FACT: There is a coin shortage in the U.S. because of the coronavirus crisis. Nationwide, there are fewer coins being spent as lots of businesses remain closed under lockdown restrictions so people have been spending less money since the coronavirus crisis began, which means spending fewer coins.
Meanwhile, the U.S. Mint’s production has slowed because fewer employees are working as part of ongoing social distancing measures
U.S. Federal Reserve Chair Jerome Powell said on June 17: “What’s happened is that with the partial closure of the economy, the flow of coins through the economy has… kind of stopped. Stores have been closed. So the whole system of flow has kind of come to a stop. We’re well aware of this.”
