Due to the coronavirus crisis, Americans have largely abandoned cash in favor of credit cards or contactless payments. As a result, there are not enough cents, nickel, diamonds and quarters to get around.
Now the U.S. Mint, which produces coins, is asking for help.
“There are enough coins in the economy, but the slow pace of circulation has meant that the required number of coins is sometimes not enough when needed,” the mint says.
“We are asking the American public to start issuing their coins, putting them into circulation or exchanging currency in financial institutions, or take them to a coin redemption kiosk.
However, it can be difficult to break new habits. After many years of reluctance, Americans are finally using contactless and digital payment methods.
“The pandemic has accelerated many of the digital trends already underway, but it has probably pushed us forward five years in five months,”; said Greg McBride, chief financial analyst at Bankrate.com.