Banks Are Buying Spare Change Due To National Coin Shortage!


The Federal Reserve is working to reverse a national "coin shortage" during the COVID-19 pandemic.

If you've been to Walmart or CVS, you may have noticed that checkout lanes are designated as debit or credit only. The U.S. is currently experiencing a coin shortage due to the pandemic. Due to social distancing and safety measures, his caused employees to slow production on new money and people have been spending less physical cash over the last few months.

In a public statement, Jerome Powell who is the chairman of the Federal Reserve stated "The flow of coin through the economy… it's kind of stopped." Now, there's a strong chance you'll come across someone that asks you to pay with cards or exact change until the shortage is fixed over the next few months.

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