Local businesses impacted by coin shortage

By JEFF STITT
jstitt@yourmvi.com

Toilet paper hasn’t been the only thing Americans have seen a shortage of during the coronavirus pandemic.
Across the country, including here in the Mon Valley, consumers have been using social media to share photos of coin shortage signs at stores, gas stations and laundromats. At many businesses, customers are encouraged to either use exact change or to pay with a credit, debit or gift card.
Those signs are a result of a national coin shortage, which, according to the Federal Reserve, has been caused by disruptions in the supply chain when stay-at-home orders were put in place and businesses were forced to shutter to help curb the spread of the virus.
“What’s happened is that, with the partial closure of the economy, the flow of coins through the economy has gotten all — it’s kind of stopped,” said Fed chairman Jerome Powell.
That, and a decline in coin production in an effort to keep employees safe, has left businesses across the region facing more complications as they work to reopen while adhering to social distancing guidelines and an uncertain future amid the pandemic.
Bryan Calhoun, owner of Olympia Coin Laundry in Versailles Borough, said quarters are essential to keeping his business open, and right now he’s having trouble getting a hold of them.
“The coins usually go in a big circle. It’s usually self sufficient,” Calhoun said. “They usually come out of the washing machine and go back into the changer, but when the pandemic started we started losing quarters, meaning we had to bring them into the store.
“After some investigation, we were told it’s because the banks are only doing drive-thru.”
Calhoun said a PNC Bank teller told him drive-thru pneumatic tubes can’t carry rolled coins and that customers are being asked to make appointments if they want to drop-off or pick-up change.
He’s walked away from bank visits over the past two weeks with no quarters.
“They said no quarters,” Calhoun said. “I was buying them $500 at a time from the mint but they said they aren’t available. We know the teller personally and she said we just can’t get them from the Federal Reserve.”
He said other businesses have been using laundromat change machines to get their hands on much-needed quarters.
“People and business owners who can’t get change at the bank are coming to my business to get coins,” he said.

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