Nationwide U.S. Coin Shortage
In mid-June 2020, the Federal Reserve announced that shutdowns caused by COVID-19 caused a temporary nationwide shortage of U.S. coins in circulation. As a result, they imposed restrictions on how much coin financial institutions could order. The restrictions were lifted as more businesses began to reopen. However, in May 2021, the Federal Reserve announced another temporary shortage of U.S. coins in circulation, which has reduced the availability of coin to banks and businesses. Now that most businesses are open, the reason for this circulation issue is unclear, and the Federal Reserve is unsure how long the shortage will last. First Fidelity Bank may be limited in its ability to obtain or fulfill some coin orders, as done in the past, until the supply chain is replenished.
How To Help and Stay Informed
- Keep coins needed for your daily business; deposit excess coins into the bank.
- Be aware that coin orders in excess of available coin will not be filled.
- Help spread awareness of the national coin shortage, and encourage the use of coin when making purchases at local businesses.
- Watch the local news and check the internet for additional information or updates.