Small businesses suffer from a shortage of coins

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The shortage of cash in circulation, which we wrote about earlier, has left many small businesses with no change for customers. This was reported by Bloomberg, citing Charles Bukas, a laundry owner in San Diego, California, who visits several banks every day, asking him to swap cash for the quarter notes he needs to give change to customers.

Since banks now limit the number of coins issued to one hand, in two hours Bukas manages to collect them for about $ 120, and so far his family and friends remain the main source of coins for him. The situation has arisen due to the fact that during the pandemic, many Americans prefer non-cash payment methods, considering them to be safer. As a result, they have accumulated a large amount of unused coins that small and medium-sized businesses lack. Economists note that we are not talking about a liquidity crisis, since the amount of cash in circulation at the moment is about $ 47.8 billion against $ 47.4 billion a year earlier, but a significant part of cash is not mobile enough and does not go to those who need it. …

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