Coins and Cash: Shortages, Hoardings, and Threats

What is the cause of the current U.S. coin shortage and when have there been other shortages. Why is there a push to get rid of both the penny and the hundred dollar bill.

Topics covered include:

How many coins does the U.S. Mint produce each year and why hasn't it been enough to avert a coin shortage in 2020.How the U.S. coin shortage in the early 1960s differs from today.How much profit does the U.S. Mint make producing coins even though it loses money minting both pennies and nickels.How often and under what circumstances do U.S. consumers pay with cash.Why the U.S. penny should be discontinued.Why companies and individuals are hoarding cash, mostly in one hundred dollar bills.Why the existence of one hundred dollar bills would impede the effectiveness of negative interest rates in the U.S.Why has the U.S. mint sold 300% more ounces of gold coins in 2020 compared to last year.

Thanks to Chili and Policygenius for sponsoring the episode.