COVID coins a new shortage - Must Read Alaska
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Tuesday, December 1, 2020
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COVID coins a new shortage

PENNIES, NICKLES, DIMES, AND QUARTERS

Banks and stores in Alaska are starting to feel a coin crunch that has been brought about by the COVID-19 coronavirus pandemic.

At the Wells Fargo Bank’s Kenai branch, the sign on the door indicates that no rolls of coins will be given from the location to consumers, and the rolls will be limited to one per denomination for businesses.

And on a pharmacy store counter in Anchorage, a small notice asks customers to pay with coins if they have them “due to the national change shortage.”

According to the Federal Reserve, the pandemic has disrupted the supply chain and circulation patterns for America’s coin money. While the U.S. Mint slowed production in order to protect workers from infecting each other, banks have had their lobbies closed for a long time, preventing people from bringing in their coin supplies.

The Federal Reserve is capping coin orders.

“Stores have been closed. The whole system of flow had come to a stop,” Federal Reserve Chairman Jerome Powell told the House Financial Services Committee.

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Suzanne Downing had careers in business and journalism before serving as the Director of Faith and Community-based Initiatives for Florida Gov. Jeb Bush and returning to Alaska to serve as speechwriter for Gov. Sean Parnell. Born on the Oregon coast, she moved to Alaska in 1969.

Latest comments

  • Ha, ha, ha, ha… the law of unintended consequences.

  • Just one step closer to a cashless society, where the bankers make a profit EVERY time you swipe a card.

    One step closer to ban what you can buy with a card, such as weapons and ammo to shoot them with.

  • I’m confused.

    Where has the currency that was used before Covid disappeared to?

    • Really big couches.

  • that sure seems like what’s coming, doesn’t it? I’ve read agenda 21, thought it someone’s wacky notes, but I’m not sure anymore…

  • What do I hear for a $10 roll of quarters? 12 bucks?

    Supply/demand.

  • Coins are the new toilet paper?

  • What can anyone buy without breaking a 20 these days? Watch for businesses – and tax collectors – to round up to the nearest 20. Round down? Don’t make me laugh!

  • Hey Suzanne I was looking at the videos on MRAK and the one of the Dr’s and Neuro surgeons video about when it’s appropriate to wear a mask was removed ironically… They just don’t like the truth even when it comes from the very Physicans that are out there… Craziness

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