TOLEDO, Ohio (WTVG) – A penny saved is a penny earned, right? Since the U.S. Treasury is winding down penny production, some major businesses are feeling the pinch.
In May, the Trump administration decided to phase out new penny production. The U.S. Mint reported that it cost 3.9 cents to make the penny in 2024.
It marked the 19th consecutive year that the penny cost more to make than its face value. Makes “cents” right?
Well, a letter from the National Association of Convenience Stores to the Senate Banking and Housing Financial Services Committees stated in part, “As you are aware, the U.S. Mint produced its last pennies in June of this year. The Federal Reserve distributes these coins throughout the nation and is reporting that dozens of coin distribution locations have already run out of pennies to distribute to facilitate commerce. Many more will run out soon in the coming days that will impact every congressional district.”
Shortages were not expected to start showing up until mid to late 2026. But for some chains across our area and the nation, they are feeling short-changed already.
All are dealing with said shortage in their own way.
At Sheetz, signs are up saying, “The U.S. Mint will no longer produce pennies, so we are short on change.”
Sheetz is asking consumers to either pay electronically, round up or even bring in a dollars worth of pennies and receive a free fountain drink.
At Home Depot, you will see signs saying, “Penny shortage. If possible, please use exact change for cash transactions.”
And a press release from Quick Trip says, “Since the government has not provided guidance on how to proceed, all cash purchases at Kwik Trip and Kwik Star locations will be rounded down to the nearest five cents, ensuring a guest-friendly approach. Kwik Trip will continue this approach until a permanent legislative solution has been enacted.”
This could be a model for other businesses, but there are some states and municipalities with cash laws that would actually prohibit this type of rounding.
These may be temporary fixes for now, but stores and NACs are asking Congress to pass a law that would allow this type of rounding nationwide.
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