Reason for Penny Shortagegreenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
The penny shortage is caused by banks storing up pennies for Y2K. When the bank runs start, anyone closing out their account or getting a large amount of cash will be directed to a special window. At that window, the bank customer will get all his money -- in pennies -- counted out one at a time. Anyone waiting will be told " Sorry for the wait. Can't you see I'm counting as fast as I can."
Actually this is is pure speculation on my part. It could be true, but I doubt that it is. Don't think its the worst speculation about Y2K that I've seen either.
Reminds me of the story about the motorist who who hand over a $100 bill at the toll both for a 10-cent toll (some years ago). The toll attendant would just wave him through rather than take the time to count out all that change. But the motorist tried the trick once too many times. He was directed to the office where he received all of his change -- in dimes. Last time he tried that trick.
-- Mikey2k (firstname.lastname@example.org), July 28, 1999
At my bank, they take your coins and pour them into a big machine and give you a total, which you can take out in bills. Very convenient.
At most banks, they will not accept pennies unless you put them in rolls yourself. So you need to go out to K-Mart or Office Depot, buy a whole bunch of penny wrappers, go home, and count pennies for a whole weekend, for a few dollars. Forget it.
A penny shortage is a sign of good economic times. People do not need to roll their pennies to buy beer and tobacco.
Wait until economic times go bad. Everyone will have the time to roll their pennies.
Thats the story. No Y2k connection. Unless you are curious when "bad times" will be coming.
-- David Holladay (email@example.com), July 29, 1999.
what a hoot. about the pennies--good one!!!! i have been wondering if this is for real or if there is some gawd-awful conspiracy afoot here and they are doing something else with the pennies. aren't they the only coins we have that are really made from something? copper right? real copper? or some kind of copper and imitation metal mix? is there something sinister the american public can find valuable in copper and the govt wants to make sure we can't do it?
-- appl (firstname.lastname@example.org), July 29, 1999.
-- (email@example.com), July 29, 1999.
Could it be that the machines used to mint pennies are the same machines used to mint 1/10th ounce American Eagles (demand at an all time high?)
Not suggesting anything here...just curious
-- tangbang (firstname.lastname@example.org), July 30, 1999.