Coin Shortage

LtDave32

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So..

We roll through a fast-food mex place just now.

$8.94 for TWO tacos.

Let that sink in..

Eight Dollars and Ninety-Four Cents.

I hold up a debit card.

covid-mask behind the window says "It will be an additional 75 cents for you to use your card".

Me: "what about the coin shortage?"

Her:

Uh-huh..

Sumpin' smells.. And it ain't the tacos.
 

Bill Hicklin

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In fairness to Taco Mart, retail businesses get raped by card-processing companies and their fees. I've started using cash every time I buy a pack of cigs or a soda from my local convenience store, ever since the owner told me he loses money on every low-value card transaction.
 

Howard2k

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Conspiracy theories aside, you'd be surprised to find out how much money ends up at the dump.

Every time I go to the carwash, I see people literally throwing cash (coins) in the trash.

I also used to help one of the owners clean out the 6 vaccumes he has, and one time, cleaned out about $200 worth of change.

Btw, it's not a "shortage". It's a "distribution problem". Lol
There is a site on the dark web that says they take destroyed bank notes and reassemble them to make passable notes.


Cheap too, it was $1000 of currency for $100 or so. And I’m sure it’s 100% legit.
 

rockstar232007

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There is a site on the dark web that says they take destroyed bank notes and reassemble them to make passable notes.


Cheap too, it was $1000 of currency for $100 or so. And I’m sure it’s 100% legit.
Makes sense.

Here (in the US), even if our paper money is ripped in half, we can still spend it, as long as we have both halves containing matching serial numbers.
 

Howard2k

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Makes sense.

Here (in the US), even if our paper money is ripped in half, we can still spend it, as long as we have both halves containing matching serial numbers.
Yep same here I believe.

100% scam on that dark web site though. But I wonder how many people fall for it.
 

Bill Hicklin

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There is a site on the dark web that says they take destroyed bank notes and reassemble them to make passable notes.


Cheap too, it was $1000 of currency for $100 or so. And I’m sure it’s 100% legit.

Yeah, legit.

At the Federal Reserve Bank here, they give tours to school groups. One of the souvenirs they hand out is little packets of destroyed currency: the shredders they use go far beyond commercial-grade shredders, what comes out is more like greenish powder.

Lotsa luck taping that back together.
 

six-string

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To me, pennies are less than worthless, as they take up my time ans space.
Do away with them already.
up here they quit making pennies in 2012. nobody noticed.
when paying cash- you either round down to the nearest nickel, or up to the nearest nickle.
applies to cash transactions only.
credit or debit you still pay to the cent.

the gov't claimed it cost more than 2 cents to produce every penny by the time they stopped production.
only gov't can lose money when they make money.....go figure.
 

Howard2k

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up here they quit making pennies in 2012. nobody noticed.
when paying cash- you either round down to the nearest nickel, or up to the nearest nickle.
applies to cash transactions only.
credit or debit you still pay to the cent.

the gov't claimed it cost more than 2 cents to produce every penny by the time they stopped production.
only gov't can lose money when they make money.....go figure.
Incredibly some people still had issues rounding :laugh2:
I think it’s pretty well understood these days though. Works well.

Arguably you could game the system and strategically pay by cash or electronic transfer to save those extra cents where rounding works in your favour. That’s gotta be worth at least a dollar a year!
 


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