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by late2part
2160 days ago
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It's my opinion that the web page is a non-answer. It's unclear to me from the page how the supply of coins is disrupted by the pandemic. Perhaps it's because the mint is shut down, but they don't say that. If coinage isn't an 'essential' business, that seems odd. |
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"The primary issue with coin is a dramatic deceleration of coin circulation through the supply chain. As of April 2020, the U.S. Treasury estimates that the total value of coin in circulation is $47.8 billion, up from $47.4 billion as of April 2019. While there is adequate coin in the economy, the slowed pace of circulation has meant that sufficient quantities of coin are not readily available where needed. With establishments like retail shops, bank branches, transit authorities and laundromats closed, the typical places where coin enters our society have slowed or even stopped the normal circulation of coin. The coin supply chain includes many participants, from the U.S. Mint who produces new coin, to the Federal Reserve who distributes coin on the U.S. Mint’s behalf, to armored carriers, banks, retailers and consumers, all of whom have a role to play in helping to resolve this issue."
https://frbservices.org/news/communications/063020-federal-r...