But make sure you give them the fifteen dollars and the three pennies all at once and they enter $15.03 as the amount received into the register. Otherwise, they might have to void the entire transaction (and have to call a manager to do so) and start completely over.
That was certainly me about 20 years ago.
Immediately pre-COVID I’d use cash to buy something maybe once every 2 months. The idea of seeding my pocket with value-free change in the morning every day on the off chance that today would be the day I could trade 4 value-free tokens for 2 different value-free tokens (or even for zero value-free tokens) would be nuts.
My wallet for the last 20-ish years doesn’t even have a place for bills; it’s just a card case with a couple of hundreds folded in there for emergencies. Once one of those gets busted I’m sorta at a loss how to get rid of the smaller bills. Unlike coins they’re too big to just throw in the trash.
When I was working I’d slowly use up $1 & $5 bills as tips. Haven’t had that excuse for a few months now but will be going back again soon. Once I retire for good I’d expect anything smaller than a 100 and certainly anything smaller than a $20 would just pile up until I had enough to bother visiting a bank to get rid of them. I wish xkcd worked.
I don’t think that putting a bunch of change in my pocket and having it get in the way of my phone and keys in the weeks between making cash purchases that require change is ‘effortless’ or worthwhile, carrying only bills in my wallet is much easier. Using cash to buy things like snacks while gaming or drinks at a bar is always set up to round to dollars or sometimes quarters, and I’d rather just get back 3 quarters than carry in change to possibly avoid it. Other purchases typically go onto a credit card, and on the rare occasion that I’m buying $12.28 of something I’ll just take the loose change then ditch it when I get home. Back when I used to use cash for most purchases it was different, but it’s safer and more convenient to just use plastic most of the time. Usually I get $100-$200 when I bring in my change bowl to convert to reasonable money. (This is pre-Covid perspective, now I use cash even less and am not doing live social events).
Over the years there have been many discussions about using cash vs credit cards for incidental purchases.
One thing I called out a couple of times in those threads is that folks who live deeply urban may make several small incidental purchases in a typical day. They walk from home to the bus or subway, they buy a coffee out, they buy a newspaper from the press stand, they buy lunch at work perhaps from a street cart, they pick up groceries for tonight’s meal only while walking home, etc., etc.
Meanwhile a suburbanite does (almost) none of that. They may well go out to lunch, but it’ll be at a corporate franchise. When they buy groceries, it’s a week or two’s worth and fills the car.
Which means an urbanite has lots of opportunity to handle change & small bills and has motivation to diddle with it at each purchase to trade in pennies for dimes and singles for a 5-spot. Whereas the typical suburbanite, even if they have the exact same income and budget, has far less opportunity and hence far less motivation to mess with cash, much less exact change. If I’m buying $88.37 of groceries handing them five 20s or a C-note is close enough. Digging out the extra 2 pennies seems a bit fussy. Especially when that’s the only cash purchase I’m making today.
Bottom line: Pre-COVID even in the 20-teens, fiddling with change isn’t totally insane, provided you’re making many small cash purchases per day. Which is the norm for some lifestyles and totally not for others.
So you walked out with three coins of significant value. But that required that you walk in with three coins of insignificant value.
I can’t say that I’ve noticed a coin shortage. In fact, I’ve got several million of them in storage.
That was especially the case in the past when using a card for all purchases was frowned on or not allowed. Many places have gotten past that now, even dive bars. Old habits die hard and perhaps other urban cities haven’t moved to cards everywhere like Chicago has
I try to think ahead and keep a variety of coins in a pocket, so as not to need much fiddling to give correct change. Often, it seems, I must fiddle anyway, if only bc money can be so very unpredictable.
Even if CoinStars were operating, I don’t want a gift card nor will I pay an 11% “convenience” fee.
I have an appointment next week to cash them in at the bank. Lobbies are appointment only, won’t take in the drive in.
See? I get half way there. Not willing to pay CornStar, as it offends my frugal upbringing to pay for something I could “easily do myself”, too lazy to actually ever do it.
At this point, I don’t generate much change, so when I have any, I just give it to my kid. He gets excited.
I buy just enough on Amazon that I’m happy using Coinstar for Amazon “credit” at full value. I would never do the cash option that gives Coinstar a 20% cut.
But the coinstar is in my grocery store, where i shop anyway, thus a gift card loses me nothing.
Even better if they’re a) Krugerrands, and b) yours, not your employer’s.
If you aren’t old enough to have been around in the 1970s you would have found the purchasing power of a couple of 5DM coins astonishing. At the inexpensive Italian restaurant I frequented ten marks was more than enough for a meal with wine. It seemed that most of their business was transacted in coins; when you were done the waiter would come to your table with a big zippered coin purse, take your money and give you your change. Once or twice I got a peek into the bag and saw very little paper currency inside; it was mostly coins.
You’re being pressured to spend your money at Coinstar’s preferred retailers. Otherwise you don’t get full value for your mo ey.
Some Coinstar machines give you full credit for the store they’re in the entryway of if you use it that day.
Agree you’re being pressured. But if it’s full value at a store (or online retailer such as Amazon) that you were going to use anyhow, the pressure is immaterial.
I agree it’s an evil shortcoming of human nature that folks will buy stuff they don’t need just to use up a coupon. “Look how much money I saved buying stuff I don’t want!” is a dumb refrain. But common.
I have heard there is a coin shortage. But it’s certainly not happening here in Hawaii.
[quote=“LSLGuy, post:44, topic:916762, full:true”]
They walk from home to the bus or subway, they buy a coffee out, they buy a newspaper from the press stand, they buy lunch at work perhaps from a street cart, they pick up groceries for tonight’s meal only while walking home, etc., etc.[/quote]
Why wouldn’t you just use a card for all of that? Yeah, in the old days you couldn’t use cards for small purchases, and small vendors couldn’t take cards (or could only do so in hilariously cumbersome ways), but now you can just swipe a card for any of that and not have to mess with cash or change.
Also, even back in the 90s (when cards were far from universal) street carts typically had prices that were in dollars or quarters, because no one wanted to mess with a bunch of annoying change. Like the little bagel carts would set their price to be a dollar for a coffee and a bagel, because the whole transaction would take less than 10 seconds if you could just hand him a dollar and grab your food, but would take a minute or more if you were trying to juggle change to pay $.93 or $1.02. More expensive carts might have something that comes out to $4.50 or $9.75, but you’d just hand him a five and get back 2 quarters, or hand him a $10 and get back one. None of those guys wanted a long transaction with a lot of digging in pockets for one more penny to even it out, or to have to hand out more than 3 coins in a transaction.
My experience living in an urban area is that all of the ‘quick transaction’ places operated in dollar or quarter prices, and the slower paced places are all places that anyone with a bank account would probably use a card now.
Many vendors in the USA ask that you not use a CC for purchases under $10, and if you are using a debit card like that- you are just asking for fraud.