Posted on Jun 18, 2020
Lt Col Charlie Brown
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US banks and businesses are running out of coins
If we had a nickel for every nickel that U.S. banks have...we wouldn't have very many nickels.

Testifying before a congressional committee about monetary policy yesterday, Fed Chair Jerome Powell brought up an interesting piece of news: U.S. banks are facing a coin shortage.

Penny for your thoughts, Jerome?
“The flow of coins through the economy has kind of stopped,” Powell said.

With retail stores across the country closed, there just aren't very many places for consumers to exchange physical money.
Exacerbating the shortage, the U.S. Mint decreased coin production to help keep its employees safe from the virus.
Powell assured the committee that he’s aware of the issue and it’s being addressed. “We all don’t want to wake up to headlines in the near future such as ‘Banks run out of money,’” he said.
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Responses: 4
Lt Col John (Jack) Christensen
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Oh no, how can I get a cart at Aldi??
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PO3 Lynn Spalding
PO3 Lynn Spalding
4 y
I wonder if a slug would work.
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Lt Col John (Jack) Christensen
Lt Col John (Jack) Christensen
4 y
PO3 Lynn Spalding I don't know, wouldn't take a Canadian quarter once for me so probably not.
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PO3 Lynn Spalding
PO3 Lynn Spalding
4 y
Lt Col John (Jack) Christensen I guess we'll have to figure something else out. LOL
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Lt Col John (Jack) Christensen
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And with many places not accepting any cash payments things will only get worse.
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