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National Coin Shortage????

Sam06
I was at Food Lion getting some ribs to smoke and there are signs up that "Due to the national coin shortage please try to give correct change".

This is the 1st I have heard of this.  I looked it up and I guess it is true.

Weird

This is from USA today whom I hope is an approved news source.


C&P

As restaurants, grocery stores and other businesses around the country have posted signs near cash registers and on drive-thru windows requesting people to pay with credit cards or exact change, several widely shared Facebook posts have commented on the nation's recent coin shortage. 

Some of the posts include a sign from a Texas-based grocery store chain H-E-B asking shoppers to use a debit card, credit card or correct change, if possible, due to the shortage. 

The posts then warn against the potential of the U.S. becoming a "cashless society."

Focusing in solely on the claim that the nation is experiencing a nationwide coin shortage — that's true. 


Why is the U.S. facing a coin shortage? 

As the spreading coronavirus and resulting business closures crippled economic activity in the United States, the circulation of coins dropped off significantly. The U.S. Mint, which manufactures the nation's coin supply, also decreased staffing in response to the pandemic. 

As the nation's businesses have reopened, demand for coins has exceeded the available supply. 

Federal Reserve chairman Jerome Powell told the House Financial Services Committee on June 17 that the coin shortage has resulted from the partial closure of the economy. 

“With the partial closure of the economy, the flow of funds through the economy has stopped,” he said. “We are working with the Mint and the Reserve Banks, and as the economy re-opens, we are starting to see money move around again.”




I have not heard of this but then I am not on facebook.

Anyone else seen these signs?






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Comments

33 comments

Date Votes
  • Aztngundoc22
    OK : 
    SCAM !!!!!!!
    Thanks !!!
    3
  • Sam06
    Went to McDonalds to get a large fry and a sweet tea yesterday.  They had no coins to make change(they said).  I had change in the car so I paid with ALL coins.
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  • DPHMIN
    I was at a self checkout in a Walmart this week.  I purchased a few items and added $100.00 to a Walmart gas card.  I used a credit card to pay.  When I payed, a brief message flashed on the screen.  I couldn't read it, but afterwards neither my credit card nor the Walmart card would work.  I got the Walmart card unlocked, and need to call the credit card company.

    I've had too many problems using cards (especially overseas) that I don't trust them.   Give me old fashioned cash.  It will work where cards won't!
    0

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