Stuff You Should Know Short Stuff: The Great American Coin Shortage of 2020
Aug 19, 2020
In 2020, the U.S. faced an unexpected coin shortage due to pandemic-related closures disrupting circulation. This led to quirky payment alternatives and highlighted the challenges for small businesses and low-income households relying on cash. The conversation includes amusing anecdotes about Coinstar machines and clever ways people adapted to the crisis. It also touches on the age-old debate of coins versus paper money, all while introducing an initiative to get coins back into circulation.
AI Snips
Chapters
Transcript
Episode notes
The Coin Shortage Paradox
- There's a coin shortage in the US, but not because there aren't enough coins.
- Circulation has stalled due to pandemic-related business closures and reduced cash transactions.
Impact of the Shortage
- The coin shortage disproportionately affects low-income individuals who rely on cash.
- Businesses like laundromats and public transit are significantly impacted.
Solving the Shortage
- Spend your spare change to help improve coin circulation.
- Take your coins to a bank or Coinstar to get them back into the system.