U.S. coin shortage

[Sinned]

Over here you can get little plastic bags that fold over at the top and printed on the front is the amount of coins that the bag is designed to hold. For example £20 in £1 coins. They can hold 1p, 2-, 5p, 10p, 20p, 50p, £1 and £2 coins but no mixed values. At the bank they weigh them against a standard weight for the particular coin. Banks will accept multiple bags resulting from emptying the coin jar but you generally have to have an account with that bank. There is no charge for this, at least there wasn't the last time I emptied the jar. There are machines around that you empty your change into it and it will give you notes but there is a percentage charge for doing it and frankly, I'm too tight to use them.

[Kirbstone]

With the universal adoption of card payments even for small amounts the practical uses for actual coins have diminished very rapidly in recent months.
I keep a coin in my wallet for getting a trolley out of the rack at the supermarket and as I recently described, I bought a 99 ice cream with a coin the other day.
I will shortly need to visit a barber and I expect to pay cash there as a tip is in order.

Tom

[Sinned]

The least I have entered for a card purchase is 24p.

[6ft3Aussie]

Here in Australia, we haven't had 1 and 2 cent coins for well over 20 years, they were copper coins. We only have 5, 10, 20, 50 cent coins, and $1 and $2 coins.

As for the progressive "phase out" of cash payments, well I'm sure that the government (especially the tax office) would like to do it, as every electronic transaction has a record, which can be audited at a later date, so the tax office, banks etc can keep a closer eye on everyone's earnings for tax etc, so that earnings cannot be undeclared.

I'm sure that there will continue to be certain ethnic groups who run very popular restaurants (just to name one industry) that do no accept EFTPOS or card payments of any sort, just cash payments (which don't leave an electronic record).
There are some tradespeople who often do "undocumented" cash jobs as well.
Also many elderly folks only use cash for everything, and do not have a credit or debit card, and don't use the internet.

I honestly don't think it will be possible to phase out cash in our modern society.

[Grok]

So, the U.S. Mint has ended the production of the penny.

A reminder that change can mean the disappearance of something.

[Faldaguy]

Hey Grok, no worries -- they minted a bunch of Mint sets (163?) that you can pick up for estimates running from a meager $40K or so to a quarter mill --you'll always have your penny to talk about. UA may have to change his byline -- "just my ?? cents worth"!

[Seb]

We lost all of our small value coins over my lifetime. The 0.50sek (50 öre) was around until a few years ago, now it's purely a digital denominator, probably to be removed in the future.

I can't say I miss them either, but then I hardly use cash anyway anymore. I paid for a gift in cash at a market a few weeks ago, otherwise I think it was probably 2 or 3 years since I last paid for anything with cash. I was very surprised that the vendor not only accepted cash but preferred it over the phone payment every one else wants.

I still have some bills in my wallet I need to get rid off.