x
Breaking News
More () »

Businesses claim there is national coin shortage. Here's what's actually happening

Businesses claim there is a 'national coin shortage.' Our research shows its a circulation issue.

WASHINGTON — We keep hearing about shortages across the country, but what about a shortage of coins?

Businesses around the DMV claim change is in short supply.

Have you been to the store and seen a sign that claims there is a national coin shortage?

In response, they ask for either exact change or contactless payment.

According to our research and experts, there isn’t a shortage of coins. There are more than enough coins in the United States. There is a shortage of coins in circulation.

QUESTION:

Is there a national coin shortage for businesses?

OUR SOURCES:

ANSWER:

This is true.

Yes, there is a shortage of coins in circulation, but there is not a shortage of coins in general.

WHAT WE FOUND:

There is not an actual shortage of coins in the United States. According to the Federal Reserve, the U.S. treasury increased the production of coins in 2020 by 20% to mint more than 14.8 billion coins.

So where did they go? Apparently, back home with you.

The American Bankers Association sent us this statement:

“The problem is COVID-19 has changed how coins are being used, causing a slowdown in coin circulation. Fewer consumers are using the change they receive in cash transactions to make other purchases. Instead of going back into circulation, the coins are piling up in piggy banks.”

Their solution?

It comes down to you. Check your pockets, search the sofas, or go through that change drawer. Find America’s change and get it back into circulation at your local business or bank.

We can VERIFY: Yes, there is a shortage of coins in circulation for businesses. However, there is not a shortage of coins in general.

The federal government isn’t just asking people to turn in their change. It started the U.S. Coin Task Force last year to deal with these coin supply disruptions. The task force believes this is just another hiccup as the economy starts to get back to normal.

WUSA9 is now on Roku and Amazon Fire TVs. Download the apps today f

or live newscasts and video on demand.

Download the WUSA9 app to get breaking news, weather and important stories at your fingertips.

Sign up for the Get Up DC newsletter: Your forecast. Your commute. Your news.
Sign up for the Capitol Breach email newsletter, delivering the latest breaking news and a roundup of the investigation into the Capitol Riots on January 6, 2021.