Cash Out on Coins during the COVID-19 Pandemic
Due to the COVID-19 pandemic, coins are in high demand.
According to a report from KZTV, some banks around Texas are offering special buy-back programs for customers wanting to exchange coins for cash. The ongoing COVID-19 situation has slowed the circulation of coins across the country, and now many stores and banks are facing a shortage of change.
Several banks across Texas are offering a 5-10% incentive on coin exchanges, which sounds like a major win to me! I'm one of those people who will hoard coins for an eternity, but never get around to cashing them out. Now I have exactly the motivation I need to haul those coins to the nearest bank.
In a press release, the US Mint explained that, "there is an adequate amount of coins in the economy, but the slowed pace of circulation has meant that sufficient quantities of coins are sometimes not readily available where needed."
If you want to help get coins back into circulation, dig out that change and cash it in. Your bank may be offering a special buy-back incentive, so don't miss out!
“We ask that the American public start spending their coins, depositing them, or exchanging them for currency at financial institutions or taking them to a coin redemption kiosk.”