Is there a national coin shortage?

Information verified correct on July 30th, 2020

Use a credit or debit card at your favorite store instead of using cash recently, blame the pandemic.

The coronavirus crisis has stalled the circulation of coins throughout the country leading to a nationwide shortage. That’s really giving new meaning to that’s saying “the cash is king” argument. There are less circulation and less production at the U.S. Mint.

Pinching pennies, nickel and diming, old says now ironically in heavy circulation as the nation faces a coin shortage. The Federal Reserve citing the coronavirus as the cause with businesses closed circulation of coins has decreased dramatically.

Coins

Add to that diminished coin production at the U.S. Mint to help protect employees, results in signs like “Please, consider using coins” popping up at retailers everywhere.

Malls asking customers to use coins noting they cannot make a change, companies spokespersons said that because of the shortage, registers could only accept credit debit and electronic payments at this time.

Wawa posting similar signage at their stores, companies are also asking customers to round up their purchases to help support local charities and the USO through the Wawa Foundation.

The Federal Reserve and the coin minting facilities across the country said that the main reason of the coin shortage is they needed to shut down just like other businesses because of the virus. They are saying there is no money issue, they aren’t trying to push digital currency on us, people just need to be patient while they get the minting machines going again.

Of course, if you prefer credit cards, not a whole lot changes for you because since June the Fed has been working on getting things back on track, they even started a U.S. coin task force past month.




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