SIOUX CITY, Iowa (KCAU) – A new shortage is growing in the U.S. because of COVID-19, a shortage of coins.
From meat to toilet paper, the nation and Siouxland have had many shortages because of COVID-19. Now, the coin shortage is leaving some short-changed.
“Well, I keep hearing there is a nationwide coin shortage but my situation here is [that] I recycle my own quarters, so I always have enough,” said John Glaza, owner of Pierce Street Laundry.
Glaza said since he recycles his quarters, he has no risk of running out. In fact, he mentions that he has too many.
“I do have probably about 40 pounds worth of mixed change that I can not take to the bank right now because they don’t take it through the drive up and the lobbies aren’t open yet, so I think that is a lot of what’s going on. I have probably another 50 or 60 pounds of coins home too that should go to the bank, but they are sitting there waiting for the lobbies to open up,” said Glaza.
Jordan Suehl, a retail operations officer for BankFirst, said the closure of many businesses led to the shortage of coins.
“How we get some of our coins is from the retail side of the business. So when the pandemic happened, the amount of coins coming in has really decreased, which then we recycle it and send it back to the federal reserve, which they then roll it for us and then bring it back. So when everything closed down, that is when we really started to see the coin shortage,” said Suehl.
She said that BankFirst is currently still giving out coins to customers that ask.
“Typically, we keep a good stockpile of coins, so we haven’t seen any effects right now. They really limited the amount of coin we can order, so going forward it may affect us but we have tried to serve our customers. We have started rolling our own coin here again and just try to get that coin to everybody who needs it,” said Suehl.
“If they want to just get quarters from us, it’s a $5 limit. When they want to go someplace else with them because we just can’t afford to keep going to the bank and bringing quarters,” said Glaza.
If you have a large collection of coins at home, BankFirst does recommend bringing that money in to help coins continue to circulate in Siouxland.
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