Locals react to local coin shortage
ROCKFORD, Ill. (WIFR) -
“There is a coin shortage. There has got to be a coin shortage," said Jane Zabbe, owner of Charles Street Laundromat.
Local experts say american banks and businesses are getting short-changed because of the lack of cash being used during the pandemic.
“The federal reserve allowed us to order more coin at all institutions, so we maxed out our order there. We let anyone, whether you bank with us or not, bring our coin in," said Joe Larkin, Branch Manager at Northwest Bank.
Larkin says this is one of the lingering effects of the pandemic. More people turned to credit cards and online shopping, causing a slowdown in coins floating through banks and businesses.
“Customers come in and they put $20 in the coin machine, and instead of doing laundry they leave," said Zabbe.
She says acts like this have only started happening a few months ago and thinks it’s due to the coin shortage.
“They are using the quarters for their business or for their laundromat some place else, or I have no idea," said Zabbe.
Larkin says you can help the shortage by taking your coins to the bank or paying with *exact change. Experts ts say things should get back to normal when the economy fully recovers.
“As long as we are in these lock down situations with the pandemic, people aren’t going to be sending cash. It’s shortage is going to last as long as that lasts," said Larkin.
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