Local businesses react to national coin shortage

Local News

WICHITA FALLS (KFDX KJTL) — Federal Reserve officials are working on several fronts to mitigate the effects of low coin inventories due to COVID-19.

This has some local businesses changing the way they operate their cash flow while others said they haven’t noticed a difference.

Walmart, Dollar General and Target are among several major retailers asking customers to pay with plastic rather than cash. This is a result of COVID-19’s major disruption to the normal circulation of U.S. coin and it’s trickling down to smaller businesses as well. Yet, one local store owner says he hasn’t had to change the way he does business just yet.

“I have no idea if it’s coronavirus and people not wanting to exchange coins, I’m not sure, but then again, I think it’s all been blown out of proportion,” Kocks Liquor owner Victor Kocks said. “I guess if you talk to the actual federal reserve and they can tell what the deal is I have no idea.”

According to the latest report from the Federal Reserve, COVID-19 has disrupted the supply by having mint’s implement safety measures to protect employees. Carey’s Corner owner Scott Maybry said going to the bank for coins is just not the same as before.

“One day I went in to get change, and they told me ‘I can only give you half of the amount of quarters you asked for,’ and that’s it,” Mabry said. “It was just quarters, too. It wasn’t dimes, nickels or pennies.”

Scott said he has his theories on why this is happening.

“The government is forcing us to use the plastic to try to get rid of cash, so they can track us, that’s my opinion,” Mabry said.

“Not knowing the whole situation, I don’t know,” Kocks said. “I don’t know what’s driving the whole comments being made about it. We will kind of wait and see until then. I will be keeping some coins aside in case I need so.”

Staying prepared in what has so far been a strange year for everyone.

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