Is there a coin shortage?
CHATTANOOGA (WDEF) – Nickels, Dimes, quarters and pennies are the latest items in short supply as a result of the coronavirus pandemic.
Officials say when businesses began shutting down in March, the flow of coins through the economy nearly came to a halt.
With consumers spending less, officials say the U-S mint slowed their production of coins.
Officials explain the short supply by saying it’s not so much of a coin shortage as it is a major disruption in the supply and demand chain.
State officials say they haven’t seen much of an impact here in Tennessee.
“When there was a reopening there was a demand surge for coinage. It’s a supply and demand issue. Really what has happened is not so much of a coin shortage as there is an impact to circulation.”
The Tennessee Department of Financial Institutions says a national coin task force has been organized to further discuss and analyze the coin shortage.