Shortages of goods have been common during the coronavirus pandemic, but a new supply chain problem is hitting American pockets more directly.

Banks and businesses are struggling to replace their coins due to a shortage at the Federal Reserve, altering its operations and leading to inconveniences for customers.

In an email to customers, Pinnacle Bank said they have a limited amount of coins they are receiving from the Federal Reserve. The shortage has been caused by business shutdowns, lessened production at the US Mint and a lack of change being deposited at banks.

Pinnacle Bank said they are monitoring the situation as it develops, but in the meantime they encourage customers to deposit change to help replace the bank's supply.

The effects of the shortage are trickling down to businesses as well, and some are unable to accept anything besides electronic payments and exact change. Kroger, a grocery store chain based in Cincinnati, is encouraging customers to round their total up to the nearest dollar for charity. Walmart is encouraging customers to pay electronically and is no longer distributing change from its self checkout kiosks.

Marty Jarvis, director of marketing for B&R stores, which operates Russ's Market and Super Saver in Lincoln, said the impact on their operations has been limited, but they are monitoring the situation as the shortage continues.

Originally posted here:
Coin shortage impacting Lincoln banks and businesses - Lincoln Journal Star