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.

Categories: Business, Chattanooga, Featured, Local News, US & World News

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