Coins: The latest pandemic shortage
The virus has disrupted the supply chain
(CNN) – If there's a little less jingle in your pocket, there's a reason for that.
The Federal Reserve says there's a coin shortage.
You may have seen signs at stores that ask you to use correct change or pay electronically.
The pandemic gets the blame.
It’s significantly disrupted the supply chain and the way our coins are circulated.
Coin deposits from financial institutions to the Fed have declined significantly in the past few months.
The U.S. mint says its production of coins has also decreased due to measures put in place to protect its employees from the coronavirus.
With Federal Reserve coin orders starting to increase as regions reopen, the coin inventory is below its normal levels.
Officials at the Fed say they're working to lessen the effects of the shortage, to minimize supply constraints and maximize production.
The agency is managing how it distributes the coins it does have and is encouraging institutions to only order enough coins to meet consumer demand.
Federal Reserve officials say they’re confident the coin shortage will sort itself out once more of the economy opens and coins go back to being circulated as usual.
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