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Arkansas businesses affected by national coin shortage

While some businesses are moving toward all-electronic payments during the pandemic, others are short on change.

LITTLE ROCK, Arkansas — A common phrase, "short on change" is now becoming a reality for more and more people as businesses see the signs of the national coin shortage here in Arkansas.

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Sport Clips Haircuts CEO Edward Logan strongly encourages cashless payment options at this stores, and even has signs posted on the doors and at the front desk discouraging cash.

"Not only is it fewer things you have to touch, which is something everybody is concerned with now, it's also a lot faster," said Logan.

Logan said his customers were mostly using cashless options before the pandemic, and he wants to continue moving toward all-electronic payments.

Arkansas banks have also started noticing the effects of the national coin shortage.

The national coin shortage began as the pandemic started because there were less transactions of cash at businesses.

First Security Bank recently sent an e-mail to customers asking them to exchange their coins for paper or electronic money after they noticed their coin supply diminish.

"We have business customers that depend on change orders and we can just tell that it's not in surplus like it used to be," said Andrea Lewis with First Security Bank.

Lewis said this shortage is not an emergency yet, but it is difficult to find enough coin to meet everyone's needs.

There are some things you can do to help the supply demand.

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First Security Bank recommends if you have containers full of change, bring them to the bank and use a coin machine to deposit your money.

You can also use a drive-thru for smaller amounts of change.