The United States Mint, the government office that produces the United States coins, urges Americans to spend the accumulated coins in their homes to increase the flow of pennies, dime, dime and currencies throughout the economy.
The request comes after the Federal Reserve said last month that the coronavirus pandemic had disrupted the coin supply chain, as well as the normal circulation patterns of US coins, causing a metal shortage in the system.
While the Mint said there is an “adequate amount of currency in the economy,” retailers don’t always have the coins they need on hand to make the change. And so he’s asking Americans to start “paying for things with the exact change and putting the spare change back into circulation,” according to a statement Thursday.
“We ask that the American public begin to spend their coins, deposit them, exchange them for currency at financial institutions, or take them to a currency exchange kiosk. The problem of the supply of coins can be solved with each of us doing our part,” the office said. additional.
The Mint noted that it had reduced the number of employees working on its coin production lines at the same time to improve social distancing during the pandemic, causing a slowdown in the manufacturing process. At the same time, currencies are piling up in American households as more people stay in their homes, use contactless payment methods such as credit and debit cards, and have fewer opportunities to implement their pocket or wallet change. .
National retail chains, including Wawa, with 850 convenience stores, have asked customers to use the exact change, or pay with a credit or debit card or a mobile application, citing the national shortage of coins.
The Mint has been operating at full production capacity since mid-June, and has even increased production. It is now on track to produce 1.65 billion coins per month for the remainder of the year, up from an average of 1 billion per month in 2019.
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