National Coin Shortage

National Coin Shortage

Caroline C., Editor

     Recently, you may have noticed signs near the registers (if you’re even going to the store) that ask you to, “pay using debit or credit card or exact change.” Why’s that? Recently, there has been a National Coin Shortage. There are several reasons for this:

     The lockdown has affected the circulation of money most. Due to the lockdown, people have not been leaving their houses to go shopping. The coins are there, in the wallets, but are not being used. As a result of the pandemic, not only are people not going out and putting money into circulation, but the mint factories have slowed their process to keep their staff healthy.

     But the lockdown isn’t the only reason. New ways of paying may have also contributed to the shortage. In this digital era, buying that pair of shoes or that poster you wanted is just a click away! Shopping online is contactless and easy. Additionally, debit and credit cards can be found in almost every American’s wallet. They are basic and can be used with a simple swipe, insert, or scan.

     There is a lot of controversy on this topic. Some believe that this is a way for the government to steer us into only digital or card transactions. They believe that there really is no shortage. But the coins are not disappearing, they are simply remaining unused. The halt in the circulation is the cause for this “shortage.” 

     So next time you are at the store -hopefully you won’t be any time soon- you’ll now have a better idea of why there are such signs at the cashiers, and reasons for them being there.