Many local businesses are displaying signs asking for exact change or to use credit cards due to the national coin shortage.
The Federal Reserve says the coin shortage is not an actual shortage in coins, rather a significant disruption in supply chain and normal patterns of circulation. This due to the many business and bank closures amid the coronavirus pandemic.
A U.S. Coin Task Force was formed. The task force says there’s actually not a shortage, and there’s more than $40 billion in coin already in circulation.
To help address the shortage, the task force is requesting people use their change whenever possible, deposit it into your bank account, or use a recycling coin kiosk.
The U.S. Mint is operating at full production and is minting 1.65 billion coins a month.
