Banks are begging for spare change: How long coin shortage could last – By Susan Tompor (Detroit Free Press) / Aug 1 2020
Banks are begging you to break open your piggy bank, dig through your seat cushions and unload those coffee cans full of change sitting in the closet.
The COVID-19 change shortage has bankers across the country asking customers to bring in rolled coins as a way to pump more pennies, nickels, dimes and quarters into circulation.
“If you have spare change, we encourage Michiganders to contact their local bank and make an appointment to exchange rolled coins,” said T. Rann Paynter, president and CEO of the Michigan Bankers Association, in a statement.
A Wisconsin bank this summer went so far as to offer an extra $5 for every $100 in coins that are brought in.
The deal turned out to be incredibly popular and lasted but seven days.