Comments on: US Coin Production Highest Since 2006; New Quarter Mintages

By: Seth Riesling

Seth Riesling — Sun, 15 Nov 2015 05:40:53 +0000

RonnieBGood –

Great idea! Check out your local federal credit unions guys, since they are tax-exempt & can offer more free or lower cost services than federal banks who are all required to pay taxes. My local credit union has free coin counting machines at each branch that anyone can use! You don’t even have to be a member to use this service. The machines print out a paper voucher to take to a teller to get your amount in Federal Reserve Notes. My nephews love going with me with their loose coins to watch how the machine works. I am amazed at how many coins my four nephews accumulate. President FDR had a “piggy bank campaign” that encouraged people to turn in coins at banks to help stimulate the economy during the Great Depression. A recent Federal Reserve study estimates that USA households have a total of approximately $5 billion in loose change in their homes & vehicles. That amount is equal to the figure the Professional Numismatists Guild says USA coin collectors spent on USA rare coins with their PNG-member coin dealers in 2014. Amazing!

-NumisDudeTX

By: jim

jim — Fri, 13 Nov 2015 17:49:16 +0000

Not a bad idea. I haven’t turned in any change for quite a while since I use credit cards mostly these days but didn’t like having to roll the coins myself and especially writing my account number on the roll for anybody to see. Didn’t cost anything then but maybe all that’s changed now. Before when I had too much change accumulated I would take it along with me when I went to Las Vegas and gave it to the cashier. All the coin processing was done for free, no rolling and no account number.
At some stores around town there are coin counters where one could dump their loose change for a 7% fee the store would charge. That’ll save you 3% but maybe their fee has gone up to 10% by now.

By: RonnieBGood

RonnieBGood — Fri, 13 Nov 2015 00:46:20 +0000

There should be a “turn in your change for no fee day” at banks once a month. This would help bring back so much of the change that sits unused in jars and nightstands, etc. due to the 10% fee that most banks charge to deposit loose change amounts over $5 dollars.

By: Dave

Dave — Wed, 11 Nov 2015 16:43:23 +0000

And those 8+ billion pennies end up in about 500 million jars on counters, bureaus, tucked in closets, etc.

By: Munzen

Munzen — Tue, 10 Nov 2015 20:38:32 +0000

You got it, Jim. It just amazes me how many people fuss about government waste, but when you bring up the amount wasted on pennies and $1 bills they start bleating about “tradition” and “being uniquely American”. Sigh…

By: jim

jim — Tue, 10 Nov 2015 19:16:30 +0000

8+ billion pennies – I would not be proud of that number