A video of a man trading in over $3,700 worth of coins for bills at a bank has gone viral on TikTok, where it received 5.9 million views and over 237,000 likes at the time of writing.
The clip shared by Shannon Scarrott (@shannonscarrott), which has not been independently verified by Newsweek, shows a man pouring a giant Coca Cola bottle-shaped container of coins into a NatWest coin counting machine.
A message overlaid on the video read: "2 years of savings goal, £3050 [around $3,526] for Disney world park tickets, did we make it [monkey emoji with hands covering eyes]."
The coin savings seen in the latest video might seem unusual in the modern era, but the role of cash has shifted since the COVID-19 pandemic, according a report by the Bank for International Settlements (BIS), an international financial institution owned by central banks that "fosters international monetary and financial cooperation."
A 2021 report by the Committee on Payments and Market Infrastructures (CPMI) of the BIS found that while the pandemic raised the use of digital and contactless payments, "cash in circulation reached a decade high due to a surge in demand for high-value banknotes, suggesting that cash was increasingly held as a store of value rather than for making payments."
The report said: "As a means of payment, cash lost ground to digital and contactless methods of payment in 2020, while the demand for cash as a store of value rose precipitously."
@shannonscarrott 2 years of savings for Florida park tickets did we do it ?? 🇺🇸🐭🎢🙌🤞 #lucky #2yearsago #savings #moneytok #money #florida #disneyworld #2023 #orlando
♬ original sound - Shannon Scarrott
The pandemic, however, did not change "the public's perception of cash being a safe haven," according to the CPMI report.
"Many central banks are exploring the potential of, and need for, a digital form of cash, a retail central bank digital currency (retail CBDC) that would provide consumers with the same protection as cash does today, while allowing them to make payments without carrying physical banknotes and coins," the report explained.
The latest viral video showed the man filling the coin machine in batches, as the digital reading of the total cash amount increased rapidly with each load before reaching a final sum of £3,261.43 (around $3,771) by the end of the video.
Several TikTokers were delighted for the man who smashed his goal by over $200. Some were at the edge of their seats watching the clip, praying that the man finds he's reached his goal by the end of it.
Aphex Buddy said: "That's dedication right there. I hope you saved enough and have a wonderful time folks!"
In a comment that got 5,343 likes, user Carrieee said: "I have never been more invested in a tiktok [video] [crying laughing emoji]."
User lindsb2022: "When it slowed right down just over £600 [about $690] I nearly shed tears & started a go fund me," in a comment that got 2,612 likes.
Windthebobbinup: "I was thinking poor babies at £400 [around $460] not realising still had a full bottle [crying laughing emoji]."
Cariad Morgan: "Not me screaming come on at my phone then crying silently from second hand proudness! I wept for you so expect a daily blog of this holiday now [crying laughing and floating hearts smiley face emojis]."
Newsweek has contacted Shannon Scarrott, the original poster, for comment.
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Uncommon Knowledge
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
About the writer
Soo Kim is a Newsweek reporter based in London, U.K. She covers various lifestyle stories, specializing in travel and health.
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