Stores asking customers to exchange coins during shortage
Federal Reserve is limiting the number of coins banks can order
LANSING, Mich. (WILX) - You ever get an annoyed look from the clerk when you pay for something with spare change?
That probably won’t happen right now. In fact, some stores here in mid-Michigan are practically begging customers to bring coins in.
A jar of quarters and pennies are like gold.
Stores no longer getting coins from the bank are now asking customers to use them.
While it’s an adjustment for some, Anna Williams doesn’t need to make any changes.
“I can put it in envelopes and divide it up by my bills. If I had a card, it would kind of hard to do,” she said.
Williams was surprised to find out about the national shortage.
She said using cash helps her stay on budget.
“If I were to have a card, I think I’d spend more than I should,” said Williams.
Quality Dairy CEO Ken Martin said they have a lot of customers like her.
“There are a lot of cash transactions,” he said. “And of course you have to finish the deal, you’ve got to make change.”
Many businesses are seeing more people use plastic as an effort to stop coronavirus.
The Federal Reserve said businesses closing also didn’t help so it put a limit on how much coin banks can order.
That;s why Martin is encouraging customers to bring in their coin stash.
“We prefer it rolled but just because it is all time consuming. Obviously if it is small amounts of change we can count it out. We’re good at it,” Martin said.
Horrocks Farm Market is asking customers to use its coin-counting machine to help with larger exchanges.
Meijer is limiting transactions at its self-checkouts to plastic only because of the shortage.
Stores will be collecting spare change until further notice.
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