Describe the coin shortage of 1999 and 2000 and describe why it occurred. What ended the shortage?
What will be an ideal response?
The coin shortage began when people demanded an unexpectedly high number of state quarters in 1999. The U.S. Mint was unable to keep up with the demand. As a result, it shifted production to state quarters from other coins.Eventually, people began hoarding the state quarters, and spending occurred with other denominations, which also fell short of supply. In 2000, production of the Sacagawea golden dollar added to the problem as it diverted production away from the popular state quarters. As the popularity of the state quarter program declined in 2001 and the production capacity of the U.S. mint increased, the shortage ended.
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What will be an ideal response?
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