A coin shortage has hit America but not in North Dakota
BISMARCK, N.D. (KFYR) -
Safety measures forced the U.S. Mint to produced fewer coins.
Change may be short in America but that is isn't the case for North Dakota.
Staff at Perkins said it hasn't had a big effect on their customers, but they have felt the impact elsewhere.
Perkins Restaurant and Bakery Service Lead Jordan Oster said, “It has just impacted us in a way that the bank is limiting the amount of change we’re receiving on our daily withdraws and deposits when it comes to the stores account.”
Perkins staff said they used to get as many coins as they needed, now they’re limited to two rolls of each coin.
The Federal Reserve has issued a temporary coin allocation that reduces the amount of coin distribution centers can give out, one of them being the Bank of North Dakota.
Now, centers only receive 40% of the nickels and dimes as well as 60% of pennies and quarters they request.
Bank of North Dakota’s Director of Payment Solutions and Digital Banking Joe Herslip said, “Businesses that received a lot of coin, there wasn’t a way to re-deposit that coin back to their bank and then the U.S. Mint who actually mint’s the coin for the U.S., they took measures to protect their employees and that impacted the amount of coin that was produced.”
Herslip said by managing order amounts North Dakota has avoided a coin shortage.
Herslip said the Federal Reserve has assured all the banks that the paper money supply will meet demand.
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