- Here’s another byproduct of the coronavirus pandemic that is unfolding right now and that most people may not even know: The United States is experiencing a currency shortage.
- This is due in part to US mint cut production in the midst of the pandemic, but retailers are also grappling with a shortage of money as a result of dramatic disruptions to the normal flow of consumers who buy things and who your money changes hands.
- This is prompting retailers across the country to start posting posters that encourage customers to use the exact exchange rate or ban cash payments entirely.
When I stopped on the way to a donut place near my apartment today, I was greeted by a sign posted on the menu panel outside that I have yet to see anywhere else during the coronavirus pandemic. She explained to customers that the United States, believe it or not, is actually experiencing a shortage of coins right now, and please use the exact change if you are not making an electronic payment with something like Apple Pay. Hope for?
It is true. This is another strange side effect of the ongoing pandemic, and retailers across the country are increasingly presenting this same message to their customers. Part of the reason has to do with the fact that the US Mint cut its coin production as part of a protective measure for its workers, something I bet most people don’t even I consider. But add to that the fact that the normal flow of commerce has been drastically reduced, so that fewer people than ever are buying things in person that require physical money to change hands, and you can start to see why this is so. it starts to be a problem
Brother, can you save a penny? It was a popular song in the United States during the Great Depression, so perhaps it is appropriate that during this depression-level economic catastrophe that we are experiencing right now, once again, we see a shortage of coins.
If you haven’t already, here is a version of the signal I saw that you are likely to find soon too:
In fact, people in the United States seem to have increasingly woken up to this unusual byproduct of the pandemic in recent days. “What about the shortage of coins?” ask a thread from a few days ago on Reddit. “Production is very low,” wrote one commenter on that thread. “The Treasury even issued an emergency mintage of some coins. And many places don’t physically touch cash, they prefer credit cards. So the normal exchange is down too. “
The Michigan-based Meijer supermarket chain has reportedly banned cash payments in its automatic checkout lanes until the coin shortage ends. According to MLive.comThe company will still accept invoices at the cash registers on the pay lines that are attended by employees.
“While we understand that this effort can be frustrating for some customers, it is necessary to manage the impact of the shortage of coins in our stores,” said Meijer spokesman Frank Guglielmi. MLive.
Andy is a reporter in Memphis and also contributes to media like Fast Company and The Guardian. When he’s not writing about technology, he can be found protectively hunched over his burgeoning vinyl collection, as well as guarding his whovianism and binging on a variety of television shows he probably won’t like.
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