QUESTION: As I go about my day, I’ve noticed a few “coin shortage” signs in front of registers. Just yesterday I walked into a Taco Restaurant and noticed the same sign which added. if you are going to pay in cash please give us exact change. I quickly put me 20 away. And pulled out my debit card….Then it kind of dawned on me. Is this training us to stop using cash? Am I making more of this than I should? What’s your thoughts on this “coin shortage”
ANSWER: The coin shortage has been caused by the lockdowns. Mining declined and supply chains were shut down. Then there was the problem at the US Mint. The original cause of the 2020 coin shortage was production at the United States Mint slowing down because of the pandemic. Then there was the problem of social distancing which mean people could not work at the US Mint. So the shortage was from both the production and delivery of that production, as well as the inability of the people at the Mint to even work.
Creating the coin shortage was not actually an intended strategy to end physical money. But spreading the rumor that COVID-19 could survive on the surface of paper money was an effort to get retainers to start to refuse to take cash.
When I was checked for COVID-19, I said I did not know anyone with it. They quickly said that didn’t matter I could have gotten COVI-19 from pumping gas into my car. So I said that means masks are irrelevant. They did not respond.