Too little money in circulation: Americans to spend their coins

Due to the Corona pandemic in the United States there is not enough money in circulation –the government in Washington has called on the people to pay with coin

Too little money in circulation: Americans to spend their coins

Due to the Corona pandemic in the United States there is not enough money in circulation –the government in Washington has called on the people to pay with coins. "The Problem is, that the circulation was almost stopped, because the shops and banks were closed," said the head of the Federal Reserve, and Jerome Powell, on Wednesday in front of journalists.

The government appealed to the citizens, you coin money, either in the shops or in your Bank Deposit. Powell said that the government had formed a "coin money task force" to tackle the Problem.

many American citizens did not pay with a debit or other Bank cards, said the coin manufacturer-U.S. Mint recently. "For millions of Americans, cash is the only Form of payment, and cash payments, based on the fact that there are coins for Change."

This year produced 1.6 billion coins per month, said the U.S. Mint. In the average of the last years on a monthly basis, approximately one billion coins were produced.

Updated Date: 03 August 2020, 13:19

You need to login to comment.

Please register or login.

RELATED NEWS