Retailers are asking customers to use credit or debit cards, and some are refusing to make change in coins. They say it’s because of the novel coronavirus. The virus may be playing a part; but, there’s more to the coin shortage.
Through deft use of base metals, the U.S. coinage retains a resemblance to its legacy coinage. But, no matter the electroplating and the sandwiching, the reality of inflation cannot be covered over. Our two smallest denomination coins cost more to produce than they are worth, and the penny burdens our transactions with tedious calculations. Temporarily, due to the virus, some of our businesses are suspending dealing in coins. Perhaps soon we will replace our fake legacy coins with coins that make sense.
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Its a movement to a cashless society were our every purchase and movement will be tracked. The 4th amendment is dead…. big brother tyranny is here.
About a year and a half ago, I went to UPS to ship a package and they refused to accept my cash, they said credit or debit card only. I informed them this was the last time I will ship UPS. Of course they didn’t really care because business with them is small potatoes
Is it necessary that the US Mint make a profit producing coinage? The cost of producing penies could be offset by bringing back $500 bills, which cost nowhere near $500 to print. A $100 bill will hardly buy what a $20 did in the 1970s.