What Does the End of the Penny Mean?
You’ve probably heard the news — the U.S. is phasing out the penny. But what does that really mean for you?Why is the penny going away?
Pennies actually cost more to make than they’re worth — about 3.7 cents per coin. With fewer people using cash and more relying on cards or mobile payments, the U.S. Treasury has decided it’s time to stop making them. The last batch of penny blanks was ordered back in May 2025.What happens next?
Ending penny production could save around $56 million a year in materials. Some prices may start rounding to the nearest five cents, but it’s too soon to know how big the impact will be. Other coins like nickels and quarters will stay in circulation for now, though nickels also cost more to produce than they’re worth.
What should you do with your pennies?
Your pennies won’t suddenly become valuable collectibles — they’ll still be worth one cent each. If you have jars of them lying around, bring them in to be counted. You’ll get the full cash value, which you can deposit or take out in cash.
Pennies aren’t disappearing overnight, but their days are numbered.
Now’s a great time to turn your spare change into spending cash — stop by a branch with a Coin Counter and make every cent count!