(CBS DETROIT) – There’s a lot you can do with a little pocket change.
“We need change for parking. We need change for the laundromat and we need change for the vending machine. So yeah change is important. I don’t care how they try to slice it,” said Robert Turner of Detroit.
A limited supply of quarters, pennies, dimes and nickels is circulating across the country and now some retailers are breaking the dollar and keeping the change.
Kroger is implementing new policies because of the shortage.
Customers paying with cash can get change back by checking out with cashiers or by loading the balance to loyalty cards.
Self-service machines will not be electing coins.
The grocer said in in a statement the new policy is in connection to the Federal Reserve coin drought.
The Federal Reserve Bank Board Office denied CW50’s interview request about the shortage but in resource links sent to our Cryss Walker via email by the office, it says that low coin inventory is a result of the Covid-19 pandemic due to its slow circulation in the economy.
The U.S. Mint’s coin production is also down significantly to protect employees during the pandemic.
The issue is expected to be resolved as the economy opens in advanced phases.
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