CNN: COVID-19 Crisis Driving Coin Shortage in U.S.
‘Some businesses are so strapped for change, they’ve stopped taking cash altogether’
Jul 26, 2020 1:30 AM
By Grabien Staff
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EXCERPT:
FOREMAN: "Here's how it happened. When the pandemic hit, countless businesses shut their doors, including some that get a lot of coins from customers. That stopped the flow to banks, so they could not restock the change drawers. And when the banks turned to the mints, well, the mints had cut back production, too. So the problem was compounded, especially for businesses that deal in a great deal of cash and the roughly 25 percent of Americans who use cash much more than debit or credit cards. The Retail Industry Leaders Association calls it a perfect storm."
