Mint's production facilities in March and April.Īnd when the economy started tanking with record losses in the spring, it was enough for some people to "start hoarding coins and hoarding money in general," Soques said. The letter D is stamped on coins from Denver Mint,P stands for Philadelphia, and S means San Francisco. The motto'In God We Trust' has been printed on all coins since theyear 1984. New coin production was also hampered at the U.S. Themotto 'E pluribus unum' ('Out of many, one') tells us thatlots of people joined together to form our nation.
Coinstar, which operates about 22,000 coin-cashing kiosks nationwide, said volume slowed amid state and city lockdowns. The 22 members of the task force were announced Friday, representing government agencies, banks and businesses, and they are convening this month with the goal of sharing recommendations in early August to identify "actionable steps that supply chain participants can take to address the current coin circulation issue."ĭaniel Soques, an assistant professor of economics at the University of North Carolina Wilmington, called the situation a "perfect storm" of circumstances born out of the pandemic, during which businesses that deal heavily in coins, such as laundromats, may have closed, while the fear of getting the coronavirus by touching currency may have spurred people to avoid physical monetary transactions altogether.