WASHINGTON D.C./APPLETON (WGBA) -- The Federal Reserve says there is a national shortage of coins. They say the pandemic is the main cause for this shortage.
"With the partial closure of the economy, the flow of coins has kind of stopped," said Jerome Powell, the chair of the Federal Reserve.
He mentioned during a House Hearing last week people have not been exchanging enough money - leading to less coins being created.
Some small businesses are not seeing the impact of it yet.
"We have not had any issues with coins," said Richard Niemuth, a store owner in Appleton. "If somebody misses a nickle or a dime or a quarter it is the way it is.”
Niemuth says business has been going well for him since the pandemic started. His store is essential. However, he is watching the way people pay.
"We encourage them to use debit," he said. "We charge for credit use now. Cash as of now is still fine."
Niemuth believes as the economy opens back up, the coin issue will go away.
The Federal Reserve says they are working on a plan to fight this issue.
