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Don’t Get Shortchanged By the Coin Shortage

Many stores and restaurants aren’t accepting cash because of the coin shortage so it’s important not to get shortchanged by the coin shortage. The U.S. Mint slowed coin production to keep their employees safe during COVID-19, but is now back at full production capacity. Arriving at the checkout counter and hearing you can’t use cash can be frustrating, so Launch gathered tips on how to avoid this until coin levels are back to normal.

1.) Bring Your Own Coins

A pile of coins | Bring Your Own Coins
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If you’re paying cash then bring your own stash of coins. This way you can pay in exact change and avoid the hassle.

2.) Use Your Credit Card

Many credit card companies reward you for using your card with points towards flights, cash back, or statement credits. Currently, launch Visa Platinum Rewards Credit Card members earn 3 times the points on up to $2,000 in recurring* payments until the end of the month. Check out more here.

3.) Deposit Your Coins

A jar of coins with plant growing out of it | Deposit Your Coins

Gather your extra coins and deposit them into your checking account. This way you can easily use your debit card while you’re out shopping. Launch offers a variety of checking account choices that you can view here.

4.) Know Where You Shop

Woman standing in aisle looking at products | Know Where You Shop

Stores should clearly state or display if they don’t offer change. If they don’t and you feel they were intentionally misleading you should report it to Florida’s State Attorney General, Ashley Moody.

We hope these tips are helpful in avoiding getting shortchanged by the coin shortage. The Federal Reserve says they’re working with the U.S. Mint and others on solutions to the coin shortage. They say as the economy recovers and businesses reopen, more coins will start following back into retail and banking channels.

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