Three branches of Mechanics Bank are inviting Contra Costa County residents to exchange their spare change for paper bills at no cost amid a nationwide shortage of coins.
The Danville, Mira Vista and Walnut Creek branches of 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 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 the three Mechanics Bank branches to exchange coins from 10 a.m. to 4 p.m. Monday through Friday.
The Danville branch is located at 345 Railroad Ave. inside Lunardi’s Supermarket, the Mira Vista branch is located at 4100 MacDonald Ave. in Richmond, and the Walnut Creek branch is located at 1350 N. Main St.