I recall seeing retailers and banks with notices early during the pandemic calling for exact change or only using plastic cards to avoid the coin shortage. At that time, it was more of an issue of minting coins due to shortage of resources and people to issue them. The supply chain issue had disrupted many industries to this day but it feels surprising to see the Mint in this issue. However, it could be an unintended consequence of the amount of fiat printing done the prior two years. Not surprisingly, this is not mentioned at all despite the alarming percentage of fiat issued as a percentage of total money supply out there (saw something like 75%)!
The other comment made by the United States Mint is the increasing amount of electronic transactions taking place. This is what leads them to comment on being a circulation issue as electronic transactions will not allow the coins to circulate efficiently. For me I would agree to this but also knowing that even these transactions are inefficient given the delay in settlements. That is where crypto and blockchain shines and continues to show the world where we should head as an innovative solution for the financial system and global economy. It always is great to see these indicators in action to validate our own investment thesis for the long term.
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