Do You Have Any Change, Please?
Normally, when someone asks me for change, it's the homeless when I'm in downtown Grand Rapids, but lately its been gas stations and drive-thrus.
Having a change shortage during a pandemic is very puzzling to me since most people use debit cards and change is heavy when you have a lot of it so its not optimum to carry around.
When emergency events hit, there are lots of people who take their money out of the bank and keep the cash at home, but I highly doubt they want it all in change.
So why is there a change shortage?
According to WOOD, the Federal Reserve announced in June that the supply system for coins had been severely disrupted by the pandemic. Another problem is, a lot of businesses are closed and people are not shopping like they once were so coins are just not circulating like they normally would under normal circumstances.
I don't how many drive thrus I have gone through that are only taking debit or credit cards and only accept exact change in order to rebuild their supply.
I have been to a few gas stations where clerks have asked if I have any change I would like to sell which is really odd to me.
I'm not sure how the coin game is run but I'm really puzzled by it being severely disrupted. You would think that the handling or transporting of money would be essential.
Well, if you are sitting on a pile of change, the government's brain child is for you to take it to the bank and exchange it for paper cash. The coin supply should get back to normal once all businesses reopen and should work itself out at that point.
If you are packing a large stash of coins, you might be able to get some free stuff or discounts is you shop around to find out what stores are looking to freshen their supply of coins.
My guess is laundromats, who rely on coins to operate, are in dire need for coins for their machines to serve the public.
Some businesses have gone on social media asking people to bring in their change.
With all the things the country is in need of right now, I sure never predicted there being a coin shortage during a pandemic. I wonder if my jar of change at home is worth more that what is really in it? Probably not.
I wonder if the government has reached out to the tooth fairy for any coin assistance? Lol.