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Coin shortage continues as more people opt for contactless payment options

Financial experts say we're facing another currency crisis. Quarters, nickels, dimes, and pennies are all still in short supply.

TOLEDO, Ohio — Ohio, we've been shortchanged again and it's happening just two years after the most recent pandemic-related currency crisis

Financial experts say we're facing another coin shortage. 

Quarters, nickels, dimes, and pennies are all still in short supply.

"In 2020 we started hearing about the coin shortage, but you don't hear about it as much anymore but I do think that there is some sense of a shortage still happening," said Audra Johnson with the Ohio Banker's League.

As people return to their normal lives, some of the effects of the pandemic are carrying over.

Johnson says people are sticking with some of the changes that made life more convenient.

"People are now buying their groceries online that never did before, and those trends that happened during the pandemic have kind of stuck around," said Johnson.

And because of that, there is an imbalance of where coins are.

She says the money is out there, it's just not being circulated as more people opt for contact-less or cards as payments.

"So people are still using plastic more than cash, therefore there are not as many coins in circulation, the mint was shut down during the pandemic, or partially shut down, so there weren't as many coins being produced," said Johnson.

She says Ohio isn't having as big of a problem as other states, but the shortage will still impact people locally, and some people more than others.

"It does impact some of those people who may not have the know-how to use digital forms of payment or don't want to have plastic, or don't want to have a debit card or credit card," said Johnson. "So those are the people who are most susceptible to the coin shortage."

She says this also affects people who still need to use cash for currency or people who are paid in cash, but there are ways to help.

If you do have a large jug of change or extra money laying around take it to your bank. 

Banks have coin machines that you can put your change in and it can go directly into your account.

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