This article is provided by Credit Union National Association (CUNA), World Council's direct member in the United States.
The COVID-19 pandemic has led to the disruption of supply channels of circulating coinage, the U.S. Mint said in a recent statement. The agency urges consumers to pay for things with exact change and return spare share into circulation.
“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. Until coin circulation patterns return to normal, it may be more difficult for retailers and small businesses to accept cash payments. For millions of Americans, cash is the only form of payment and cash transactions rely on coins to make change. We ask that the American public start spending their coins, depositing them, or exchanging them for currency at financial institutions or taking them to a coin redemption kiosk. The coin supply problem can be solved with each of us doing our part,” the statement reads.
The Mint also calls on consumers to follow all safety and health guidelines when visiting retailers, grocery stores, small businesses and financial institutions.
CUNA is a member of the U.S. Coin Task Force, a group of industry leaders working together to identify, implement and promote actions to reduce the consequence and duration of COVID-19 related disruptions to normal coin circulation.