What do you do with your coins? Are they on top of your dresser?
- There isn't a coin shortage problem, there is a coin circulation problem.
- During the pandemic people stopped spending case (for obvious reasons) and turned to electronic spending like Apple Pay etc...and this is affecting businesses.
The Federal Reserve says -“There is currently an adequate overall amount of coins in the economy,”
- Small businesses are hit hard by the coin shortage because they may have to turn away paying customers if they cannot make change.
- It also hurts the most economically vulnerable consumers, many of whom operate in a largely cash economy.
HOW CAN YOU HELP
- Spend the coin
- Use exact change
- Take them to your bank
- Bring to coin shortage machine
Photo Credit: Getty Images