Since more people decided to stay home when the coronavirus outbreak spread, they were spending less money. If people were out, fear of catching the virus kept them from touching many things, including loose change at the register.
As Americans made more non-cash purchases, headlines of a coin shortage followed.
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“The coins aren’t getting to where they need to be,” said Harvard business professor Shelle Santana.
In 2018, non-cash transactions, including debit cards, credit cards, electronic payments and checks, totaled more than 174 billion. In 2015, that number was 30.5 billion less.
“It’s just faster,” Santana said. “It’s faster for the consumer and faster for the seller. So if your cashier isn’t having to count coins in particular,