Your Change Jar Could Be Worth More Than Ya Think
There's a coin shortage happening, which is making it difficult for some businesses to properly function. A bank in western Pennsylvania is paying people 5% interest for bringing in any change they might have laying around.
Source: FOX 6
That's right, unlike those machines at the grocery store that take your change and then charge a 5% fee, this bank is willing to pay you 5% more than what your coins are actually worth.
So, stop hoarding your pennies, nickles, dimes and quarters. Sure, you'll have to drive to Pennsylvania to cash them in, but if you have enough change accumulated, it might just be worth it, right?
But why is there a coin shortage? USA Today looked into it for us. Basically, as COVID-19 spread throughout the country and businesses were forced to shut down, money stopped circulating as freely. In addition, the US Mint cut down their staff during the pandemic, so they have been producing as many coins as normal.