Report: Nationwide coin shortage due to COVID-19 shutdowns

National

(CNN) – The economic shutdown prompted by the coronavirus has had not just a financial impact but an impact on American currency itself.

Specifically, we’re seeing a shortage of coins: quarters, dimes, nickels and pennies.

The reason? Businesses were closed and people were largely staying in, halting the flow of change through the market place.

Word of the shortage came from the Federal Reserve Chair Jerome Powell.

The Washington Post reports that Powell told Congress Wednesday that the flow of coins through the economy “kind of stopped.”

Powell described it as a temporary issue and said officials have been coordinating with the US Mint to fix the problem.

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