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Coin Shortage

U.S. Mint Ups Coin Production to Circumvent Shortage

  by


   [71]Katharina Buchholz,


  Jul 6, 2020
  Global currencies

  [72]According to the New York Times, the U.S. Mint is upping its coin
  production after shortages of coins have been reported in the U.S. as a
  result of the coronavirus pandemic.

  On June 15, [73]the Federal Reserve had first implemented quotas for
  distribution locations to further protect its coin inventories, which
  were running low. As a result, banks and other distributors of coins
  received less than what they ordered or even less than their usual
  allotments, according to the Times. Especially businesses are routinely
  turning to banks in order to receive coins and other tender to fill up
  their registers.

  Chair of the Fed, Jerome Powell, said that closures of parts of the
  economy due to COVID-19 were responsible for disrupting the normal flow
  of coins through the system.

  [74]According to numbers by the U.S. Mint, coin production for
  circulation has actually decreased during the last couple of years and
  because of COVID-19 restrictions for Mint workers, has had some
  particularly slow months in the first half of 2020. In the second half
  of 2020, the Mint expects production increases to 1.2 billion coins in
  June and 1.35 billion coins per month for the rest of the year– which
  would add up to a projected total of 14.2 billion coins produced in
  2020.

  Members of the public who want to deposit coins into their banks to aid
  circulation can do so. They can also aid businesses and those who
  cannot operate without coins by paying electronically whenever
  possible.
  Katharina Buchholz
  Katharina Buchholz
  Data Journalist
  [75][email protected]

  Infographic: U.S. Mint Ups Coin Production to Circumvent Shortage |
  Statista

Description

  This chart shows the U.S. Mint's annual coin production for circulation
  from 2016-2020 (projected).

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165. https://www.statista.com/outlook/industry-outlook
166. https://www.statista.com/publication-finder
167. https://www.statista.com/search/?companies=1&sortMethod=revenueDesc&accuracy=or
168. https://www.statista.com/business-plan-export
169. https://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fwww.statista.com%2Fchart%2F22203%2Fus-mint-coin-production-for-circulation%2F
170. https://twitter.com/intent/tweet?text=U.S.%20Mint%20Ups%20Coin%20Production%20to%20Circumvent%20Shortage&url=https%3A%2F%2Fwww.statista.com%2Fchart%2F22203%2Fus-mint-coin-production-for-circulation%2F
171. http://www.linkedin.com/shareArticle?url=https%3A%2F%2Fwww.statista.com%2Fchart%2F22203%2Fus-mint-coin-production-for-circulation%2F
172. https://www.statista.com/statistics/954593/value-fdi-inflows-united-states/
173. https://www.statista.com/statistics/954653/number-announced-greenfield-fdi-projects-united-states/
174. https://www.statista.com/statistics/184691/internet-usage-in-the-us-by-state/
175. https://www.statista.com/statistics/810841/ratio-of-military-expenditure-to-gross-domestic-product-gdp-united-states/
176. https://www.statista.com/statistics/813152/youth-unemployment-rate-in-the-united-states/
177. https://www.statista.com/statistics/935675/export-of-goods-from-the-united-states/
178. https://www.statista.com/chart/22200/cities-with-most-unicorn-companies/
179. https://www.statista.com/chart/22184/change-in-podcast-listeners-audience-project/
180. https://www.statista.com/chart/22179/estimated-share-of-employees-in-the-us-able-to-telework/
181. https://www.statista.com/chart/22172/legislation-on-police-reform-by-state/
182. https://www.statista.com/chart/22153/coronavirus-interest-falling/
183. https://www.statista.com/chart/22151/new-irs-audits-fall/
184. https://www.statista.com/chart/22147/employment-population-ratio-in-the-us/
185. https://www.statista.com/chart/22138/media-source-and-protests/
186. https://www.statista.com/chart/22137/college-students-tuition-discount-covid/
187. https://www.statista.com/chart/22136/levels-of-trust-in-business-by-country/
188. https://www.statista.com/chart/22123/number-of-us-overseas-adoptees-by-country/
189. https://www.statista.com/chart/22120/international-freight-loaded-and-unloaded-at-airports/