This article was originally published by Tyler Durden at ZeroHedge.Â
Treasury Secretary Steve Mnuchin urged his Twitter followers on Tuesday to swap out their spare coins for cash at banks amid a continuing nationwide coin shortage that appears to be worsening.
If you have extra coins at home, please use them to make purchases— or deposit them at the bank or exchange them for cash. Help get coins moving! ??
— Steven Mnuchin (@stevenmnuchin1) August 11, 2020
There’s currently a shortage of pennies, nickels, dimes, and quarters caused by the coronavirus pandemic, which led the Federal Reserve to start rationing coins in June.
Community banks have asked customers to deposit spare change to pump more coins into circulation. Because of the shortage, major retailers have told consumers to pay in cards or exact change.
“Until coin circulation patterns return to normal, it may be more difficult for retailers and small businesses to accept cash payments,” the US Mint said in late July. “For millions of Americans, cash is the only form of payment and cash transactions rely on coins to make change.”
Now, before readers start rummaging through their homes, underneath sofa cushions, and under car seats for spare coins to help the country in these challenging times, there are certain coins in circulation that are worth more in scrap than face value.
According to Coinflation.com, pennies from 1909-1982 are approximately 95% copper and have a metal value of about $0.0185. In this instance, once could almost double their money if they took these pennies to a scrapper than the bank. Here’s the complete list of what coins are worth in terms of face value versus metal value.
Another coin to watch is the nickel. It has been nine years since Kyle Bass first suggested the ‘nickel trade’, and the metal value is about 82% of face value. Though the trade is underwater, it’s not far off from the face value breakeven when considering other coins in circulation.
While Bass’ nickel trade underperforms, readers should think twice before depositing pennies from 1909-1982 at the bank because they’re worth way more in scrap.
And yet I still get email from the US MINT on new coin releases almost every week. So what’s the problem? Obviously the staff…at least some, are there. Is there a metal shortage or ?
Maybe if the “Banks” would open and allow customers access to the coin counting machine, there wouldn’t be a coin shortage.
If the country wasn’t forced into locking down over scientific fraud, we would not be in this situation. The treasury claimed that the mint reduced coin because of the coronavirus.
Good luck protecting your children from child abuse in America by the governments, schools, universities, medical mafia, tech companies, banks, corporations, and religious instututions.
Corruption guarantees abuse. It can not be avoided. Psychological psy-ops constitute psychological abuse by destroying trust in all of those institutions, and in parents if the parents parrot the psychological operations perpetrated be the corrupt parties engaging in fraud on a mass scale.
I realized that psychopaths do not have consciences, hearts or souls, so they really do not care if their children will have to live in a world of corruption, abuse, and predation.
It is therefore up to the non-psychopaths to step in and intervene.
The covid hoax, lockdowns, forced isolation, forced mask wearing, forced social distancing, forced contact tracing, forced testing for some schools and work places, and attempts to force vaccines that are both dangerous and ineffective for promoting good health show that the new age is one of Hitler, Marx, Mussolini, and Charles Manson.
How dare they say that this is the land of the free and the home of the brave if they are too damned afraid to even breathe the air!
Maybe if Trump didn’t pay for 150 million masks for children that do not promote health or spend all of that money on vaccines and bailing out ponzi schemes we would have the change that we need!
Missing 1987 in McCarthy Dahmerville!
Sanity please!
Andrea Iravani
If the country wasn’t forced into locking down over scientific fraud, we would not be in this situation. The treasury claimed that the mint reduced coin because of the coronavirus.Â
Good luck protecting your children from child abuse in America by the governments, schools, universities, medical mafia, tech companies, banks, corporations, and religious instututions.
Corruption guarantees abuse. It can not be avoided. Psychological operations constitute psychological abuse by destroying trust in all of those institutions, and in parents if the parents parrot the psychological operations perpetrated by the corrupt parties engaging in fraud on a mass scale.
I realized that psychopaths do not have consciences, hearts, or souls, so they really do not care if their children will have to live in a world of corruption, abuse, and predation.
It is therefore up to the non-psychopaths to step in and intervene.
The covid hoax, lockdowns, forced isolation, forced mask wearing, forced social distancing, forced contact tracing, forced testing for some schools and work places, and attempts to force vaccines that are both dangerous and ineffective for promoting good health show that the new age is one of Hitler, Marx, Mussolini, and Charles Manson.
How dare they say that this is the land of the free and the home of the brave if they are too damned afraid to even breathe the air!
Maybe if Trump didn’t pay for 150 million masks for children that do not promote health or spend all of that money on vaccines and bailing out ponzi schemes we would have the change that we need!
Missing 1987 in McCarthy Dahmerville!Â
Sanity please!Â
Andrea Iravani
Contrary to the official narrative, there is no coin shortage!
Where’d all the coins go???? A virus can stop the government from making coins…really?
If stores can’t make change, you can’t use cash…is anybody waking up here?
They want a cashless society to control you and stores refusing to accept cash is their foot in the door.
Wake the fuck up America!
I agree, there is no shortage. It’s just a way of ushering in a cashless society. The best thing to do is, if a store refuses cash, and you know it in advance, get what you need in a cart, attempt to pay cash and if they refuse, leave the cart sitting at the checkout and leave the store. If enough people do this, the coin shortage would disappear real fast. The only problem with this is too many people like the simplicity of plastic. That’s why people are in so much debt. If they’d use cash, they’d soon see how hard it is to buy everything they want, and start just buying what they need.
The corruption grows! A new wrinkle in the not so legal legal system! Trump’s defense attorney Larry Cohn spills his guts and colors it with extensive creative license. It is just that obvious. Really. People might want to rethink trusting attornies, shrinks, and doctors.
https://sputniknews.com/society/202008141080159963-liar-fraud-con-man-michael-cohens-new-book-claims-trump-cheated-in-2016-election/
Andrea Iravani
I said from day 1, Trump had better hackers.
Too bad they’re illegal to melt and no scrap dealer will take them.
Some say they will keep coins because if/when they devalue the paper/digital dollar they won’t devalue coinage.
Hold on there. A penny is ALWAYS 1/100 of a dollar. A nickel is ALWAYS 1/20 of a dollar…and so on for all coins. If the dollar devalues, so does the coinage.
Maybe someday they will legalize melting coinage like they did with the silver coins. I do have ammo box upon ammo box filled with rolled nickels, but that was from back when Rawles said to save them for melt value about ten years ago (they are worth less today than they were then).. I consider them dead weight.
Metal is tied to the price of oil. That five cent piece can be re -shaped into a defense product of your choice owning the proper equipment, to do so.
A secret cache of nickels. Lol.
It won’t be tied to oil for much longer. The death of the petro-dollar is near I fear.
If it’s melted and mix with other scrap copper hth does anyone know??
How much does it cost to buy a silver dollar? Are they all worth a dollar? How much is a steel penny worth? I guess that if they are all worth what the face value on the coin is then people cannot sell them for more than its face value, if what you say is true.
If it isn’t worth a continental, how much is it worth?
Andrea Iravani
I collected them too back then. I just took them to the bank – it was a dumb idea then and it’s time to get your dollars back.
And they threw it into the furnace and what came Back? Real metal which is money. The coins were made of certain values and have more worth as when you throw paper into the fire you get back Ashes. Do NOT be a Dummy …. or you may be thrown into the fire ….
Hey Moochin…Howz bout you cut some more Big Donnie stimulus checks, please. Me n my buds here in Portland have spent all our dole on fireworks and mortars…we’re broke.
Hedge fund managers started hoarding pre-82 pennies years ago. Let the hoarding hedge fund managers take their penny hoard to the bank instead of blaming the consumer once again.
For references if needed:
One Crystal Light plastic holds $80 of quarters.
Ok what is going on is they are creating a shortage of coins to try and get people to give up all the coins they have. When they switched currencies in Israel years ago there was an intermediate period until the new paper currencies were exchanged where the only way you could buy anything was with the coins. The former currency in coins was excepted whereas the old paper money wasn’t. They are probably going to have a new currency when the dollar crashes and until it is fully implemented the only way you will be able to buy anything is with coins. If no one has coins they will be even more dependent on the global government. So start hoarding coins now.