That pile of loose change in your car is worth more than you may think. According to the Federal Reserve, the COVID-19 pandemic has created a national shortage of coins, which has affected several businesses. St. Cloud-based Coborn’s Chief Financial Officer Jim Shaw says the shortage has affected the number of coins they get from the bank, which has caused their stores to shift to a “card only” policy in their self-checkout lanes:
“We are still accepting cash at our regular check-lanes but we are asking our guests to help out — the signs do ask for exact change if possible.”
Shaw says they don’t know when they will be able to get their regular supply of coins from the bank, so they are looking at other alternatives to help with the shortage. He says their banking partners are encouraging people to take their change jars to the bank, to help curb the shortage.