According to reports, there continues to be a coin shortage. In areas of the country where the people primarily use cash, retailers tell news outlets that they are receiving fractions of their orders from the banks. The banks are countering that they are not receiving their complete orders from the Federal Reserve.
The Federal Reserve Banks have not commented on the problem, but the U.S. Coin Task Force continues their Get Coins Moving promotion. When speaking on background, sources say that there are coins in the Fed’s cash rooms but that the amount they keep in reserve for emergencies is lower than usual. Some report that there is an overabundance of dollar coins if someone wants them.
While other areas of the country are experiencing coin shortages, the D.C. area does not seem to have problems. The only advertising for the Get Coins Moving program is on national telecasts. Very few businesses have signs asking for customers to spend their coins.
To see what I can find in change, I have been paying with cash for local transactions. When traveling away from home, I will use cash to test the diversity of the change I receive. While doing this in the last three months, there is a lack of diversity in the change I receive.
Even though the U.S. Mint produced more coins than it had in its history in 2020, the change I receive is full of 2019 coins and older 50 State Quarters. Over the weekend, my change had six Ohio state quarters complete with the hanging astronaut.
We are getting close to the end of July, and I have not seen a 2021 coin, including the Washington Crossing the Delaware quarter.
There is money out there. People have to spend it for it to circulate. Please spend your pocket change so I can find something interesting.
And now the news…