Back in the summer, you probably noticed signs in stores asking you to pay with exact change because of a national coin shortage. The Federal Reserve even formed a Coin Task Force to address the problem.
But it's December, and those signs are still posted despite efforts to get more coins rolling through the economy.
For those of us who need nickels, quarters, dimes and dollars rattling around in our pockets, professor Jay Zagorsky of Boston University’s Questrom School of Business says the shortage underscores the broader implications of the move toward a cashless society.
Many people have stopped using physical currency during the pandemic because of concerns that cash and coins could spread germs and even the coronavirus, he says.
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But it's December, and those signs are still posted despite efforts to get more coins rolling through the economy.
For those of us who need nickels, quarters, dimes and dollars rattling around in our pockets, professor Jay Zagorsky of Boston University’s Questrom School of Business says the shortage underscores the broader implications of the move toward a cashless society.
Many people have stopped using physical currency during the pandemic because of concerns that cash and coins could spread germs and even the coronavirus, he says.
Read more
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