Here in SW OR, Dh went to the store the other day and was told change is in very short supply and as he was paying in cash they wanted exact amount.
Why on earth would coins be in short supply?
Interestingly, coinage is the only form of currency that is issued by the Treasury and is not based on debt.
“Why on earth would coins be in short supply?”
“Reserve Banks and Federal Reserve coin distribution locations began temporarily allocating coin inventories sent to banks across the nation June 15, the Reserve said in a statement.
The COVID-19 pandemic has significantly disrupted the supply chain and normal circulation patterns for U.S. coin,” the statement said. “In the past few months, coin deposits from depository institutions to the Federal Reserve have declined significantly and the U.S. Mint’s production of coin also decreased due to measures put in place to protect its employees.”
https://www.usatoday.com/story/money/2020/06/20/coronavirus-shortage-coin-supply-pennies-nickels-dimes-quarters/3230828001/
Doesn’t make much sense to me. Yes, businesses slowed down, but I’m having a hard time believing that much cash was being used by people, when a debit card or their phone is so much simpler. I use cash as much as I can, but I’m in the minority now.
My take, with tongue partially in cheek, is that the laundromat and car wash business has slowed down and the cartels are having a harder time laundering their money through these facilities than they used to.
Could also be step 1 in a fake crisis to drive us closer to digital-only transactions.
“Why on earth would coins be in short supply?”
Probably hoarders. The same reason toilet paper disappeared. Rubbing alcohol is still virtually impossible to find.