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RuralRon's Blog

19 Nov 2020

Covid and the death of money?

Coins | RuralRon

I have noticed a disturbing trend in my life recently that is a direct affect of the covid virus- NO POCKET CHANGE!Normally (or should I say "in a prior existence") I would go to the atm and get cash several times a month to spend on little stuff like coffee or tips etc. Always put the change in a coffee can. The can would fill up every few months and I would take it to the grandsons. A nice routine that I got used to. As you all know, at the beginning of the pandemic there was a shortage of circulating coins. This made plastic the preference for businesses and significantly reduced the use of cash. One day I realized that the cash in my pocket had been taken out of the atm months ago! All of my transactions for the last six months have all been plastic.Am I the only one or are we seeing the death of cash?

Comments

user_62358

Level 4

Too young for debit or credit card. My parents do all things digital. My grandparents do all things cash. Grandpa keeps the coins coming.

Kepi

Level 6

I like to pay with cash when possible..no debt card for me. Computer systems go down...a card won't pay for your purchase. Credit card for on-line purchase and reservations. And I admit it...I still use an old fashioned checkbook ; ) haha Thanks for a good blog!

Long Beard

Level 4

The never ending debate. The way I see it, related to a personal experience, never going to happen. I was on the other side of Massilion, Ohio and stopped for fuel. Well over a hundred miles from home. My card was denied at the pump, although clearly I had more than enough in the bank to back the purchase. Going inside, the same thing. Declined. After some choice words, I paid in cash and returned to fuel the car. Waiting, and thinking, I called my bank. Apparently their server was down and would remain so until Monday, two days away. My point is, what do you do when the computers crash? Those in control understand this and that is why hard currency will always be around.

Stumpy

Level 4

We pay all bills online, as well as all shopping, gas, dinner out, goes on plastic. We carry limited cash, for emergencies only. Plastic is easy, one source and we live within our means so we pay it off every month. Hey, we live in Vegas and my wife likes to play the machines and BINGO, she has a budget for that and it's cash. I carry only emergency back up. I have read where there is a club that collects Gift Cards, used and unused, so looking toward the day that people collect old credit cards is not that much of a leap, I don't feel cash will ever go away, but it will become more like the old "Check Book", it will be out there, just not the primary means of commerce, and some eventually will not even accept it. Then an economic crash will occur and cash, or gold, or silver (any cash substitute here) will be king. It's happened before, last during the Great Depression. Great blog on a sobering subject. Thanks, Later!

I still use cash for any coin show, I don't have a debit card so all of my purchases are with change. There isn't a shortage around where I am, but the banks still haven't let me purchase any rolls since this all started.

Longstrider

Level 6

Most of my shopping is online so no cash. Small purchases in town are still cash. Thanks.

CentSearcher

Level 4

I do know of the coin shortage, but whenever I go to walmart or many other stores they always seems to have change

coinsbygary

Level 5

Nope, you are not the only one. In fact, since I retired, practically all my transactions are on-line. So far this year, $27.00 has passed through my wallet. It's funny that two of those dollars came in the mail showing through a window on the envelope. I guess the sender did that to make sure we wouldn't throw it away without opening it. The letter was from Nielsen wanting me to fill out a survey. For returning the survey, they promised to send me $5. Last week I got my five dollars in cash. Now my wife and I are trying to decide where to spend it! I've gotten checks in the mail that I photograph with my phone, and they are deposited. The world is much different today in many more ways than one.

I. R. Bama

Level 5

I haven't seen this here except for one time when I went to the ATM during the first lockdown. Every other time cash has always been available to me. Its too bad the sheeple are totally going to plastic. Not that I don't use it myself more often than not. It just makes it easier for everyone else to track your location, what you spend on. Its all part of the death of privacy and merrily we go along whistling past the graveyard. So what will be the future of Numismatics? I can see a burgeoning area of collecting dead debit cards from various banks. Here you have issues and varieties,,,,

TheNumisMaster

Level 4

I hate to agree with you, but yes, I am also seeing this. I hope and pray that once we get a vaccine, and COVID begins to recede, the circulation of cash and coinage will return to normal. Cheers, NM

"SUN"

Level 5

you make some good points. Without money and aging of collectors, the hobby will recede.

Golfer

Level 5

Didn't understand the change shortage. With more card transactions, why wouldn't there be a change excess? Should be plenty of change out there? Lets all cash in our piggy banks, jars, and car holders. Then banks would say no change allowed! We have to much !

user_9073

Level 5

The Virus has changed how we (don't) handle money. First, In my area banks are drive-thru or by appointment only. This makes it difficult to get coins for some businesses. Second, contactless delivery is all most always by credit card including tip. So less opportunity to hand somebody a few dollars or to say keep the change. Third. with so many employees wearing gloves, some merchants say "electronic only-no cash accepted" to avoid constant changing of gloves. Some of these changes in some places will last beyond the pandemic. This will have some effect on the hobby.

Mike B

Level 7

I hate to disagree. I think I know why I don't have a problem. By car it's twenty minutes to the Federal Reserve bank. We're I live there are many banks. I think that's the reason. The stores and banks put in there order and I get change. That must be the reason. If your a distance from the Fed. And only have a few banks I can see that. I also believe the virus is also a cause . Like Mokie said I see allot of internet ordering. The Virus. The holidays are coming inside internet buying setting a new record. Use a debit card. Credit your paying interest on top of taxes!!

Mokie

Level 5

Even before the pandemic, most of my transactions were with a debit or credit card. I was getting quarters at the bank for my Daughter to use in machines but since school is now virtual, that is also no longer needed. Cash has been very slowly becoming less important in the economy for years, that trend will continue, especially with young people doing more and more online shopping.

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