The coronavirus has presented us with many tragedies and inconveniences, big and small this year, and among the latest is one that most of us probably wouldn’t have predicted a few months ago – a shortage of parts at national scale.
The reduction in retail sales this year has slowed the pace of coin circulation as adequate quantities are no longer available in some areas, leading companies to request or require customers to pay for their purchases with cards or exact change. But the US Mint says in a recent statement that the parts shortage is part of this pandemic that we can solve, if everyone does their part:
You can do this by paying for things with exact change and putting the spare change back into circulation. Until coin circulation patterns return to normal, it may be more difficult for retailers and small businesses to accept cash payments. For millions of Americans, cash is the only form of payment, and cash transactions depend on coins to effect change. We are asking the American public to start spending their coins, depositing or exchanging them for currency at financial institutions or bringing them to a coin redemption kiosk.
Do you know who has a lot of change ying around? Kids. Filling the piggy bank is a centuries-old childhood tradition that can now be put to good use. And exchanging those coins is something tangible that kids can do to help their communities at a time when it seems like everything is out of their (and our) control.
So how should they get their coins back into circulation? Good, they You may want to go to the nearest vending machine and buy a lifetime supply of gumballs, rubber bouncing balls, and food-shaped gums, but you can point them in another direction.
They could just exchange the coins in the bank for paper money –some banks pay people a little more for their pieces right now. Or they could have more fun with it, for example, by heading to the local ice cream parlor and buying themselves a treat with all of the change. Or they could trade it in to their parents for new Minecraft or Robux skins (and then you bring it to the bank for exchange).
Do you know what’s so fun? Those coin counting machines that you often see in front of grocery stores. (You can find a Coinstar kiosk here.) Or, if your kids really want to make a difference right now, they can donate their change by filling out one of those charitable donation boxes that you often see at retail or restaurant checkout lines. quick. Many local nonprofits would probably also be happy to receive a coin donation right now.
How they choose to spend their reserve will help get more coins back into circulation so that a small slice of life can return to normal.
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