Coin shortage
Poll
 | 4 votes (12.12%) | ||
| | 5 votes (15.15%) | ||
| | 12 votes (36.36%) | ||
| | 15 votes (45.45%) | ||
| | 5 votes (15.15%) | ||
| | 2 votes (6.06%) | ||
| | 8 votes (24.24%) | ||
| | 9 votes (27.27%) | ||
| | 2 votes (6.06%) | ||
| | 4 votes (12.12%) |
33 members have voted
Then I attempted to play it off at various video poker machines and they all spit it right back. I then lowered my standards and attempted to play it off in a reeled slot machine but was rebuffed at every turn. Being cheap bastard that I am, I walked it over to the cashier for my money. The man scanned it, but it didn't read. He then explained that it can take "a few minutes" for such tickets to clear. He kept scanning it over and over, but it just wouldn't take.
As he was doing this, I explained I didn't really care about the 50 cents, but wanted to know what was really going on. He said they had a severe coin shortage and the machines couldn't dispense them out. That didn't explain why the slot machines wouldn't take them or this alleged waiting period, but I didn't ask.
However, I did say that I had about $1,000 worth of loose change and asked if they would exchange it for cash. He said "yes," and confirmed it with another cashier.
I think I will return with a lot of loose change, perhaps about $300 worth as a trial run and hope they honor this offer. I made the same offer at the Bank of America about two weeks ago and they said "no."
The question for the poll is what do you think of the coin shortage?
Quote: WizardToday I attempted to cash a slot voucher worth $97.50 at a machine. It gave me $97 in paper money and a voucher for $0.50. I took the $0.50 voucher to another machine and it spit it back at me.
Then I attempted to play it off at various video poker machines and they all spit it right back. I then lowered my standards and attempted to play it off in a reeled slot machine but was rebuffed at every turn. Being cheap bastard that I am, I walked it over to the cashier for my money. The man scanned it, but it didn't read. He then explained that it can take "a few minutes" for such tickets to clear. He kept scanning it over and over, but it just wouldn't take.
As he was doing this, I explained I didn't really care about the 50 cents, but wanted to know what was really going on. He said they had a severe coin shortage and the machines couldn't dispense them out. That didn't explain why the slot machines wouldn't take them or this alleged waiting period, but I didn't ask.
However, I did say that I had about $1,000 worth of loose change and asked if they would exchange it for cash. He said "yes," and confirmed it with another cashier.
I think I will return with a lot of loose change, perhaps about $300 worth as a trial run and hope they honor this offer. I made the same offer at the Bank of America about two weeks ago and they said "no."
The question for the poll is what do you think of the coin shortage?
Wells Fargo allows me to deposit coins to my checking account but it takes up to 48 hours as they don't count it at the branch.
The receipt lists the vouchers and their total, which is called "Amount Requested." The receipt also tells the "Amount Dispensed." At the bottom of the receipt is: "Please take this receipt to Casino Cage to obtain any missing cash. This receipt expires one (1) year from issuance."
I did take one receipt for $0.10 to the Bally's cage, but I'm saving most of the receipts. The receipts don't have bar codes--my cashier said, "Let me see how much this is for." I told her and she paid me.
So far, most players are not taking their receipts from the redemption machines.
By the way, I went to a Popeye's restaurant, today, and the payment policy there was "exact change or card."
Some casinos have promotions where they award free play for turning in your change. It's widespread, getting tickets which require a cashier. Sounds shady and corrupt, some casinos have usable tickets and some don't. All TITO machines look the same to me, I don't know if it's an option on some and not others.Quote: WizardToday I attempted to cash a slot voucher worth $97.50 at a machine. It gave me $97 in paper money and a voucher for $0.50. I took the $0.50 voucher to another machine and it spit it back at me.
Then I attempted to play it off at various video poker machines and they all spit it right back. I then lowered my standards and attempted to play it off in a reeled slot machine but was rebuffed at every turn. Being cheap bastard that I am, I walked it over to the cashier for my money. The man scanned it, but it didn't read. He then explained that it can take "a few minutes" for such tickets to clear. He kept scanning it over and over, but it just wouldn't take.
As he was doing this, I explained I didn't really care about the 50 cents, but wanted to know what was really going on. He said they had a severe coin shortage and the machines couldn't dispense them out. That didn't explain why the slot machines wouldn't take them or this alleged waiting period, but I didn't ask.
However, I did say that I had about $1,000 worth of loose change and asked if they would exchange it for cash. He said "yes," and confirmed it with another cashier.
I think I will return with a lot of loose change, perhaps about $300 worth as a trial run and hope they honor this offer. I made the same offer at the Bank of America about two weeks ago and they said "no."
The question for the poll is what do you think of the coin shortage?
I don't plan on using it or depositing in my bank account any time soon. Some banks have coin counting machines that will give you a receipt with the total and let you direct deposit it in your account with that bank. If you don't have an account, they of course charge a 9-11% fee.
Other banks require you to roll the coins into $10, $5, $2 and 50 cent rolls for Quarters, Dimes, Nickels and Pennies respectively. This is quite a task if you don't have spare time or patience but I suppose for someone hard up for cash it would be worth it.
ZCore13
The casinos are simply using this as an excuse to pocket anywhere from one penny to 99 cents per customer.
Most people won't waste time on a cashier line just for a few cents. Those pennies add up to basically an advantage play on the casino side.
They are advantage playing the customers by saying sure you can get those pennies if you want to waste time on a cashier line.
After all the whole point of using a kiosk is to avoid the cashier lines.
Something tells me as they add up their sudden windfall of extra profits (and those left behind change does add up) they will simply keep it as the new status quo.
Why spend money to switch the redemption machines back and kill a cash cow?
As for this coin shortage, let's say for argument every single gambler spent the time to collect their change from the cashier. That would mean the cashier has to have all that change at the cage.
So if the same amount of change needed is behind the cage, then it can be put into the redemption machines right?
Except then the casino won't have this extra sudden cash flow
At a Casino in New York, del Lago, they normally had (before the shortage) plexiglass bins where you could deposit your unwanted vouchers. They would donate to a cause each month like veterans, animal rescues, etc. Lots of money got donated!!! Wish all the casinos would do that now.
PS del Lago still closed down by state for covid.
It may be why the kiosks in some casinos are offering the option of donating those cents to a choice of charities. Maybe the casino gets a tax write-off even though they are not making the decision to donate. Or maybe it's just a way for them to screw the state while making the player feel a little better. Years ago I commented that someday, casinos will put a TITO drop slot near the wishing well. This is kinda the same thing.
For the record, it does cost a lot to keep money sitting around in machines. Not the inventory aspect, but the labor involved in filling them. Plus, without the coin dispensers, you can put additional bill dispensers in the kiosk, further reducing labor costs.
One of the problems I'm getting with the cashless way of life is the lack of coins for parking meters etc. Usually I keep back £1 coins and save end-of-day £5 notes for the holiday fund. Holiday fund hasn't seen a dickie bird the last few months!
Quote: Wizard
The question for the poll is what do you think of the coin shortage?
I think it is just another made-up "crisis." Given how many businesses are closed there should be far fewer coins ordered.
One penny in 1914, when current money standards started, is equal to $0.26 now. It is probably time we rounded to the nearest quarter when making change.
As for the coin shortage, there's also the issue of infected money so the cash & coin phobia is getting very real for employees who handle money. I'm not one to use plastic on a total basis but this is causing some problems for me. I'm used to cash, and the stores can't give me change, except during some ring-up error.
I've stocked up on a year's worth of quarters for laundry, but will that be enough? These laundry machines won't retrofit themselves with wi-fi. Need a candy bar on a toll road? The vending machines may not have change and do they take credit cards? Every card transaction costs 28 cents or some such. Stores may want to put a $25 minimum on credit card purchases. I'm thinking of getting 2-4 rolls of pennies, nickels, dimes (maybe half dollars and silver dollars too) for those times when I actually need exact change instead of a card, like during a blackout. This coin shortage could extend to a cash shortage in a matter of months, but no one knows right now.
TV is showing a map of power outages through Friday. I'm surprised my area was shown as extensive power outages.
PS: I bought 4 rolls of pennies, nickels and dimes for $30. Picked up 20 loose silver dollars, they're gold colored now. Bank was pretty much out of half dollars and blamed collectors.
Agreed, and the only ones making up the "crisis", are those who want to deny it exists.Quote: AZDuffmanI think it is just another made-up "crisis."
Quote: AZDuffmanI think it is just another made-up "crisis."
Of course it's made up. You just called a shortage a crisis instead of a shortage.
Quote: Gabes22There are shortages all across the spectrum all you have to do is look around. Certain shortages, like cleaning products, were due to a spike in demand. Others are due to a lack of production. I work at a car dealership and we are low on cars, like big time, mainly due to a lack of production. We may run out of our most popular seller in September sometime. We typically have a 90 to 120 day supply of vehicles, today we have a 38 day supply. Many auto plants in the US shut down temporarily or some stopped making cars and instead made ventilators due to COVID. Coins, are due to a lack of production as the mint shut down for like 3 months
I heard this on cars. People forget sales were down 50% but production was down 100%. The "days supply" always interested me. You have to study it a bit to get that when you get to too few days that means there is not the variety to choose from, so a customer may walk because they do not have what they want even though there are "38 days" supply.
Some of it may be parts. I am waiting two months plus for a hot tub because the plant cannot get all the parts they need to produce to demand. It is a weird time. Supposedly a recession yet demand in these items cannot be met and if you have the right job recruiters keep calling.
So I made an effort to change my habits. I made sure to always have a cup of change in my car, then used it at drive-thrus, and grabbed some before going into any store or restaurant.
It worked.
I finally got rid of that change - just a few months ago. 😁
Of course, that bank, and other locations, are now providing premiums on change that is brought in. 🤬
Quote: AxelWolfDon't get rid of your change for even money exchange. There's a premium on change.
Where can I get a premium?
Quote: billryanA number of US Mint items will be made in very low numbers this year. There may be an opportunity in them.
There's more opportunity in Cytodyn than collecting loose change
Quote: darkozThere's more opportunity in Cytodyn than collecting loose change
Yes, because people buy their loose change from the mint. One example may be this year's Silver Eagles. Normally produced at West Point, production was shifted to Philadelphia for several weeks and those coins may be among the lowest produced in numbers in many years. When maintenance issues caused a similar situation in the mid 90s, those coins are now among the most sought after and expensive coins in the last generation. Some sets are made to order, and the numbers ordered are well off the mints normal numbers.
Many sets are closed out, meaning the numbers to be made are already locked in.
In recent years, few US Mint products have increased in value over their initial costs so many collectors have learned to buy at discount on the secondary markets, but this year may be an exception.
As with any investment, do your homework and don't just read the Mints press releases.
Quote: darkozThere's more opportunity in Cytodyn than collecting loose change
There is no need to hijack and turn any thread you can into this.
Quote: WizardWhere can I get a premium?
Several casinos are offering xx% free play premium over base amount for coins.
There was a big sign on it for a couple weeks saying no service charge because of coin shortage so the kids returned with their coin banks and although the ticket had a service charge, the customer service counter added it back in and gave the kids everything that they put into it.
Quote: odiousgambitevidently an impact of shutting down, but how exactly does it happen? In other words, there are probably plenty of coins but they have somehow wound up in a place where they are accumulating and not re-distributing. Doesn't seem to be the banks. So how does that work?
If the average person is keeping twice as many coins that really adds up.
I went to WalMart and got a 60 cent receipt, took it to the cashier, and he must have been new because he spent nearly 5 minutes not being able to get my change, even after a manager was called over. The manager had to take me to her register to ring it up. Maybe they are disabling cash registers from accepting bottle return receipts, idk.
Cashless Tolling - New York State Thruway https://www.thruway.ny.gov/cashless/cashless-tolls.html
This will be impractical for the millions of homeless people roaming the roads without an EZ Pass supported by a paid off credit card.
Cashless Tolling Project - New York State Thruway https://www.thruway.ny.gov/cashless/index.html
Quote: ChumpChangeThe NYS Thruway is going cashless. They're setting up metal structures over the freeway and over entrances & exits. They'll either use your EZ-Pass or grab your license plate and send a bill to the registered car owner. I think they took the toll collectors out of their booths for COVID-19 back in March 2020. They'll be removing all the toll booths through next year.
Cashless Tolling - New York State Thruway https://www.thruway.ny.gov/cashless/cashless-tolls.html
This will be impractical for the millions of homeless people roaming the roads without an EZ Pass supported by a paid off credit card.
Cashless Tolling Project - New York State Thruway https://www.thruway.ny.gov/cashless/index.html
I think they are tieing to your vehicle registration. You won't be able re-register your car if you owe tolls.
Red Rock casino cashes tickets as the Wizard describes in the original post. Dont tell anyone but I've picked up a couple of dollars worth of abandoned tickets ranging up to 75-cents each. Mostly they are tickets for pennies.
The 75cent ticket was left in the machine when someone cashed a ticket for $600.75
Suncoast gives you the pennies.
Smith's supermarket in Vegas gives change at the self checkout machines. If you go to a cashier the change is loaded on your Smith's card and it is applied to your next purchase.
I have a 6-cent ticket in my wallet from Red Rock right now. That's what's left after I redeemed the other "penny tickets" for a dollar.
If I spent a few hours in the casino I'd probably pick up five bucks. But I just go in to play my free play and leave. Usually in and out in less than ten minutes including getting my free temperature check, a handful of free masks and washing my hands.
If you're going to turn me in for picking up the penny tickets I'll also confess to playing $350 i found abandoned on a slot machine at Caesars twenty years ago. I sat there for a half hour waiting for someone to come by before I played it.
Quote: AlanMendelson
If you're going to turn me in for picking up the penny tickets I'll also confess to playing $350 i found abandoned on a slot machine at Caesars twenty years ago. I sat there for a half hour waiting for someone to come by before I played it.
Strange to have an anti-AP stance while vulturing abandoned credits.
Quote: darkozStrange to have an anti-AP stance while vulturing abandoned credits.
Short self exclusion, no?
Quote: darkozStrange to have an anti-AP stance while vulturing abandoned credits.
Who ever said I was anti AP?
You dont have to answer. He's been saying that for years.
Quote: darkozHas there been any issues with coin tolls on the highway?
The San Francisco area bridges have pulled all toll takers - instead, if you don't already have FasTrak (the California version of E-Z Pass), each toll booth takes a photo of your car's rear license plate (which it already does, in case your transponder doesn't work), and you are then sent a bill.
Quote: ThatDonGuyThe San Francisco area bridges have pulled all toll takers - instead, if you don't already have FasTrak (the California version of E-Z Pass), each toll booth takes a photo of your car's rear license plate (which it already does, in case your transponder doesn't work), and you are then sent a bill.
Before switching to Nevada I averaged two bills a year from the Golden Gate Bridge and never in my life did I drive there. A case of mistaken identity. LOL
It only involved one postage stamp to return the bill with a note to cancel it.
Quote: ChumpChangeI noticed a couple cars in my town that somebody spray painted the license plates with a silver spray paint. What would that be about?
The Lone Ranger returns?
Quote: AZDuffmanI heard this on cars. People forget sales were down 50% but production was down 100%. The "days supply" always interested me. You have to study it a bit to get that when you get to too few days that means there is not the variety to choose from, so a customer may walk because they do not have what they want even though there are "38 days" supply.
Some of it may be parts. I am waiting two months plus for a hot tub because the plant cannot get all the parts they need to produce to demand. It is a weird time. Supposedly a recession yet demand in these items cannot be met and if you have the right job recruiters keep calling.
So, I work for a Nissan dealer. If I sell as dealership 12 Rogues a month and I have 15 new Rogues on site that is a 1.25 month supply or 38 days. Where it gets tricky with variety is there are 4 trim levels and 6 special packages and 9 colors. So if you specifically want a black on black SV the odds of me having that in stock are slim and if I do not other dealerships have similar issues for me to trade so I can get one. If I have 48 Rogues in stock the odds greatly increase that I have it or can get it. I live in the Chicago market and due to the shortage I had to go to Columbus, OH to get a car for a customer. Then you get into the whole issue of a customer now wanting a discount because the car will now have 350 to 400 miles
Quote: Gabes22So, I work for a Nissan dealer. If I sell as dealership 12 Rogues a month and I have 15 new Rogues on site that is a 1.25 month supply or 38 days. Where it gets tricky with variety is there are 4 trim levels and 6 special packages and 9 colors. So if you specifically want a black on black SV the odds of me having that in stock are slim and if I do not other dealerships have similar issues for me to trade so I can get one. If I have 48 Rogues in stock the odds greatly increase that I have it or can get it. I live in the Chicago market and due to the shortage I had to go to Columbus, OH to get a car for a customer. Then you get into the whole issue of a customer now wanting a discount because the car will now have 350 to 400 miles
I heard that some vehicles were down to like 10 days supply at one point! Chevy dealers having just a handful of Silverados instead of a normal 50. I know a guy said they had a ton of supply because there were 80 cars or something. I explained that if there is nothing behind them in the chain the dealer will be less likely to deal. Floor financing of $200 vs nothing to sell, why deal big?
Even though I am 5 years out I have been playing online with equipping my next vehicle. I was amazed there were about 5 fairly close by, within 60 miles.
Quote: ChumpChangeI noticed a couple cars in my town that somebody spray painted the license plates with a silver spray paint. What would that be about?
People thinking it will defeat photo enforcement. Photo enforcement is a sore subject, but the sprays will not work.
Quote: AlanMendelsonBefore switching to Nevada I averaged two bills a year from the Golden Gate Bridge and never in my life did I drive there. A case of mistaken identity. LOL
It only involved one postage stamp to return the bill with a note to cancel it.
Right after I bought a new car, I got two bills - one because my old car was caught going across a bridge without a FasTrak transponder (and I had switched my transponder to my new car - it can take forever for California's DMV to process paperwork; I once waited four months to get license plates for a car), and one from San Diego (500 miles away) because it had the same temporary license plate number (which I thought wasn't supposed to be possible).
