National coin shortage another side effect of COVID-19

The U.S. mint, who makes the coins, said because of the stay at home orders and social distancing, they reduced staff in their offices to keep workers safe.

Posted: Jul 7, 2020 10:58 PM
Updated: Jul 8, 2020 11:21 AM

EUGENE, Ore.-- A national coin shortage is changing the way businesses and consumers conduct transactions.

According to the Federal Reserve, the United States is seeing a coin shortage because of the pandemic. Officials from the Federal Reserve announced on June 15 they will limit the number of coins given to banks as a way to make sure everyone gets their fair share.

The U.S. mint, which makes the coins, said because of the stay at home orders and social distancing, they reduced staff in their offices to keep workers safe. As a result coin production dropped dramatically. Also, officials from the Federal Reserve said because of the economic shutdown, many businesses stopped depositing coins into banks, adding to the depletion in supply.

In the Eugene-Springfield area, some businesses are already asking customers who pay in cash to do so as close to the exact amount as possible. Smart Foodservice Warehouse Stores have signs asking customers to do just that. Signs at registers in Lowe's on West 11th Avenue in Eugene are also asking customers to be mindful of the coin shortage.

Jackson's Food Store is being creative. Employees are asking customers if they want to round their total up to the nearest dollar and that change will be donated to a local Boys and Girls Club.

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