This weekend granddaughter, Caitlin visited from Spokane with the news that she and her husband Mark will be moving to Juneau, Alaska. Mark is receiving a promotion with his company, and they are off on a new adventure.
Caitlin is a banker with Columbia Bank in Coeur d'Alene, Idaho. She shared that the banks are not getting quarters for their tellers. Covid has impacted pocket change shortages along with hand sanitizer and toilet paper. Pocket change is in such high demand that 7-Elevens offered a free Slurpee for people who traded in $5 worth of rolled coins for cash.
It takes money to make money. Did you know that a nickel costs 7.42 cents to produce, a dime 3.73 cents, a quarter 8.62 cents, and a penny 1.76 cents? I have wondered whether coins will be replaced in our monetary system since it is so expensive to mint them.
Do you have a stash of coins you’ve saved up over time? There may be some treasures hidden in that collection. A 2005 Kansas state quarter that read “In God We Rust” had a value of up to $100. A 2004 Wisconsin state quarter with an extra leaf was valued up to $1,500. The 1955 “double die” penny; Lincoln looks the same, but the “1955” and “liberty” appear to have shadows could have a value up to $1,800.
Review Your Health Coverage Annually
Open enrollment begins every year in mid-October; you can review your coverage, with the help of Medicare Plan Finder (medicare.gov/plan-compare). Remember plan options vary from state to state. The initial Medicare Enrollment Period allows you to sign up for Parts B and D when you turn age 65. The enrollment period begins three months before your birthday month and ends three months after your turn 65. It includes your birthday month.
Did You Know?
House swapping is on the rise. This is when someone stays in your house, and you stay in theirs. Do you want to spend your vacation in a romantic castle, a beach front cottage, or a town house in a vibrant city? There are more than 50 home-exchange networks to connect you with other homeowners who want to swap. The fees range from $60 to $150 but there are no rental fees.
Judith McGee, L.H.D., CFP®, ChFC®
Executive Vice President and Senior Lead Advisor
The latest reports on inflationary trends are available this week. Transitory or not, inflation has been rising for the past several months. The Consumer Price Index has risen 5.3%, the Producer Price Index is up 8.3%, import prices have increased 9.0%, and export prices have climbed 16.8%.
Source: Broadridge Investor Communication Solutions, Inc.
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