Local banks, businesses deal with national coin shortage

Benjamin Franklin once said, “A penny saved is a penny earned.” 

Of course, the meaning of that short quip dealt with saving money. However, the U.S. Treasury is saying it might be more helpful of you put your spare change in circulation as the country is continuing with a coin shortage. 

According to the Federal Reserve, business and bank closures associated with the COVID-19 pandemic, have significantly disrupted the supply chain and normal circulation patterns for U.S. coins. While there is an adequate overall amount of coins in the economy, the slowed pace of circulation has reduced available inventories in some areas of the country.