Mechanics Bank Wants Your Coins

Richmond CA

10 August, 2020

4:48 PM

Description

RICHMOND, CA — Do you have a jar or can of coins at home? The Mechanics Bank branch on MacDonald Avenue in Richmond wants your quarters, dimes, nickles and pennies! The bank has invited Contra Costa County residents to exchange their spare change for paper bills at no cost — at 3 specific branches — to help ease a nationwide shortage of coins. The bank will waive coin exchange fees for a limited time. The coins will then support the bank's local business clients who are affected by the coin shortage. While there are enough coins currently in circulation, Americans have not been exchanging them or spending them at a rate similar to before the COVID-19 coronavirus pandemic started. Small businesses like coffee shops that sell most of their goods for $10 or less have also seen a surge in payments via contactless methods in lieu of cash. The Federal Reserve has projected a monthly gap of as many as 3.5 billion coins through the end of the year. Residents can visit three participating Mechanics Bank branches to exchange coins from 10 a.m. to 4 p.m. Monday through Friday. The Richmond branch is at 4100 MacDonald Ave. The participating Walnut Creek branch is located at 1350 N. Main St. The other branch is in Danville at 345 Railroad Ave., inside Lunardi's Supermarket. — Patch editor Bea Karnes and Bay City News contributed to this story Full coronavirus coverage: Coronavirus In California: What To Know East Bay Company Providing Food Boxes To Alameda County Food BankCalifornia Colleges, Universities: Coronavirus State GuidanceBay Area Discovery Museum Reopens After Coronavirus Closure