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First it was toilet paper and face masks, then it was meat. The latest shortage caused by the coronavirus pandemic? Pocket change. Retailers are grappling with a nationwide shortfall of coins that’s left them posting signs at some checkout lines alerting customers to use credit or debit cards -- or pay with exact change, if possible.
“The Federal Reserve is experiencing a significant coin shortage across the U.S., resulting from fewer coins being exchanged and spent during the Covid-19 pandemic,” Cincinnati-based supermarket chain Kroger said in an emailed statement. “Like many retailers and businesses, we are adjusting to the temporary shortage in several ways while still accepting cash.” The coin shortage could amount to a small win for card companies Visa Inc. and Mastercard Inc., which were already benefiting from consumers avoiding cash over virus-transmission fears.
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