Getting Coin Moving Cannot Be an Old Adage
Sep 21, 2020
By: Hannah Walker, VP of Political Affairs, FMI
We have all heard or even caught ourselves saying the old adages, “It’s a marathon, not a sprint” and “Rome wasn’t built in a day,” when we want something to come to fruition sooner rather than later. However, we cannot wait for Rome to be built when it comes to mitigating the current coin circulation problem, which continues to have a real impact on grocers and their customers.
It will take all of us working together to solve this problem, and the faster, the better. As a member of the U.S. Coin Task Force, we supported the development of a new resource that retailers, banks and consumers can use to help #getcoinmoving. Much of the retailer toolkit includes ideas and best practices used by FMI retail members.
Through our work with the Federal Reserve, we’ve collaborated with key stakeholders and players in the coin ecosystem in an effort to create solutions and measure their effectiveness. We will only reach success when our members have access to adequate coin supply.
To ensure that our efforts reflect your needs and that we have a clear picture of the current state of coin out in the field, please continue to share information with us. I hope to hear from all our members on your current coin situation, and if you’ve had any success in coin drives or other consumer-facing programs to generate coins.
We will continue to work with the Task Force, our partner retail trade associations and other stakeholders to explore how to improve the current coin supply and #getcoinmoving.
