Coronavirus causes coin shortage

Coronavirus New Mexico

NEW MEXICO (KRQE) – A coin shortage continues to impact businesses across the country including here in New Mexico. Centennial Bank in Taos is asking people to exchange spare change for dollar bills and use correct change or debit cards whenever possible. Last week, Flying Star Cafe in Albuquerque asked customers to do the same. It’s a similar message heard across the country.

“If you have large amounts of coin at home take them to your bank and have them run and then just get the cash, you still have the same amount of money and we have coins to circulate out,” said Alicia Wade at Vallance Bank in Oklahoma City.

Coin circulation slowed dramatically when the coronavirus forced retail stores to shut down. The U.S. Mint also had to cut production of new coins because of staffing changes to keep workers safe but since it has since ramped up to $1.5 billion coins a month.

New Mexico Coronavirus Resource Guide

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