The United States Mint continues to ask the public for its help in getting coins moving – through the use of exact change when making purchases or by turning them in for cash at coin-recycling kiosks.
You also may be able to redeem coins for cash at financial institutions, but first contact local branches about their coin redemption policies, as they may vary, according to a recent news release from the Mint.
The Mint is making this request because coins are not circulating through the economy as quickly as they were prior to the COVID-19 pandemic. Cash transactions have decreased significantly since 2019, as more and more individuals have turned to performing their transactions electronically, which means that sometimes coins are not readily available where they are most needed.
“This is not a coin supply problem,” the Mint stressed. “It is a circulation problem. There are many people who rely exclusively on cash and currency to pay for goods and services. There are also many businesses that rely on cash and currency for their day-to-day operations. These people and businesses feel a significant impact from the unavailability of coins.”
Since the coin circulation problem first emerged in 2020, the Mint has asked for the public’s help in solving this problem, through communications from the Mint and as a member of the U.S. Coin Task Force. The Mint has issued press releases, distributed public service announcements, conducted social media campaigns and amplified its content via the U.S. Coin Task Force website.
