- dotancohen 6y ago
  Or don't declare your collection. In fact, as the value of coins continues to rise, I would try to maximize (but not horde) my influx of coins, not willfully exchange them for a less-demand form of currency. Remember, the concept of supply and demand is still valid even for currency marked with an official denomination. You could think of that marking as the _minimum_ value of the currency, as guaranteed by the state.
Symbiote 6y ago
Why don't Americans use half dollars? I think everywhere else I've travelled, someone (or a machine) giving change will optimize it to the fewest coins. £3.85 would be £2, £1, 50p, 20p, 10p, 5p. The only exception is something like a food stall that's set all their prices to multiples of €1 (I've seen this several times in Germany), they might keep plenty of €1 and €2 coins for change. If someone pays with smaller coins, they have no use for them and will give them as change.
- csa 6y ago
  Better yet, why don’t Americans use dollar coins? Having lived in Japan, I was a big fan of larger denomination coins. In Japan, the smallest bill is worth about $10 USD, and they have coins worth about $1 and $5. Having a pocket full of change could actually get you something nice! I actually treated two of my friends to a night out at our local izakaya for ~$100 with 20 coins. In an effort to promote the use of different coins and bills in the US, I would take all of the one dollar bills I accumulated over X amount of time, and I would buy $1 coins (Sacajaweas and Susan Bs) and $2 bills so that I could circulate them and try to get people accustomed to them. I ran into three issueus: 1. Cashiers would give me the wrong change for the $2 bill. They usually treated it like a $1 bill, but at times I got change for a $20. 2. Cashiers would be mildly annoyed that there was not a slot in their register for $2 bills or $1 coins. 3. I actually had one subway worker (at the T in Cambridge) actually throw the coins back at me and yell at me and my friends that she wouldn’t take our “circus money” while pounding the plexiglass. We were all in business causal and (I hope) didn’t look like circus performers, so it was an odd reaction to say the least. Anyway, I do all of my banking remotely now, so it’s harder to make exchanges like that, but I still do it sometimes. I really wish my fellow Americans would embrace the use of larger coins and maybe even ditch the penny and maybe even the nickel.
  - Symbiote 6y ago
    With the same size and very similar colours of the $1, $2 and $20 I'm not at all surprised people can be confused. I don't know how blind people cope. They could make a $2 coin. It would fit in with other Western countries' highest-value circulating coins: 2 GBP = $2.53 2 AUD = $1.40 2 CAD = $1.47 20 DKK = $3.10 20 SEK = $2.20 20 NOK = $2.20 2 EUR = $2.29 50 CZK = $2.54 10 HKD = $1.29 2 NZD = $1.31 500JPY = $4.67 That said, other than selling an item second-hand, I haven't used any cash at all since February.
  - benhurmarcel 6y ago
    On the contrary I wish the 2€ (and maybe 1€) coins would be replaced by bills. It's a lot less annoying to carry around some folded bills.
- 6y ago

joezydeco 6y ago

At my grocery store today there was a large sign at the checkout informing you they don’t have coins to make change, please use electronic payment. If you pay cash and don’t have the exact amount the total will be rounded up and the excess donated to a charity.

ultrarunner 6y ago
As long as that charity isn't the owner of the grocery store's yacht club I like this idea. In practice, though, the types of charities usually offered are a) the business themselves like Goodwill, or b) controversial at best (say, a Komen-eqsue figure). If there was a way to make this choice with less friction I'd be much more willing to give up change entirely.
- joezydeco 6y ago
  IIRC it was a local food bank.

swimfar 6y ago

I've heard that some banks will no longer take large amounts of change from people. I'm not sure if they got rid of the change counting machines, or just don't want to deal with it. This could have some effect on the amount of change in circulation. People then have jars/ashtrays/drawers of change that they can't easily put back into supply.