Coin Shortage

Many+stores+are+accepting+exact+change+or+debit%2Fcredit+cards+only+due+to+a+National+coin+shortage.

Neli Esoy/MSN

Many stores are accepting exact change or debit/credit cards only due to a National coin shortage.

Hana Scheuermann, Writer

From coast to coast the nation has been experiencing a coin shortage throughout the states. Many customers have been affected by the shortage. Several retailers have posted signs asking customers to pay with exact change or a card due to the shortage. 

Many reporters are stating that the shortage was due to the economic slow during the pandemic COVID-19. Unfortunate as this is especially when many businesses have already been forced into closing. Bankers are saying that the coin shortage has lots to do with the circulation of coins.

 The fact that more americans are staying indoors means less coin circulation throughout businesses across the U.S. Normally places like coffee shops,bakeries,concession stands, among other would be common places for the circulation of coins to occur. Yet due to the pandemic many places such as these have closed. Therefore circulation could be a main factor to the shortage.  

According to the U.S Mint, where the current production of coins is held, staff has been scarce due to the current pandemic. Therefore the production of coins along with circulation has been a prominent factor on the coin shortage across the nation. Not only does this have a decrease in coin supply, but due to the pandemic many banks have closed,therefore the supply and demand chain for the nations coins decreases nationwide. 

However as the economy recovers throughout the days, things seem to be turning around. Mint although has seemed to go back to somewhat normal operations. Also The Federal Reserve has announced more control over the distribution of coins throughout banks. As well as starting the rationing of coins to prepare for the future. 

Although this coin shortage isn’t ideal, with strategic thinking and planning ahead many believe it to be temporary. Even as the pandemic continues with heads held high lots hope that this shortage will end soon. With hopes for a better future many hope this shortage will never occur again. 

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