How come we do not use our 2 dollar bills or our one dollar coin?

[briantroutman]

Questioning several merchants about being given odd combinations of quarters and dimes as change, I was informed by them that there is a shortage of nickels.

Can I assume the value's 7¢ for a nickel given the scarcity?

Seven-cent nickel, huh?

[jeffandnicole]

I've never heard of this nickel shortage either. If there was a nickel shortage, that would be front page news.

[kkt]

There is a shortage of the metal nickel due to the increased use of stainless steel.  Indonesia, one of the major producers of nickel, has restricted exports.  I don't think this has translated to a shortage of nickel coins, though.

[bugo]

In 2009 nickel production was way down, but I haven't heard of a nickel shortage.

[1995hoo]

The US coin is 75% copper and 25% nickel. It costs somewhat more than 9¢ for the Mint to produce each one.

I certainly haven't noticed any shortage of the coins, which show up in my change like everything else other than half-dollars and dollars (neither of which I have seen in circulation in a while, although yesterday I took the convertible's car cover to a laundromat and I know their change machine gives dollar coins).

[Takumi]

Guess who said the above-quote to whom and on what show?

Colonel Flagg to Radar on M*A*S*H.

[Pete from Boston]

Guess who said the above-quote to whom and on what show?

Colonel Flagg to Radar on M*A*S*H.

Flagg!  That guy had amazing delivery. 

"Don't play dumb, you're not as good at it as I am!"

[empirestate]

In 2009 nickel production was way down, but I haven't heard of a nickel shortage.

The Earth's core is composed largely of nickel. I guess the world really does revolve around money. <duck>

[1995hoo]

In 2009 nickel production was way down, but I haven't heard of a nickel shortage.

The Earth's core is composed largely of nickel. I guess the world really does revolve around money. <duck>

A first-grade teacher asks her students to come up to the blackboard and draw the most important symbol in the world.

Little Suzie comes up and draws a heart and says it's because love makes the world go around.

Johnny draws a dollar sign and says everyone always wants money.

Tyrone comes up and puts a dot on the board.

"What's that, Tyrone?" asks the teacher.

"It's a period."

"How is a period the most important symbol in the world?"

"Well, I don't know, but this morning at breakfast, my sister said she was missing one, my mother started crying, my father was cussing, and the man next door killed himself."

[roadman]

The edge of a quarter is different from the edge of a dollar coin.

But not different enough that you can easily figure out the difference when felling though the loose change in your pocket.

[roadman]

Guess who said the above-quote to whom and on what show?

Colonel Flagg to Radar on M*A*S*H.

later on in the episode
Radar - And then he said he was gonna shove nickels up my nose.
Hawkeye - Oh really.  What song was he going to play?

[Takumi]

Guess who said the above-quote to whom and on what show?

Colonel Flagg to Radar on M*A*S*H.

Flagg!  That guy had amazing delivery. 

"Don't play dumb, you're not as good at it as I am!"

"Colonel, I think you've made a little mistake."

Flagg: "I don't make little mistakes!"

[6a]

We haven't had any problems with nickels at work. I usually end the shift with more nickels than I started with.

If there is a nickel shortage, my guess would be that it has less to do with melting and more to do with increased numbers of vending, self-checkout, etc machines that economize on space and parts by not having a hopper for dimes and simply dispense more nickels to fill the gap.

At least in vending, that's not the reason, the coin mechs are pretty much all the same size. It has more to do with practicality than anything else. If a machine runs out of dimes it'll spit out two nickels, if it runs out of nickels you get the dreaded "use correct change" message (since at that point it cannot make change.) There are few service calls more annoying than that.

[1995hoo]

We haven't had any problems with nickels at work. I usually end the shift with more nickels than I started with.

If there is a nickel shortage, my guess would be that it has less to do with melting and more to do with increased numbers of vending, self-checkout, etc machines that economize on space and parts by not having a hopper for dimes and simply dispense more nickels to fill the gap.

At least in vending, that's not the reason, the coin mechs are pretty much all the same size. It has more to do with practicality than anything else. If a machine runs out of dimes it'll spit out two nickels, if it runs out of nickels you get the dreaded "use correct change" message (since at that point it cannot make change.) There are few service calls more annoying than that.

I've always wished there were some way to override that if you don't care about the change. Say, hypothetically, a soda costs $1.75 and the machine is out of change, but I really want a soda and am willing to pay $2.00 for it. Can't do that in many vending machines.

[roadman65]

Get ready now for the debit card feature on vending machines as some allow you to swipe your bank card to obtain a snack or drink.  I have seen it in the employee break room at a company I recently visited which I thought was neat.

[jeffandnicole]

I've always wished there were some way to override that if you don't care about the change. Say, hypothetically, a soda costs $1.75 and the machine is out of change, but I really want a soda and am willing to pay $2.00 for it. Can't do that in many vending machines.

Then they just raise the price to $2!   

Sucks though if all you have is a dollar, 3 quarters, and 3 dimes!!!

Get ready now for the debit card feature on vending machines as some allow you to swipe your bank card to obtain a snack or drink.  I have seen it in the employee break room at a company I recently visited which I thought was neat.

They are quite common now.  My gym has several vending machines; all of which are equipped for credit cards.

[hotdogPi]

We should make a $2.50 coin. ("2.50" and "2 1/2" are referring to the same coin.)

Q: Why are we making it?
A: In the 1920s, there were coins that could buy the equivalent of $10 or more. Now, our largest coin that is commonly used is just $0.25. This is just the first step. Also note that there are currently €2 and £2 coins in circulation.

Q: Will circulation of the $0.50 and $1 coins be increased?
A: $0.50, probably not (Canada doesn't use them, even with commonly used $1 and $2 coins). $1, yes.

Q: What will it look like?
A: It is bimetallic. The size will be similar to the $2.50 gold coin of the 1800s and early 1900s. Security features plus lettering on the edge.

Q: What will it be made of?
A: The center is made of the same materials as the current dollar coin, while the thin outer ring is made of the same as the current quarter.

Q: Who will be on it?
A: Henry Clay. He deserves to be more well-known.
Q: Will it be made of clay?
A: No. That's just his name.

Q: Why $2.50 and not $2?
A: Historical reasons. We had $2.50 coins made of gold until the 1920s. We have never had a $2 coin.

Q: Will this look similar to Canadian or Mexican coins at all?
A: Nothing like $2 in Canada. The outer ring is very thin. Maybe like $1 or $2 in Mexico, but the US coin will be thicker.

Q: Will the denomination say "$2.50", "$2 1/2", "2 1/2 Dollars", or "Quarter Eagle"?
A: The second ($2 1/2), unless people use "Quarter Eagle" as a nickname, in which case it will be changed to that.

Q: What will be the nickname for the coin?
A: It cannot be determined until it gets released.

Q: What will happen to the $1 and $2 bills?
A: Same as Canada. The only difference is that our coin is $2 1/2, not $2.

Q: Will there be a $5 coin?
A: If the $2 1/2 coin works well. If there is a $5 coin, the colors will be reversed from the $2 1/2 coin.

[jeffandnicole]

We should make a $2.50 coin. ("2.50" and "2 1/2" are referring to the same coin.)

Is this going to be in the Naked Gun coin series?  Will the next coin be worth $33 1/3?

[Pete from Boston]

Get ready now for the debit card feature on vending machines as some allow you to swipe your bank card to obtain a snack or drink.  I have seen it in the employee break room at a company I recently visited which I thought was neat.

Get ready?  This has been around for a bunch of years. 

[kkt]

In the 1920s, there were coins that could buy the equivalent of $10 or more.

In the 1920s, there were circulating gold coins up to double eagles.  According to the CPI inflation calculator, that would be about $270 today.

[mgk920]

In the 1920s, there were coins that could buy the equivalent of $10 or more.

In the 1920s, there were circulating gold coins up to double eagles.  According to the CPI inflation calculator, that would be about $270 today.

Oh, far more than that, as I mentioned up thread and in other threads, comparing prices of many things between then and now, $20 before the end of the gold standard in 1933 is about $1600 in 2014 money (80:1 inflation, almost two full 'zeroes' being added to the dollar, between then and now).  It always amazes me (or, maybe it shouldn't) that the feds underestimate that reported CPI number by such an amount, almost a full order of magnitude.



Mike

[kkt]

I know what the CPI is based on, what are your calculations based on?

[Scott5114]

We haven't had any problems with nickels at work. I usually end the shift with more nickels than I started with.

If there is a nickel shortage, my guess would be that it has less to do with melting and more to do with increased numbers of vending, self-checkout, etc machines that economize on space and parts by not having a hopper for dimes and simply dispense more nickels to fill the gap.

At least in vending, that's not the reason, the coin mechs are pretty much all the same size. It has more to do with practicality than anything else. If a machine runs out of dimes it'll spit out two nickels, if it runs out of nickels you get the dreaded "use correct change" message (since at that point it cannot make change.) There are few service calls more annoying than that.

I haven't seen it much with vending machines, but in casino gaming, the cash-out kiosks do not dispense dimes or $10s.

[jeffandnicole]

I did see a vending machine that allowed $5s, and said it dispenses $1 bills as change.

Many ATM won't dispense $10's either, when increments of $5 withdrawals are permitted.

The $10 bill is apparently only used when stores require change be given in the least amount of bills. Near the end of my shift, I'd prefer to hand out 5's to reduce the amount of money I needed to count when I was done. 

[mgk920]

I know what the CPI is based on, what are your calculations based on?

Comparing the prices of comparable things.

Examples that I have already mentioned:

-Good beer in a bar - 1919 $0.05  2015 $4-5
-Night in a decent downtown hotel - 1920s $2  2015 $150-200
-A really nice room - 1920s $3  2015 $250-300
-A decent lunch - 1920s $0.05-0.10  2015 $8-10
-Daily 'hard copy' newspaper - 1920s $0.03  2015 $1.75-2.00
Etc.

Mike