Fountain Hills residents may have noticed signs popping up on the doors and windows of local businesses asking patrons to use exact change. This is due to a national slowdown in coin circulation, which the United States Mint recently addressed in a public service announcement.

According to the announcement, the impact of COVID-19 has resulted in the disruption of the supply channels of circulating coinage. In other words, businesses don’t have the usual supply of pennies, dimes, nickels and quarters necessary to make change or break bills.

“In normal circumstances, retail transactions and coin recyclers return a significant amount of coins to circulation on a daily basis,” reads the statement. “However, precautions taken to slow the spread of the virus have resulted in reduced retail sales activity and significantly decreased deposits from third-party coin processors, resulting in increased orders for newly minted coins produced by the United States Mint.”

Third-party coin processors and retail activity account for the majority of coins put into circulation each year, according to the statement. For example, in 2019, the Mint contributed 17 percent of newly-minted circulating coins paid into the supply chain, with the remainder coming from third-party coin processors and retail activity.

“Simply put, 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. You may be experiencing this in your local communities. We are asking for your help in improving this coin supply issue.”

To address the situation, the Mint is asking everyone to pay for things with exact change and return spare change to circulation. Until coin circulation patterns return to normal, it may be more difficult for retailers and small businesses to accept cash payments, according to the release. Locally, some businesses have started asking patrons to pay with exact change, while others have made it mandatory due to the coin shortage. The press release notes that, for many, paying with hard currency is the only option.

“For millions of Americans, cash is the only form of payment and cash transactions rely on coins to make change,” reads the announcement. “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. The coin supply problem can be solved with each of us doing our part.

“As important as it is to get more coins circulating, safety is paramount. Please be sure to follow all safety and health guidelines and rules when visiting retailers, small businesses, grocery stores, and financial institutions.”