Coin Shortage: Make extra cash when you sell your coins to TBAS
Pago Pago, AMERICAN SAMOA — Several stores have posted signs at the check-out counters asking customers for coins in exchange for dollar bills. Store clerks have told Samoa News that there’s been a shortage of coins available from the local banks. And some customers saving coins in their piggy-bank have helped out their favorite stores while others have refused.
Early this week, the Territorial Bank of American Samoa explained the shortage of coins.
In a brief statement, the government owned bank says the “shortage of coins is due to restrictions placed by the Federal Reserve, once a week cargo flights which have bumped shipments due to overloading, and the increased demand for cash due to the distribution of three stimulus fundings totaling $3,200 per qualified recipient.”
It also says that TBAS is working to relieve this shortage and will soon have a shipment coming to the territory.
Meanwhile, TBAS says it is offering ten cents for each dollar of coins brought to the Centennial Branch starting June 14th. The minimum amount is $20, and the coins must be properly rolled with standard wrappers obtained from some retail stores; the bank will not provide wrappers.
As an example, if you bring in $50 worth of rolled coins, the bank will give you an extra $5.