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The pandemic has brought on a shortage of toilet paper, cleaning supplies and disinfectants. Now there's a new shortfall in the form of currency.The coin supply has been disrupted, forcing the Federal Reserve to step in.Like everything else in our lives, COVID-19 got in the way. This time it’s affecting the currency supply by causing fewer coins.Now, the U.S Mint is trying to keep up with the demand.Jim Gaherity of Coinstar, which has 22,000 kiosks around the world, says this is a call to action.“What’s happened during the pandemic is businesses have been shut down without access to buy your daily coffee, afternoon sandwich, which most purchases of small items is done by cash,” Gaherity said. “In the US, the ability of the consumer to recirculate that coin back into the retail, which then goes back into the bank, slowed down significantly.”The 29-year-old company is mainly featured in grocery stores and banks. People come in with loose change and get a voucher for folding money, or these days, you can load your Starbucks and Amazon account, donate to charity, or buy bitcoin. Gaherity says, believe it or not, most of those coins are now stuck in people's homes.“The vast majority of coins is (sic) recirculated through typical use of consumer,” Gaherity said. “They’re either taking it and buying things from store. which goes into till which then goes back into the banking system into inventories, or they’re going to aggregators like Coinstar.”The way money is funneled through our country is like a big cycle. The mint produces a new coin and it goes through the federal reserve bank, which then takes orders from banks and distributes it.“What banks do is look historically in terms of retail orders that they’re getting,” Gaherity said. “Retail is getting coin and currency from their local bank and they know historically what that volume typically looks like so they place their orders in advance to fulfill the need from retail.”Businesses and consumers help move it around too.“Coinstar recirculates more coins every year in the US by 3.5 times what the US mint produces,” Gaherity said.Those Coinstar kiosk bins weigh about 700 pounds when collected. That's a lot of pennies, nickels, dimes and quarters. Trucks pick it up and swap it out.“That coin goes on the truck and into a processing center,” Gaherity said. “It’s places like Loomis and Brinks where we deliver that coin. They take those bins and fine count every single piece and distribute into denominational bins so all the pennies, nickels, dimes, all get segregated. Once that’s all done and count is complete, it goes back into the local bank.”Coinstar is doing extra pickups to help recirculate as much as they can. There's just not enough out there because people aren't putting it back into the system.Asked if coins are, like toilet paper once was, the next thing that people are hoarding. Gaherity said, “That’s the question we’re trying to answer. We work with the Mint and Federal Reserve to try and understand better are banks hoarding it right now? Are they keeping it for themselves for their customer calls to start again? If you think about a bank that services Walmart, they want to have enough coin in their inventory to deliver to Walmart for their registers. They don’t want to disappoint Walmart. Nobody wants to disappoint their retailers.”Banks are the largest recycler of coins. They, like the rest of us, are watching, waiting, to be able to resume normal routines. When we asked what's next, Gaherity said, “That is the question of the day. How do we get the right supply to meet the demand that’s out there? What we’re asking Americans is come out and do your normal transactions, go to a Coinstar, go to a bank and make despots so we can see recirculated coin fill the pipeline enough for the demand we have.”The good news he says, is that the European Coinstar Operations are back online and normal. 3923
The Macy's at Herald Square boarded up its windows in anticipation of protests from the result of the presidential election. PIX11 News cameras saw workers boarding up along the famous storefront Friday evening.A spokesperson for Macy’s told PIX11 News on Saturday the windows were initially scheduled to be covered up next week."Our windows at Macy’s Herald Square were previously scheduled to be dark next week in set-up for our annual holiday displays. Out of an abundance of caution, we are implementing additional security measures at several of our stores,” the spokesperson said.A variety of Fifth Avenue stores also were boarded up on Friday afternoon, some as early as 9 a.m. Many Manhattan stores, including Macy's at Herald Square, were looted in the unrest following protests against the police custody death of George Floyd in Minneapolis.PIX11 News' James Ford also contributed to this story. 915
The Mega Millions jackpot grew to 1 million for Friday’s lottery drawing, making it the fourth largest Mega Millions lottery jackpot in history.No tickets matched all six numbers drawn in Tuesday night's drawing. The cash value of the jackpot is 1 million.Tickets are each. See official rules HERE.The winning numbers in the March 27 drawing were 7, 25, 43, 56, 59 with 13 as the Mega Ball. Three tickets sold in Florida matched four numbers and the Mega Ball and are worth ,000 each.The Friday prize is the largest Mega Millions jackpot since July 8, 2016, when one winning ticket sold Cambridge City, Indiana won a 6 million jackpot. 658
The most dangerous place for women is the home, according to a new UN study.Out of an estimated 87,000 women killed last year, some 50,000 -- or 58% -- were killed by partners or family members, according to the 2018 report on gender-related killing of women and girls by the United Nations Office on Drugs and Crime (UNODC).More than a third of the women intentionally killed in 2017 were killed by a current or former partner, and 137 women are killed by family members every day, it said.While the majority of intentional homicide victims are male and killed by strangers, women are far more likely to die at the hands of someone they know, the study showed.UNODC Executive Director Yury Fedotov said women "continue to pay the highest price as a result of gender inequality, discrimination and negative stereotypes" and that gender-based homicide is a "lethal act on a continuum of gender-based discrimination and abuse."The study, released on the International Day for the Elimination of Violence Against Women on November 25, looked at homicide data related to gender violence and "femicide," a term understood as a gender-based hate crime perpetrated by men.Globally, Asia was the region with the highest number of women killed by partners or family members last year, at 20,000, followed by Africa (19,000), the Americas (8,000), Europe (3,000) and Oceania (300).However, rates were higher in Africa and the Americas, meaning women faced the greatest risk of being killed by partners or family members in these regions.In Africa, these homicides accounted for 3.1 victims per 100,000 of the female population and in the Americas, the rate was 1.6 victims per 100,000 of the female population -- compared with 0.9 per 100,000 in Asia.Europe showed the lowest rate of gender-based homicide, with 0.7 victims per 100,000 of the female population.While countries have taken various steps to address violence against women and gender-related killings -- including the adoption of special units and more training in the criminal justice system -- the report said there is no sign of a fall in the number of gender-related killings of women and girls worldwide.The total number of female homicide victims appears to have increased since 2012, it said, when the number of women killed by partners or family members was estimated at 48,000 -- or 47% of all female homicide victims.The new study has called for a series of measures to combat the global problem, including coordination between police, the criminal justice system, health and social services, and involving men more in addressing the problem."In order to prevent and tackle gender-related killing of women and girls, men need to be involved in efforts to combat intimate partner violence/family-related homicide and in changing cultural norms that move away from violent masculinity and gender stereotypes," it said. 2892
The House has approved legislation to provide direct relief to Americans suffering physically, financially and emotionally from the coronavirus pandemic.Supervisor Nathan Fletcher talks about coronavirus and newly approved stimulus bill will impact San Diego County. 274