What Should I Do with My Loose Change?

The video discusses the current coin shortage in America, exacerbated by COVID-19, and its impact on cash-reliant individuals. It explores the historical value of coins, particularly pennies, and the reasons behind their continued production despite inflation. The origins of piggy banks are explained, and various methods for managing loose change are suggested, including using coin machines, banks, and donating to charity. The video emphasizes the importance of recognizing the value of change in a digital age and encourages thoughtful spending habits.

What is the main reason for the current coin circulation disruption in the U.S.?

• Rise in digital payments

• Increased online shopping

• COVID-19 pandemic

• New government policies

Why do some economists worry about eliminating the penny?

• It would increase production costs

• It could lead to a spike in inflation

• It would decrease consumer spending

• It would cause a shortage of nickels

What is the historical origin of the term 'piggy bank'?

• Named after a famous banker

• Inspired by the shape of a pig

• Coined by a children's book author

• Derived from a type of clay called 'pug'

What is a common fee associated with using coin machines?

• 5%

• 10%

• 15%

• 20%

What is a recommended use for loose change according to the video?

• Throw it away

• Use it for large purchases

• Exchange it for foreign currency

• Donate it to charity

Why might banks refuse to accept coins?

• They charge a fee for processing

• Federal regulations prohibit it

• They are too busy

• It's up to the bank's discretion

What is a benefit of giving loose change to children?

• It helps them learn to count

• It increases their allowance

• It reduces household clutter

• It teaches them about saving