King Soopers offers shoppers a new way to get their change among coin shortage

Local News
This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

DENVER (KDVR) — King Soopers and other Kroger grocery stores are adjusting the way they handle change for cash customers.

Citing a coin shortage, the company is offering customers two new options for their change.

The first option, the company told FOX31, is for customers to have their change loaded onto their rewards card for use on a future purchase.

Customers who do not wish to do this can have their change donated to the Zero Hunger | Zero Waste fund through the round up program.

Statement from King Soopers:

“The Federal Reserve is experiencing a significant coin shortage across the U.S. As a result, it is impacting our ability to provide change to our customers. With a focus on the shopping experience, we are temporarily implementing a new process for providing change to customers paying with cash through our staffed checkout lanes. Effective immediately customers will be able to load their change to their loyalty card for use towards a future purchase or round up to help support our Zero Hunger | Zero Waste Foundation.”

Statement from Safeway:

“Overall, coin shortage is not a significant issue for Safeway – only in some of the more outlining rural areas are we seeing a shortage.  Safeway customers can continue to pay with cash or credit.”

Statement from the United States Mint:

“The United States Mint (Mint) has been at full production capacity of circulating coins in mid-June.  In June, the Mint produced almost 1.6 billion coins, and we are on track to produce 1.65 billion coins per month for the remainder of 2020.  This equates to an annualized production level of 19.8 billion circulating coins.  For comparison, the Mint produced 12.4 billion circulating coins in 2019.  Production has increased while still prioritizing the health and well-being of Mint employees and maintaining a reduced risk of their exposure to COVID-19 in the workplace. The Mint acted quickly and decisively during the early phases of the COVID-19 public health crisis to implement measures to mitigate the risk of employee exposure to COVID-19.   Throughout the public health challenge, the Mint has continued to meet its essential mission of manufacturing coins to facilitate national commerce, and also continued to fill the critical missions of producing investment grade gold and silver bullion coins, as well as Congressionally-mandated numismatic products.

“During this pandemic, the demand for circulating coins has drastically increased, in part, because precautions taken throughout the Nation to slow the spread of the virus have reduced retail sales activity and significantly decreased deposits from third-party coin processors.  For example, in 2019, the Mint contributed 17% of circulating coins paid into the supply chain by the Federal Reserve. Third-party coin processors and retail activity account for the remainder of coins put into circulation.”

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Most Read

Top Stories

More Home Page Top Stories