A look at the coin shortage in the Twin Tiers

Local News

When the coronavirus hit back in March, many companies temporary closed to ensure safety, including the United States Mint. This lead to a coin shortage that swept across the country. The normal circulation of coins through the economy was disrupted, making them harder to come by. A business that was quickly impacted were laundromats . Today 18 News checked in with one local laundromat to see how they are fairing amid this shortage.

“I am not really having a problem, other than I have people come in a get coins and take them somewhere else and use them because maybe the laundromat or maybe the car wash that they’ve gone to, maybe they don’t have any coins. Maybe they’ve run out. But, I have been pretty good about holding onto the coins that I do have,” said manager of Wash It Laundromat Tom Lefzyk.

To offset the shortage since mid June the United States Mint has been operating in full force producing upwards of one and half billion coins per month. This is up from an average one billion per month in 2019. The result being the Federal Reserve has begun to ease coin allocation limits to banks across the country.

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