People's Bank asks customers to bring in change to help fight national coin shortage

While most businesses are open again, merchants and customers are dealing with a shortage that took most of the U.S. by surprise - coins.

News 12 Staff

Jul 23, 2020, 12:18 AM

Updated 1,424 days ago

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While most businesses are open again, merchants and customers are dealing with a shortage that took most of the U.S. by surprise - coins.
The Main Street Laundromat in Norwalk says it goes through a lot of quarters, but the owner says they may run out by Thursday.
"I went to the bank, I asked for 300 quarters; they told me they only had $6 of quarters only," said owner Brianna Chen. "I need the quarters for the machine."
Laundromats are not the only place feeling the crunch. People's Bank says it's becoming a crisis for many small businesses due to fewer coins being used during the pandemic.
The bank is asking customers to bring in their loose change and is waiving fees for non-customers to do the same.
At a Yankee Peddler and Loan, Alex Delucia says gold and silver coins are going fast.

"We basically have sold out of all large bullion coins," he said.
The federal reserve pledges more coins are coming. The U.S. Department of the Treasury says a reduction in staff at the U.S. Mint prompted by COVID-19 is also to blame.
There are currently no state or federal laws requiring merchants to accept cash for purchases. But if they do accept cash, they must give back the right amount of change.
 


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