Is There Really A Coin Shortage? Or Just Too Much Cheap Advice…
Forbes–If you’ve headed to a store recently, you may have noticed signs requesting exact change. Some stores are claiming there’s a coin shortage because U.S. Mint closures have affected the coin supply right now and they don’t have enough change on hand for customers.
But does this mean that the U.S. is actually running out of coins?
On June 11, the Federal Reserve acknowledged that the COVID-19 pandemic has disrupted the “normal circulation patterns for U.S. coin.”
“In the past few months, coin deposits from depository institutions to the Federal Reserve have declined significantly and the U.S. Mint’s production of coin also decreased due to measures put in place to protect its employees,” the Fed wrote in a statement. “The Federal Reserve is working on several fronts to mitigate the effects of low coin inventories.”
**Thanks Anon in MT
**Thanks VFW Post 1548