There really is no shortage of parts, honestly!


Long before the current supply chain shortages and current concerns about the availability of toilet paper products, including toilet paper, there was the coin shortage. The toilet paper shortage was the Real McCoy – just ask anyone who ran out of it last year. Fears of another toilet paper shortage have led some chains to impose purchase limits on products.

Barry Richard / Townsquare Media

Is there really a shortage of parts in the United States? The answer is yes and no. Many stores, banks, restaurants, and other places that use currency will say there is a shortage, or at least coins are scarce, but there really is no “coin shortage.”

Barry Richard / Townsquare Media

C / NET Money reports that there are a lot of coins in circulation: “The Fed said it was producing enough of it, minting 14.8 billion pennies, dimes, dimes, 50-cent coins and dollar coins in 2020, an increase of 24% from the 11.9 billion coins produced in 2019. “

So where are they? You and I have them.

Barry Richard / Townsquare Media

The pandemic has changed the way we spend our money. According to the Fed, we conserved our cash and used credit cards during the pandemic. As a result, we held onto our bills and coins rather than spending them. The coins are in domestic piggy banks, rolled up and stored under the sink, in the cup holders of our vehicles and even under the sofa cushions.

Barry Richard / Townsquare Media

The truth is, there is no shortage of coins, but there are plenty of coin hoarders. Intentionally or not, we have created this perception of coin shortage and can end it quickly by cashing all of our coins into the bank. If only avoiding a toilet paper shortage were that easy.

Barry Richard is the host of the Barry Richard Show at 1420 WBSM New Bedford. It can be heard on weekdays from noon to 3 p.m. Contact him at [email protected] and follow him on Twitter @ BarryJRichard58. The opinions expressed in this commentary are solely those of the author.

WATCH: Here are 25 ways to start saving money today

These tips for saving money, whether it’s finding discounts or just changing your day-to-day habits, can come in handy whether you have a specific savings goal or want to save money. money set aside for retirement or just want to withdraw a few cents. It’s never too late to be more financially savvy. Read on to find out more about how you can start saving right now. [From: 25 ways you could be saving money today]

KEEP READING: Discover The Richest Person In Each State

Previous Tesla added to Uber London plan to boost electric car adoption
Next Used Car Dealers See Volume Rise Rapidly As Chip Crunch Persists

No Comment

Leave a reply

Your email address will not be published. Required fields are marked *