During the coronavirus crisis, Americans mostly abandoned cash in favor of credit cards or contactless payments. As a result, there are not enough pennies, nickels, dimes and quarters to get around.
The US Mint, which makes coins, is now asking for help.
“There are enough coins in the economy, but the slowdown means that there are sometimes not enough coins available when needed,” the mint said in a statement.
“We are asking the American public to start spending their coins, depositing them or exchanging them for currency in financial institutions, or bringing them to a coin-buying kiosk.”;
However, it can still be difficult to overcome new habits. Americans are finally accepting contactless and digital payment methods after years of reluctance.
“The pandemic has accelerated many of the digital trends that are already underway, but it is likely to take us five years to five months,” said Greg McBride, chief financial analyst at Bankrate.com.