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First National Bank of Fort Smith Holds Coin Drive due to nationwide coin shortage

The Federal Reserve announced a coin shortage due to COVID-19. First National Bank of Fort Smith will pay a 2% premium on coins now through June 20.
Credit: First National Bank of Fort Smith

FORT SMITH, Ark. — The Federal Reserve says the coronavirus pandemic has resulted in a national coin shortage.

First National Bank will pay a 2% premium on all U.S. coins brought to any of their branch locations.

First National Bank writes, “Get out your stash, look under your couch cushions, crack open those piggy banks and bring all of your coin to earn an extra 2%.”

Banks and businesses have shuttered or changed the way they operate during the COVID-19 crisis, resulting in fewer coins reaching the public, according to CNN.

Being a bank customer is not required to take advantage this deal.

Coins do not need to be rolled, as the bank prefers loose coins.

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