Letter: Sell your coins to businesses - from toilet paper shortage to coin shortage
Submitted by Anonymous on Sun, 07/19/2020 - 5:44pm
The U.S. Federal Reserve has limited the distribution of coin currency due to the Covid-19 Virus.
"Business and bank closures associated with the COVID-19 pandemic have significantly disrupted the supply chain and normal circulation patterns for U.S. coins. While there is an adequate overall amount of coins in the economy, the slowed pace of circulation has reduced available inventories in some areas of the country," says the Federal Reserve (read more here).
Some of our local businesses have stopped accepting cash payments unless it is exact change because of this shortage.
I am calling all of my fellow locals here in this wonderful and caring City of South Lake Tahoe to crack open their piggy banks, gather all the coins they are saving, wrap them, and sell them to our local businesses. They would be more than happy to buy your coin currency for their stores and it would save the 10 percent cost of turning your extra change in to paper money.
On the humorous side of these difficult times - we went from a shortage of toilet paper to a shortage of coins.
- Julie Garrett-Wright