Against the background of the coronavirus crisis, Americans have largely given up money in favor of credit cards or contactless payments. As a result, there are not enough pennies, nickels, no pennies, no quarters.
Now the US Mint, which produces coins, is asking for help.
“There are enough coins in the economy, but the slow pace of circulation means that enough coins are sometimes not available where needed,” the Mint said in a statement.
“We are asking the American public to start spending their coins, depositing them or exchanging them for currency at financial institutions, or taking them to a coin redemption kiosk.”;
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Yet new habits can be difficult to break. Americans are finally using contactless and digital payment methods after years of reluctance.
“The pandemic has accelerated many of the digital trends that have been going on, but it probably pushed us to five years in five months,” said Greg McBride, chief financial analyst at Bankrate.com.
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