NATIONWIDE -- They say change stars with you, and you might want it to be exact during your next trip to the store because your local retailer may not be able to make it.

What You Need To Know

  • Shutdown orders lead to nationwide coin shortage

  • Cash and coins have not been flowing normally during pandemic

  • Some retailers not accepting cash payments

  • Fed chair says coin shortage a temporary situation 

Federal Reserve Chairman Jerome Powell last week told a House Congressional Committee that economic shutdowns across the country due to COVID-19 could lead to a temporary coin shortage.

It appears to be the case. A sign posted at an Austin, Texas, H-E-B grocery store this past weekend warns of a coin shortage and asks customers to use a debit card, credit card, or have exact change ready.

According to Powell, the shutdown interrupted the normal flow of cash and coins. In addition to that interruption, and despite the fact that handling cash is generally thought to be safe, there has been an uptick in contactless payment.

Some businesses across the country have gone so far as to ban the use of cash. In response, some members of Congress have introduced legislation aimed at requiring businesses to accept cash. There is fear that some consumers could be turned away for lack of a credit or debit card.

The Associated Press contributed to this report.