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I suppose that explains why people wouldn't want to accept payment in cash, but that doesn't necessarily explain why there'd be a coin shortage.
by Robotbeat 5y ago
I suppose that explains why people wouldn't want to accept payment in cash, but that doesn't necessarily explain why there'd be a coin shortage.
- mikewarot 5y agoI think this explains it fairly well https://www.usmint.gov/news/press-releases/statement-on-circulating-coins https://www.usmint.gov/news/press-releases/statement-on-circ... "In normal circumstances, retail transactions and coin recyclers return a significant amount of coins to circulation on a daily basis. However, precautions taken to slow the spread of the virus have resulted in reduced retail sales activity and significantly decreased deposits from third-party coin processors, resulting in increased orders for newly minted coins produced by the United States Mint (Mint). Third-party coin processors and retail activity account for the majority of coins put into circulation each year. For example, in 2019, the Mint contributed 17% of newly-minted circulating coins paid into the supply chain, with the remainder coming from third-party coin processors and retail activity. Simply put, there is an adequate amount of coins in the economy, but the slowed pace of circulation has meant that sufficient quantities of coins are sometimes not readily available where needed. You may be experiencing this in your local communities. We are asking for your help in improving this coin supply issue."