Can you spare a peso? - Macleans.ca

Can you spare a peso?

There’s no spare change in Argentina, literally

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For several months now, the nation has been experiencing a curious and troublesome shortage of coins. Some merchants will even refuse small transactions if it means having to give coins to customers as change. Even many banks are reluctant to part with their pesos—some have even been fined for refusing to change bills into coins. The crisis has led to a black market for coins where they sell for more than seven per cent of their face value. What’s causing the shortage? That’s not clear. The central bank is minting record numbers of coins (enough for 125 per person). Some speculate coins are being melted down and sold for metal.

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