The U.S. Mint is asking all Americans to help our economy by using exact change when making purchases.
During the Covid-19 pandemic, a shortage of coins has arisen and banks and businesses are having difficulty making change for their customers. The problem isn’t that we need to produce more coins it is that the coins already produced aren’t circulating through the economy.
“The Mint, which manufactures the nation’s coin supply, is encouraging consumers to ‘start spending their coins, depositing them, or exchanging them for currency at financial institutions or taking them to a coin redemption kiosk.’” usatoday.com
“Until coin circulation patterns return to normal, it may be more difficult for retailers and small businesses to accept cash payments,” the Mint said in a statement (recently). “For millions of Americans, cash is the only form of payment and cash transactions rely on coins to make change.” usatoday.com
Some retailers have been forced to find other means of giving customers change. Many have urged shoppers to use cards or exact change when possible. Large grocery stores like Kroger are accepting cash but not providing change. It will allow customers to load the change onto a loyalty card to use at another visit or to donate the balance to charity.
Other businesses that have been impacted by the shortage include coin laundromats, toll booths, parking meters, vending machines and do-it-yourself car washes.
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