$1 MILLION LEFT AT AIRPORT SECURITY

Should the U.S. get rid of pennies, nickels and dimes? The debate has gone on for years. Many people argue for keeping coins on economic-fairness grounds. Others call for eliminating them because the government loses money minting low-value coins.

One way to resolve the debate is to check whether people are still using small-value coins. And there's an unlikely source of information showing how much people are using pocket change: the Transportation Security Administration, or TSA. Yes, the same people who screen passengers at airport checkpoints can answer whether people are still using coins – and whether that usage is trending up or down over the years.

Each year, the TSA provides a detailed report to Congress showing how much money is left behind at checkpoints. A decreasing amount of change would suggest fewer people have coins in their pockets, while a steady or increasing amount indicates people are still carrying coins.

The latest TSA figure shows that during 2023, air travelers left almost US$1 million in small change at checkpoints. This is roughly double the amount left behind in 2012.

At first glance, this suggests more people are carrying around and using coins. But as a university researcher who studies both travel and money usage – as well as a keen observer of habits while lining up at airport checkpoints – I know the story is more complicated than these numbers suggest.

People lose money while going through security for a few reasons. First, some cut it close getting to the airport, and in their rush to avoid missing their plane, they don't pick up everything after screening. Second, sometimes TSA lines are exceptionally long, leaving people to again scramble to make up time. And finally, TSA checkpoints are often confusing and noisy places, especially for new or infrequent travelers. Making it more confusing is that some airports have bins featuring advertisements, which distract travelers who only quickly glance to check for all their items.

Adjusting for both inflation and the number of people screened shows no change in the amount of money lost. My calculations show back in 2012 about $1.10 in coins was lost for every 1,000 people screened. In 2023, about one penny more, or $1.11, was lost per 1,000.

The world is increasingly using electronic payments. The data from TSA checkpoints, however, clearly shows people are carrying coins at roughly the same rate as back in 2012. This suggests Americans are still using physical money, at least for making small payments – and that the drive to get rid of pennies, nickels and dimes should hold off a while longer.

To read the complete article, see:
Americans leave a huge chunk of change at airport security checkpoints - here's what it means for the debate over getting rid of pennies (https://theconversation.com/americans-leave-a-huge-chunk-of-change-at-airport-security-checkpoints-heres-what-it-means-for-the-debate-over-getting-rid-of-pennies-229958)

 

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