Coin shortage due to COVID-19 hits Central Texas

AUSTIN (Talk1370.com) -- First the toilet paper, then it was meat... now your neighborhood grocery store and other retailers across Central Texas may have a shortage of coins.

Signs have popped up at retailers across Austin including some H-E-B stores encouraging customers to pay with debit cards, credit cards, and correct change whenever possible.

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What’s going on with the #coinshortage This is Crazy!

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Earlier in June, the Federal Reserve said that COVID-19 had "significantly disrupted the supply chain and normal circulation pattern for U.S. coin." According to the Reserve, coin deposits have dropped significantly and production efforts by the U.S. Mint were also decreased. That prompted officials to begin to allocate available coin supplies, to ensure "a fair and equitable distribution" of coins.

Federal Reserve Chairman Jerome Powell, testifying before a House committee on June 17, said the Fed was addressing the issue. "We are working with the Mint and the Reserve Banks and as the economy re-opens we are starting to see money move around again," Powell said.