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Local businesses adjust to nationwide coin shortage

Posted at 9:22 PM, Jul 14, 2020
and last updated 2020-07-14 23:30:26-04

NASHVILLE, Tenn. (WTVF) — First, it was toilet paper, then hand sanitizer, and now a coin shortage is the latest way the COVID-19 outbreak has impacted something normally taken for granted.

Now businesses that accept cash payments are making adjustments to conserve coins.

At Gallatin Pike Coin Laundry in East Nashville, only customers can use the change machine inside the business, and that change has to be used to do laundry.

"We are very vigilant with our change machines to make sure the coins aren't going out the door," said Laurie Creech, owner of Gallatin Pike Coin Laundry.

Creech said the goal is to keep as many quarters in the stores as possible. Her bank called and asked her to turn in some quarters, but she declined. She is also encouraging customers to consider another payment method.

"All of our machines take credit cards, debit cards. Google pay and Apple pay," said Creech.

Kroger stores have also come up with ways to manage the situation. Customers paying with cash can also round up to the nearest dollar amount and donate that money to the company's Zero Hunger Zero Waste Foundation. The amount of change owed can also be transferred to a customer loyalty card and used on a future purchase. Customers can also opt to use a credit or debit card.

Signs are posted in stores to alert customers to the changes. Customers using self-checkout lanes can still receive change.

"So far it has worked well," said Melissa Eads, Spokesperson for Kroger. "I don't think it has caught anyone off guard. I think a lot of people have been aware of the situation and weren't surprised when they came in and saw what we are doing."

The Federal Reserve says as businesses closed due to COVID-19, and people stayed home and spent less money, the flow of coins slowed down. The U.S. Mint also cut back on coin production to protect employees during the pandemic.

It is unknown how long the shortage will last, but it could be months.