Well,
I predicted Wikipedia in the early '90s. How could I
not have predicted this:
Banks are rationing coins. Why? The US
Mint cut back production of coins so it could distance its staff to
reduce their chances of infection. Reasonable enough. However,
something else happened during the lockdowns: People stopped going
shopping as much. Bank lobbies were closed much or most of the
time. And when people don't hit the stores as often, they have
fewer chances to cash in their piles of pocket change via CoinStar
and other similar machines. At our usual grocery store, the coin
machine was moved out to make room for a new curbside pickup
system. Curbside pickup reduced the number of people entering the
store, and thus traffic past the coin machine. In truth, I don't
even know if it's still there.
So the pennies are piling up. Even I have more of them than I
generally do. Last fall I noticed that I was getting a lot of
old-ish pennies in change, and
wrote
up my theory that older people are dying, and their kids are
cashing in the penny jars in the kitchen cabinets, nightstands, or
other nooks and crannies. I was getting several a day for awhile.
After the first of the year they became a lot less common. I still
don't know why. I now maybe get three a week. Maybe two. Some are
old while still looking very recent: last week I got a 1992-D with
about 90% of its mint luster. Not bad for a penny that's old enough
to vote.
My guess: Not only are the penny jars still out there, the old
ones are filling up even faster and new ones have been started.
Once we're shut of the lockdowns, a yuge pile of pennies
(and other coins) will surge into the bank lobbies and coin
machines, and I will once again see 40-year-old mint luster when I
pop for a coffee at McDonald's.