Giant Eagle customers exchange 100 million pennies during special one-day event

Giant Eagle customers exchanged more than 100 million pennies on Saturday during a special event. 

Giant Eagle held “Penny Exchange Day” across 200 stores on Saturday, when customers brought pennies and exchanged them for a gift card equal to twice the value of the pennies. More than $2 million in Giant Eagle gift cards were handed out during the event.

In a statement, Giant Eagle President and CEO Bill Artman said the penny total was “nothing short of amazing.”

“Today, our customers and Team Members came together to do something special,” he said. 

The event, held from 11 a.m. to 4 p.m., featured a minimum exchange per transaction of 50 cents and a maximum of  $100. It came on the heels of the U.S. Treasury phasing out production of the penny. The decision is leaving businesses short of the 1-cent coin, making it hard to give customers exact change. Banks are also rationing them. 

“This incredible experience will ensure we can provide exact change to customers for months to come,” Artman’s statement said. 

Congress established the United States Mint in 1792, and the penny was one of the first coins made by the mint. The coin cost about 3.7 cents to manufacture and distribute in 2024, according to the U.S. Mint’s 2024 annual report. The Treasury will save the U.S. Mint about $56 million in annual savings, the Treasury told CBS News. 

According to its website, Giant Eagle has 400 stores in Pennsylvania, Ohio, West Virginia, Maryland, and Indiana.

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