It seems this was poorly planned (which is not surprising). Since there are states and cities where the law requires to tender exact change to customers, what are retailers supposed to do now? Most people probably won't care, but you can imagine there will be opportunists sueing retailers because they were shortchanged by a penny or two…
Exactly. There are 300 billion pennies still in circulation. Some retailers will round up, some will give the exact change. The same as been happening for years now.
Here's a pdf of a report of the US Congress from 1996 discussing how to eliminate making pennies. It is very thorough.
I have read the links provided by Tony. It is not so simple as to say that the coin is still legal tender. People mostly fill penny-jars with them, so if the retailers can't get rolls from the banks, and if in certain legislations (not everywhere) that could have legal consequences, as some of the links indicate, then what are the retailers to do? Should we expect that people from now on will scoop a bunch of pennies from their jars before going out shopping? I doubt it.
Most people will certainly be accomodating, but you need only a couple of cranks to ruin your day.
I will tell some American tourists to spare all of their 1-cent pieces to coin collectors outside the US, including mine in the Philippines. There are many years that the 1-cent piece to collect.
Ang numismatika ay libangan ng pag-aaral ng barya at perang papel.
Numismatics is the hobby on studying coins and banknotes
Numismatik adalah hiburan pelajaran uang logam dan uang kertas.
The easiest solution would be to turn the table. An item priced $0.99 could be priced $1.01 and when the customer can't provide the one cent asked for, it's easy to say: “It's on the house!”.
The easiest solution would be to turn the table. An item priced $0.99 could be priced $1.01 and when the customer can't provide the one cent asked for, it's easy to say: “It's on the house!”.
Little tricky as you usually have to calculate tax over the item which rarely ends up a nice round to the nearest 5 decimal
I have read the links provided by Tony. It is not so simple as to say that the coin is still legal tender. People mostly fill penny-jars with them, so if the retailers can't get rolls from the banks, and if in certain legislations (not everywhere) that could have legal consequences, as some of the links indicate, then what are the retailers to do? Should we expect that people from now on will scoop a bunch of pennies from their jars before going out shopping? I doubt it.
Most people will certainly be accomodating, but you need only a couple of cranks to ruin your day.
However, the bill never advanced. Now that our government just reopened (after a record setting 43-day shutdown), it would be nice to have some guidance at the federal level.
Currently, local businesses are just asking (nicely) for customers who are paying in cash to use exact change. Here is a sign that I saw inside a grocery store nearby:
The easiest solution would be to turn the table. An item priced $0.99 could be priced $1.01 and when the customer can't provide the one cent asked for, it's easy to say: “It's on the house!”.
Little tricky as you usually have to calculate tax over the item which rarely ends up a nice round to the nearest 5 decimal
Sorry, forgot about that detail - no wonder Americans are allergic to taxes when they are reminded all the time. Perhaps if the sales tax would be included to the advertised price (for persons, not businesses) then it certainly would be easier to handle.
Currently, local businesses are just asking (nicely) for customers who are paying in cash to use exact change. Here is a sign that I saw inside a grocery store nearby:
Exactly — “affecting our supply” means they cannot get rolls of pennies any longer from the banks.
Note, too, when there are retail taxes, there is always rounding. Say you have a state tax of 5.5%. If an item costs you exactly US $17.00, the tax added is $0.935, i.e. 93.5 cents, so you have to round down or up to $17.93 or $17.94. If you shop at Walmart, where half of their friggin inventory ends in $__.77 or 87 or 97, you can imagine the infinite number of possible fractions of a cent/penny…
Now, take the bicentennial year, 1976. According to this inflation calculator, $1 in 1976 had the same purchasing power as $5.71 in 2025. Since the penny back then had, therefore, more purchasing power than the nickel now, it means that rounding down or up was usually costing the consumer or state more than the purchasing power of a 2025 penny. Nobody noticed it, except perhaps mathematical geniuses and autistic children. Consumers just lost half a cent (= 2.5 cents in 2025) to the state or, likewise, just gained half a cent from the same…
FWIW, I asked this question in Google: In the USA who gets the rounding after the tax is added to an item?
Neither the customer nor the retailer definitively "gets" the rounding difference; the retailer acts as a collection agent for the government and must remit all sales tax collected. Rounding rules vary by state and local jurisdiction, and any minor discrepancies tend to average out over time.
How it works:
Sales Tax is a Consumer Tax: Sales tax is legally a tax on the consumer, which the business is required to collect at the point of sale and then pay to the state government. The money collected for tax is not the retailer's income.
Rounding Rules Vary: Each state or local tax authority sets its own rules for how to handle fractions of a cent.
Many jurisdictions require rounding to the nearest cent, with half a cent or more usually rounding up.
Some states may have specific rounding tables or methods, which a business's point-of-sale system is programmed to follow.
Averaging Out: Over many transactions, rounding up on some items and rounding down on others (depending on the tax rate and price) generally results in the effective tax rate being close to the stated rate. Any minor overages or shortfalls on individual transactions tend to balance out in the long run.
Remittance: At the end of a filing period, the business remits the actual amount of sales tax it collected from all customers to the state. If a business collected slightly more due to consistent rounding up, they must remit that full, higher amount to the state. The retailer is not allowed to profit from collecting excess tax; this is often illegal and referred to as "enrichment".
In essence, the rounding ensures transactions can be completed using standard currency (pennies), and the minor financial "gain" or "loss" on any single transaction is negligible and ultimately managed by the state's reporting requirements.
I underlined the point which really answers the question. So, different levels of government already know that rounding rules are necessary. They now need one with regard to the retailer/purchaser transaction, otherwise tens of thousands of dollars might be wasted in stupid lawsuits over a couple of pennies…
. . . or just pay with a credit card, check, or some other digital solution and the rounding becomes a complete non-issue. :-)
True, but while you don't notice it, if taxes have to be added to your purchase, there is rounding even if you pay by credit card.
I have started to use cash a lot more in the past three or four years. It's the best way to make sure cash remains relevant in the future. For me, too, an extra incentive is to keep track of all the Charles III circulating coinage since they were first release in 2023.
In the last few years before the Canadian cent went extinct, I was trying as much as possible to use them. Cashiers were OK with it since they had to break open new rolls all the time anyway.
An interesting point that I have not seen being discussed anywhere is what other countries that officially use the US dollar will do (Panama, El Salvador, Federated States of Micronesia, etc). What about Ecuador's 1-cent coins? I think they will have to implement some clear rules for everyone rather soon, and not wait for the US “circus in town” to come up with some agreeable rules in the coming years.
An interesting point that I have not seen being discussed anywhere is what other countries that officially use the US dollar will do (Panama, Ecuador, El Salvador, Federated States of Micronesia, etc). I think they will have to implement some clear rules for everyone rather soon, and not wait for the US “circus in town” to come up with some agreeable rules in the coming years.
Good point. I suspect that even if the US had their own rounding legislation, any other country would have to come up with their own.
Looking on the web about Panama, I see that they use American paper money but still issue their own coins at the same ratio as the American coins. Since 1 Panamean balboa = US $1, their 1 / 5 / 10 / 25 / 50(?) cents are equivalent to US coins of the same denominations. So, they can keep producing 1-cent coins even if the US stops doing so.
However, the bill never advanced. Now that our government just reopened (after a record setting 43-day shutdown), it would be nice to have some guidance at the federal level.
The real problem, of course, is that the discontinuation was done extra-legally (ok, illegally if we're not mincing words, but no one really has standing to take it to court I don't think) by executive order rather than by legislation. Legislation would've dealt with issues like rounding.
Just another example - though granted one of the more trivial and harmless ones - of the chaos from our descent into abject lawlessness in 2025.
The real problem, of course, is that the discontinuation was done extra-legally (ok, illegally if we're not mincing words, but no one really has standing to take it to court I don't think) by executive order rather than by legislation. Legislation would've dealt with issues like rounding.
Just another example - though granted one of the more trivial and harmless ones - of the chaos from our descent into abject lawlessness in 2025.
Actually, the Secretary of the Treasury has the full authority to suspend penny production. See the FAQ section of the U.S. Mint's website here: https://www.usmint.gov/news/media-kit/penny
(See point number #3 from the web link above).
Rounding (to the nearest nickel) is a separate issue. I don't have the answer to that one. Some decisions on rounding (to the nearest nickel) will most likely be left to the local states and businesses for cash purchases. But I would like to see some sort of legislation passed at the federal level to at least provide guidance. Canada did a much better job of this (than our current administration) when they stopped minting their penny back in 2012.
An interesting point that I have not seen being discussed anywhere is what other countries that officially use the US dollar will do (Panama, Ecuador, El Salvador, Federated States of Micronesia, etc). I think they will have to implement some clear rules for everyone rather soon, and not wait for the US “circus in town” to come up with some agreeable rules in the coming years.
Good point. I suspect that even if the US had their own rounding legislation, any other country would have to come up with their own.
Looking on the web about Panama, I see that they use American paper money but still issue their own coins at the same ratio as the American coins. Since 1 Panamean balboa = US $1, their 1 / 5 / 10 / 25 / 50(?) cents are equivalent to US coins of the same denominations. So, they can keep producing 1-cent coins even if the US stops doing so.
I had a look and , apart from Panama ,two other countries who use the US dollar , but issue their own coins are East Timor and Ecuador .
So those three should have no problem . I personally suspect that more of these countries will start issuing their own coins in order to prevent decisions of the mint , such as this one to affect their own coin supply .
The real problem, of course, is that the discontinuation was done extra-legally (ok, illegally if we're not mincing words, but no one really has standing to take it to court I don't think) by executive order rather than by legislation. Legislation would've dealt with issues like rounding.
Just another example - though granted one of the more trivial and harmless ones - of the chaos from our descent into abject lawlessness in 2025.
Actually, the Secretary of the Treasury has the full authority to suspend penny production. See the FAQ section of the U.S. Mint's website here: https://www.usmint.gov/news/media-kit/penny
(See point number #3 from the web link above).
Rounding (to the nearest nickel) is a separate issue. I don't have the answer to that one. Some decisions on rounding (to the nearest nickel) will most likely be left to the local states and businesses for cash purchases. But I would like to see some sort of legislation passed at the federal level to at least provide guidance. Canada did a much better job of this (than our current administration) when they stopped minting their penny back in 2012.
Sorry, I should have been clearer…..it was illegal because the legal determination used: Bessent’s decision to halt production followed a legal determination that the penny was “no longer necessary to meet the needs of the United States,” making him the first Treasury secretary to reach that conclusion.
was clearly false and made only to placate Trump.
The facts on the ground as to need have not changed from any of those other secretaries and - indeed- logically could only change AFTER (or in tandem with) legislation around change-making practices.
All of the signs going up on retailer doors this week about national penny shortages attest to the clear illegitimacy of the determination.
Anyway, as I noted it's not clear anyone can (or would if they could) challenge it so it's a moot point.
Sorry, I should have been clearer…..it was illegal because the legal determination used: Bessent’s decision to halt production followed a legal determination that the penny was “no longer necessary to meet the needs of the United States,” making him the first Treasury secretary to reach that conclusion.
was clearly false and made only to placate Trump.
I hear what you're saying, and I can appreciate the fact that you feel that political undertones were the cause. However, the U.S. penny has experienced negative seigniorage for the last 19 years. This means that it costs more to make the penny than what it's worth. Hence, the government stands to lose a whole lot of money by continuing to mint pennies as base metal prices only increase. The decision was one of simple math. I agree that it was very awkwardly handled. I also would have preferred for it to have been handled differently. But remember that Canada already went down this road 13 years ago and they came out just fine without any more pennies. :-)
H.R. 3761, introduced in 1989, suggested a rounding system whereby cash purchases would be rounded down to the nearest 5-cent price when the total transaction amount, including sales taxes, ended in 1,2,6, or 7 cents and rounded up when the total price amount ended in 3,4,8, or 9 cents. Prices of all items would continue to be priced in cents, and purchases paid by check, credit or debit cards, money order, or electronic fund transfers would be exempted from rounding.
Too bad the current administration didn't put much thought into their decision as was being discussed 36 years ago.
Sorry, I should have been clearer…..it was illegal because the legal determination used: Bessent’s decision to halt production followed a legal determination that the penny was “no longer necessary to meet the needs of the United States,” making him the first Treasury secretary to reach that conclusion.
was clearly false and made only to placate Trump.
I hear what you're saying, and I can appreciate the fact that you feel that political undertones were the cause. However, the U.S. penny has experienced negative seigniorage for the last 19 years. This means that it costs more to make the penny than what it's worth. Hence, the government stands to lose a whole lot of money by continuing to mint pennies as base metal prices only increase. The decision was one of simple math. I agree that it was very awkwardly handled. I also would have preferred for it to have been handled differently. But remember that Canada already went down this road 13 years ago and they came out just fine without any more pennies. :-)
Yeah, I have no problem with the decision itself - heck it was a constant topic of discussion in coin magazines when I first started collecting as a teenager back in the 1970s. I'm just not a fan of illegal abuses of power. Especially when combined with refusal to address the obvious consequences of the decisions itself. They had seven months to pass a bill first addressing rounding, it's a fairly non-partisan topic and even if it were partisan it's something they could have put in their reconciliation bill because of the budget effects.
As an aside I don't think the seignorage/simple math argument is particularly valid or relevant since minting coins is not a method of creating money (the Fed does that with electronic bits) but rather a logistical solution to a functional problem/need of society (making change).
Plus - why do you stop with the penny if that's the sole rationale?
One penny costs 3.7 cents to make, according to the latest 2024 U.S. Mint Annual Report. That is about 270% more than they are worth. ….. Nickels — the 5-cent coin featuring Thomas Jefferson — cost more than double their value to produce. It takes 13.8 cents to make just one coin, just under the cost of producing a quarter.
Yeah, I have no problem with the decision itself - heck it was a constant topic of discussion in coin magazines when I first started collecting as a teenager back in the 1970s. I'm just not a fan of illegal abuses of power. Especially when combined with refusal to address the obvious consequences of the decisions itself. They had seven months to pass a bill first addressing rounding, it's a fairly non-partisan topic and even if it were partisan it's something they could have put in their reconciliation bill because of the budget effects.
You're absolutely right that it should have been passed with bipartisan support. That would have been the adult way to handle it. But unfortunately that's not how our current administration operates. :-)
chaboard
As an aside I don't think the seignorage/simple math argument is particularly valid or relevant since minting coins is not a method of creating money (the Fed does that with electronic bits) but rather a logistical solution to a functional problem/need of society (making change).
There's nothing “virtual” about the rising cost of metals and the effects of negative seigniorage. I could provide a long list of supporting material. But I'm sure that you could google it and find it. Again, many countries have already eliminated the penny from their economies and if anything our country is extremely late to address it.
chaboard
Plus - why do you stop with the penny if that's the sole rationale?
Great point. For what it's worth, legislation has already been introduced to get rid of the nickel. But it hasn't advanced. I think everyone is waiting to see how everything pans out with eliminating the penny first. Also, I feel that past presidents (whether they were Democrat or Republican) simply didn't want to deal with it and instead decided to “kick the can down the road” in order to let another incoming administration deal with it.
and you can see how problematic it is for many retailers. I don't remember seeing any such signs in Canada when the penny was retired. Sure, there were many who complained before the change was to take place, including crackpot conspiracy theorists, but it went very very well once implemented. BTW the same had been true about the introduction of the dollar and two-dollar coins, in spite of the idiotic claim that we would have our pants drop on the ground as we walked because of the weight of the change in our pockets.
Every time a sensible government in a democratic society introduces such a measure, there are consultations with the industry and other focus groups. In the case of the penny, you don't need to worry about vending machines but only about the issue of rounding up/down and “educate” the public on this. An important sector to consult with is makers and programmers (if it's the right term) of cash registers.
Yeah, I actually saw the sign on the door of my regular grocery store begging to use exact change in the afternoon before I saw the news in the evening that it was Elimination Day. I took a picture but no need to upload it here when you just gave us so many examples.
What makes the lack of planning even worse is that the problems caused by the pervasive change shortages in the first couple months of Covid are still so recent.
On the plus side I suspect cash purchases are very a small minority in most establishments (maybe fast food excepted?) these days….
I took a picture but no need to upload it here when you just gave us so many examples.
I would very much like to see it if it's not too much trouble. If anyone else has any other such pictures from your local stores and doesn't mind to post them, that would be appreciated.
Sure! This is from just after noon on Wednesday at my usual grocery store in Cary, North Carolina. My apologies to the anonymous gentleman caught in the reflection….
How interesting. In Denmark I remember programming, all the programs in the biggest insurance firm in the queendom, to accept the falling away of the 1 & 2 oere coins. Boring! In the US it's the same, but just more boring, because you have so many more firms and programs. Consultants will get richer and that's it.
To me it's almost parody-like to see how much of a big deal this seems to be. In Sweden we have had coins of the denomination of 0.01. 0.02, 0.05, 0.10, 0.25, and 0.50 of a krona. Today we don't use the sub-denomination at all. No one complained, and nothing really happend. We still have prices like 75:25 and 199:95, since most payments are electronic (and therefore the exact ammount can be drawn). But paying cash you would pay 75:- and 200:- respectively. no biggy, really.
To me it's almost parody-like to see how much of a big deal this seems to be. In Sweden we have had coins of the denomination of 0.01. 0.02, 0.05, 0.10, 0.25, and 0.50 of a krona. Today we don't use the sub-denomination at all. No one complained, and nothing really happend. We still have prices like 75:25 and 199:95, since most payments are electronic (and therefore the exact ammount can be drawn). But paying cash you would pay 75:- and 200:- respectively. no biggy, really.
One of the main reasons why the demise of the penny didn't happen long time ago, as it should have, is lobbying by producers of zinc planchets —billions of them— for the Mint. Apologies for using AI for an easy answer, but I'm surprised how frank it is in naming two particular “culprits” (see my [!!] where this is the case). I also double-checked a few points before posting (see below). My question was: Did the zinc lobby intervene to stop the demise of the penny?
Yes, the zinc industry has actively intervened to stop the demise of the penny through lobbying efforts and by funding pro-penny groups. Jarden Zinc Products, a major producer of zinc "penny blanks," has hired lobbyists and funded organizations like Americans for Common Cents to argue for the penny's preservation. The industry's lobbying aims to protect its business, which benefits from the continued production of pennies.
Lobbying: Jarden Zinc Products has directly hired lobbyists to argue against eliminating the penny. [!!]
Pro-penny group: The company is a major sponsor of Americans for Common Cents, a non-profit lobbying group dedicated to preserving the penny.
Economic motive: The zinc industry has a vested interest in keeping the penny in circulation, as they are the primary manufacturer of the zinc blanks used to make them.
Examples: In 2012, Jarden Zinc paid Mark Weller, executive director of Americans for Common Cents, a significant sum to discuss penny-related issues with members of Congress and the U.S. Mint. [!!]
Artazn, formerly known as Jarden Zinc Products LLC: “The company is most notable for being the sole manufacturer of planchets used in the production of the United States penny” (Wikipedia).
Mark Weller's conflicting interests: Saving the penny makes cents for zinc-backed front group (Center for Public Integrity). This article unfortunately goes off in all directions (some quite interesting) before returning to the core issue, with a link to the ACC website at the bottom.
Now the fine print for the academically oriented (please skip if not your kind of thing):
If you happen to be studying American Politics at the graduate levels, the demise of the penny would be a fantastic topic for an MA or even a PhD thesis. Everything is in here: legal issues at federal and state levels; social issues (e.g. p.o.v. of small retailers); procedure, including lack thereof and authoritarianism; incompetence (appointment of lackeys, but you should use a less judgmental term…); lobbying. In short, this issue is a microcosm of the current state of affairs in American politics.
On top of it, most of the documentation / evidence is quite easy to obtain online. In addition, you would be combining your studies with your coin collecting hobby!
I enjoyed reading the article. I just wanted to point out that some American businesses do use a pricing model where the price reflected is already rounded AND already includes the tax built in. For example, some coin shops. I have visited coin shops in certain states where the prices are already rounded and the tax is already baked into the price shown. However, you see this more if you're visiting a state that is already "tax friendly" with regard to their state and local tax policies on precious metals. It's a real mess -- each state has its own tax rules for PM (precious metals) and they are sometimes overly complex.
However, I can see how such a pricing model (where the prices are already rounded AND the tax is already baked in) wouldn't work for a national chain store: like the article points out.
Well, it's not actually true that the cent costs more than it is worth, as some of the commenters have written.
I write this because the pre~zinc 1983 pennies, as of today, are worth 3.2305 cents.
That's melt value. Add the cost of making the raw ingot and the cost of rolling the ingot into thin sheet and the cost of die punching out the blanks and the cost of making the penny and the cost of distributing the penny….
Well, it's not actually true that the cent costs more than it is worth, as some of the commenters have written.
I write this because the pre~zinc 1983 pennies, as of today, are worth 3.2305 cents.
$100.00 face value in these cents are worth $323.05 in base metals (Copper & Zinc)
Check out the base metal coin calculator at: coinflation.com
PS: $100.00 face of ordinary nickels is worth $116.64.
I'm not sure I fully understand your point, but I think you need to take this into consideration:
When the US government puts the cents into circulation through the banks, it's at a value of 1 cent ($0.01). They don't sell them for their intrinsic value.
Even if there was a value of exactly 1 cent worth of metal in each coin, you have to take into account the costs of maintaining the Mint facilities, paying the employees, engraving the dies, buying the blanks, having the blanks shipped, striking the coins, shipping the finish product in rolls to the banks, security, etc.
EDIT — I see that rsirian1 also replied along the same lines. As a further thought, you may be aware that some people suggest to move to some sort of plastic penny. This, too, ignores the question of the “extra costs”, i.e. that it's not enough to reduce the intrinsic value of the coin (from metal to cheap alternative like plastic) to make it worth striking it. Plastic also brings with it a whole set of other problems. If you ask this in Google:
Do some people suggest to make US pennies out of plastic?
These conversations are helpful because it clearly shows that there really should have been an educational campaign created for the American public. If it's too hard for people to understand basic production costs, then let's take the math out of it altogether.
The U.S. penny was a casualty of inflation. After all, we already stopped minting the Half-Cent back in 1857 because inflation eroded its purchasing power down to the point that it was no longer useful. Unfortunately, none of us were alive back in 1857 to remember this.
Maybe just a coincidence but I went to the post office today to mail a letter and needed a 78 cent stamp. Paid in cash and got two pennies in change. Both 1961D and look to be uncirculated.
The easiest solution would be to turn the table. An item priced $0.99 could be priced $1.01 and when the customer can't provide the one cent asked for, it's easy to say: “It's on the house!”.
The problem with this, is that Americans add tax to the price shown, so the total is unlikely to be a round number.
The answer is already working in some of the Eurozone countries, Swedish rounding.
The items are priced as normal but the total spend is rounded up or down. If the total ends in 1, 2, 6 or 7 it is rounded down. 3, 4, 8 or 9 is rounded up.
The easiest solution would be to turn the table. An item priced $0.99 could be priced $1.01 and when the customer can't provide the one cent asked for, it's easy to say: “It's on the house!”.
The problem with this, is that Americans add tax to the price shown, so the total is unlikely to be a round number.
The answer is already working in some of the Eurozone countries, Swedish rounding.
The items are priced as normal but the total spend is rounded up or down. If the total ends in 1, 2, 6 or 7 it is rounded down. 3, 4, 8 or 9 is rounded up.
Someone has made for himself an Ω punch to provide fillers for those who'd like a pair (P and D) similar to those last Ω pennies. I think it's way too expensive at US$52.49 for what he himself calls a filler, even though he promises to limit it at a total of 50 sets. At least he is very clear in his description that this is just a copy of the real thing.
No doubt others will do the same since you just need an Ω punch and a roll from each mint. Of course, you need to place the countermark exactly where it is on the real thing. For collectors of countermarked coins, these fall in the category of fantasy countermarks. I wonder whether a Numista referee would accept a coin page for such an item?
Search: “2025 P & D Lincoln Penny Cent OMEGA Ω Counterstamp”.
EDIT — I should add that the real thing has an Ω in relief, not incused, so it's a rather poor substitute for $50+…
I remember when they demonetized the 1,2 and 5 kopiika coins in Ukraine and i dont really understand why its such a big deal in the US. Most people in Ukraine just stashed all of these low denomination coins in a jar or any container and never really used them, it was just for exact change in a big mall. When they finally demonetized them in 2020 nobody complained and now in 2025 were demonetizing the 10 kopiika coin because theyre so useless and small, and nobody is complaining… How come a few cents is causing so much trouble in the US? Although, in Ukraine they told the population to return the coins to a bank and get the higher denomination coins, but as im seeing that didnt happen in the US.
Also im very interested at why isnt the EU stopping the production of the 1,2 and maybe the 5 cent coin because nobody uses them, theyre bad at their only job of being currency and if i remember correctly theyre more expensive to make than their face value, so how come the US has already killed off the penny but the EU is still producing them? Im aware that a few countries like Belgium have already stopped making 1 and 2 cent coins for standart circulation and theyre only made for numismatists, but for some reason Germany, France and others still make these useless cents. Does anyone know why and when theyre going to stop making them?
I remember when they demonetized the 1,2 and 5 kopiika coins in Ukraine and i dont really understand why its such a big deal in the US. Most people in Ukraine just stashed all of these low denomination coins in a jar or any container and never really used them, it was just for exact change in a big mall. When they finally demonetized them in 2020 nobody complained and now in 2025 were demonetizing the 10 kopiika coin because theyre so useless and small, and nobody is complaining… How come a few cents is causing so much trouble in the US? Although, in Ukraine they told the population to return the coins to a bank and get the higher denomination coins, but as im seeing that didnt happen in the US.
Also im very interested at why isnt the EU stopping the production of the 1,2 and maybe the 5 cent coin because nobody uses them, theyre bad at their only job of being currency and if i remember correctly theyre more expensive to make than their face value, so how come the US has already killed off the penny but the EU is still producing them? Im aware that a few countries like Belgium have already stopped making 1 and 2 cent coins for standart circulation and theyre only made for numismatists, but for some reason Germany, France and others still make these useless cents. Does anyone know why and when theyre going to stop making them?
One of the reasons people in the US complain or voice their concerns is because there is no clear guidance of what to do for businesses or customers. Different states have different laws, and even local laws in some towns may be different. There is 0 guidance on a national level. Nobody thought it through or even was able to think it through.
In most countries it happened differently. For instance, in Ukraine, as your example, the National Bank of Ukraine had clear dates for stopping the production of low denomination coins, exact dates when they become obsolete, exact rules what to do with the obsolete coins if people wanted to exchange them, exact rules for the rounding methods. It was all written down, shared and is available for the public.
But in the US it is just a mess. Nobody knows what to do with pennies now, or in a year, what about 3 years? Do you still give exact change or round up/down? Should you expect the exact change as a customer? Can you still use pennies to pay, what about next year? Nobody can answer those questions clearly.
I remember when they demonetized the 1,2 and 5 kopiika coins in Ukraine and i dont really understand why its such a big deal in the US. Most people in Ukraine just stashed all of these low denomination coins in a jar or any container and never really used them, it was just for exact change in a big mall. When they finally demonetized them in 2020 nobody complained and now in 2025 were demonetizing the 10 kopiika coin because theyre so useless and small, and nobody is complaining… How come a few cents is causing so much trouble in the US? Although, in Ukraine they told the population to return the coins to a bank and get the higher denomination coins, but as im seeing that didnt happen in the US.
Also im very interested at why isnt the EU stopping the production of the 1,2 and maybe the 5 cent coin because nobody uses them, theyre bad at their only job of being currency and if i remember correctly theyre more expensive to make than their face value, so how come the US has already killed off the penny but the EU is still producing them? Im aware that a few countries like Belgium have already stopped making 1 and 2 cent coins for standart circulation and theyre only made for numismatists, but for some reason Germany, France and others still make these useless cents. Does anyone know why and when theyre going to stop making them?
One of the reasons people in the US complain or voice their concerns is because there is no clear guidance of what to do for businesses or customers. Different states have different laws, and even local laws in some towns may be different. There is 0 guidance on a national level. Nobody thought it through or even was able to think it through.
In most countries it happened differently. For instance, in Ukraine, as your example, the National Bank of Ukraine had clear dates for stopping the production of low denomination coins, exact dates when they become obsolete, exact rules what to do with the obsolete coins if people wanted to exchange them, exact rules for the rounding methods. It was all written down, shared and is available for the public.
But in the US it is just a mess. Nobody knows what to do with pennies now, or in a year, what about 3 years? Do you still give exact change or round up/down? Should you expect the exact change as a customer? Can you still use pennies to pay, what about next year? Nobody can answer those questions clearly.
Thats so odd… Genuinely why didnt the US think this through? They did this ceremony for the last cents minted but gave 0 details on whats going on with the cent outside of them not being minted anymore. I think that if they told people to return the cents to a local bank in exchange for higher denomination coins/banknotes to melt the pennies down for a profit, gave exact dates and etc. the penny shortage wouldve not happen at all or just be less of a problem. Although i have no idea what would the banks do when someone has 4 or less cents, do they round it up and give a nickel or just give nothing?
Theres like 0 reason not to go into detail at what consequences stopping the mintage of the cents would cause, although this might be related to the government shutdown, hence why its such a messy situation. But it brings up another question, why not halt the penny removal until the government is back up running and instead just stop making the pennies with 0 detail at whats going to happen next?
The US Government did think it through, 30 years ago and addressed all the issues. The current administration just couldn't be bothered to follow through in a reasonable, sane way. It's part of their “ready, fire and then aim” approach to governing. Usually though they forget the aim part.
The US Government did think it through, 30 years ago and addressed all the issues. The current administration just couldn't be bothered to follow through in a reasonable, sane way. It's part of their “ready, fire and then aim” approach to governing. Usually though they forget the aim part.
This document is quite detailed and covers a lot of the issues, but since it was created 30 years ago the prices here are a bit off due to inflation. Also i dont think the problem of not all 300 billion pennies coming back to the banks and the cost of giving the higher denomination currency to the public, since a nickel costs 14 cents to make now. Or im just blind and missed that part😭 Either way its baffling how the Trump administration ditched this document and decided to just straight up stop making the cents without any proper preparation or exact details, or anything in fact. But atleast you get a golden omega penny, thats something atleast
nutydy Either way its baffling how the Trump administration ditched this document and decided to just straight up stop making the cents without any proper preparation or exact details, or anything in fact.
That's what American democracy has degenerated into within less than a year - amateur hour 24/7. Regrettably. Just another reason not to turn on the TV.
This document is quite detailed and covers a lot of the issues, but since it was created 30 years ago the prices here are a bit off
Agree, it's outdated in the specifics but not in the scope. Obviously it should have been updated and laws where needed enacted before hand. In a functioning government it would have.
I remember when they demonetized the 1,2 and 5 kopiika coins in Ukraine and i dont really understand why its such a big deal in the US. Most people in Ukraine just stashed all of these low denomination coins in a jar or any container and never really used them, it was just for exact change in a big mall. When they finally demonetized them in 2020 nobody complained and now in 2025 were demonetizing the 10 kopiika coin because theyre so useless and small, and nobody is complaining… How come a few cents is causing so much trouble in the US? Although, in Ukraine they told the population to return the coins to a bank and get the higher denomination coins, but as im seeing that didnt happen in the US.
Also im very interested at why isnt the EU stopping the production of the 1,2 and maybe the 5 cent coin because nobody uses them, theyre bad at their only job of being currency and if i remember correctly theyre more expensive to make than their face value, so how come the US has already killed off the penny but the EU is still producing them? Im aware that a few countries like Belgium have already stopped making 1 and 2 cent coins for standart circulation and theyre only made for numismatists, but for some reason Germany, France and others still make these useless cents. Does anyone know why and when theyre going to stop making them?
One of the reasons people in the US complain or voice their concerns is because there is no clear guidance of what to do for businesses or customers. Different states have different laws, and even local laws in some towns may be different. There is 0 guidance on a national level. Nobody thought it through or even was able to think it through.
In most countries it happened differently. For instance, in Ukraine, as your example, the National Bank of Ukraine had clear dates for stopping the production of low denomination coins, exact dates when they become obsolete, exact rules what to do with the obsolete coins if people wanted to exchange them, exact rules for the rounding methods. It was all written down, shared and is available for the public.
But in the US it is just a mess. Nobody knows what to do with pennies now, or in a year, what about 3 years? Do you still give exact change or round up/down? Should you expect the exact change as a customer? Can you still use pennies to pay, what about next year? Nobody can answer those questions clearly.
Thats so odd… Genuinely why didnt the US think this through? They did this ceremony for the last cents minted but gave 0 details on whats going on with the cent outside of them not being minted anymore. I think that if they told people to return the cents to a local bank in exchange for higher denomination coins/banknotes to melt the pennies down for a profit, gave exact dates and etc. the penny shortage wouldve not happen at all or just be less of a problem. Although i have no idea what would the banks do when someone has 4 or less cents, do they round it up and give a nickel or just give nothing?
Theres like 0 reason not to go into detail at what consequences stopping the mintage of the cents would cause, although this might be related to the government shutdown, hence why its such a messy situation. But it brings up another question, why not halt the penny removal until the government is back up running and instead just stop making the pennies with 0 detail at whats going to happen next?
It is not because of the government shutdown. It is because of another reason, but Numista does not like politics in the forum discussions.
But at least now you understand why people in the US are complaining about it more than in other countries.
I remember when they demonetized the 1,2 and 5 kopiika coins in Ukraine and i dont really understand why its such a big deal in the US. Most people in Ukraine just stashed all of these low denomination coins in a jar or any container and never really used them, it was just for exact change in a big mall. When they finally demonetized them in 2020 nobody complained and now in 2025 were demonetizing the 10 kopiika coin because theyre so useless and small, and nobody is complaining… How come a few cents is causing so much trouble in the US? Although, in Ukraine they told the population to return the coins to a bank and get the higher denomination coins, but as im seeing that didnt happen in the US.
Also im very interested at why isnt the EU stopping the production of the 1,2 and maybe the 5 cent coin because nobody uses them, theyre bad at their only job of being currency and if i remember correctly theyre more expensive to make than their face value, so how come the US has already killed off the penny but the EU is still producing them? Im aware that a few countries like Belgium have already stopped making 1 and 2 cent coins for standart circulation and theyre only made for numismatists, but for some reason Germany, France and others still make these useless cents. Does anyone know why and when theyre going to stop making them?
One of the reasons people in the US complain or voice their concerns is because there is no clear guidance of what to do for businesses or customers. Different states have different laws, and even local laws in some towns may be different. There is 0 guidance on a national level. Nobody thought it through or even was able to think it through.
In most countries it happened differently. For instance, in Ukraine, as your example, the National Bank of Ukraine had clear dates for stopping the production of low denomination coins, exact dates when they become obsolete, exact rules what to do with the obsolete coins if people wanted to exchange them, exact rules for the rounding methods. It was all written down, shared and is available for the public.
But in the US it is just a mess. Nobody knows what to do with pennies now, or in a year, what about 3 years? Do you still give exact change or round up/down? Should you expect the exact change as a customer? Can you still use pennies to pay, what about next year? Nobody can answer those questions clearly.
Thats so odd… Genuinely why didnt the US think this through? They did this ceremony for the last cents minted but gave 0 details on whats going on with the cent outside of them not being minted anymore. I think that if they told people to return the cents to a local bank in exchange for higher denomination coins/banknotes to melt the pennies down for a profit, gave exact dates and etc. the penny shortage wouldve not happen at all or just be less of a problem. Although i have no idea what would the banks do when someone has 4 or less cents, do they round it up and give a nickel or just give nothing?
Theres like 0 reason not to go into detail at what consequences stopping the mintage of the cents would cause, although this might be related to the government shutdown, hence why its such a messy situation. But it brings up another question, why not halt the penny removal until the government is back up running and instead just stop making the pennies with 0 detail at whats going to happen next?
It is not because of the government shutdown. It is because of another reason, but Numista does not like politics in the forum discussions.
But at least now you understand why people in the US are complaining about it more than in other countries.
Now i do understand why people in the US complain more. Also now i understand that youll get publicly beheaded for talking about politics😄
Not sure all the hand-wringing over the stop of making new pennies. They made over 3.2 Billion in 2024 alone, not to mention the amount minted in the last 60+ years (assuming every single wheat penny is hoarded). Retailers will round off to the nearest nickle. That's what they do in Canada, and the number of places not taking pennies just gradually increased over the span of a year.
… How come a few cents is causing so much trouble in the US?
But is it though? I haven't run into anybody that's upset or cares or sometimes even knows. Merchants are still giving the exact change or rounding the change up as they've been doing for 15 years or more. Other than forums like this I think the US public has more of a ho-hum response.
Collectors seem to be the most bothered by it. I have a penny collection by year for wheat, memorial and shield and every one from my pocket change. I'm disappointed I probably won't be able to complete it that way but troubled or angry? No.
… How come a few cents is causing so much trouble in the US?
But is it though? I haven't run into anybody that's upset or cares or sometimes even knows. Merchants are still giving the exact change or rounding the change up as they've been doing for 15 years or more. Other than forums like this I think the US public has more of a ho-hum response.
Collectors seem to be the most bothered by it. I have a penny collection by year for wheat, memorial and shield and every one from my pocket change. I'm disappointed I probably won't be able to complete it that way but troubled or angry? No.
