by Deepak Sawant 
WASHINGTON D.C. — It’s the end of an era for a tiny coin that’s lived in our pockets, fallen under our car seats, and rested for decades in dusty jars across America
What to Do with Pennies: Smart Uses for the Coins After Minting Ends The penny, officially worth one cent, is on its way out.
In a decision that’s been quietly building for years, the federal government made its final order for penny-production materials this past Thursday — a move that effectively halts the minting of new pennies by early 2026. The announcement, confirmed by Treasury officials and discussed widely across media outlets, is the clearest sign yet that America is preparing to say goodbye to its lowest-value coin.
At the center of the change: former President Donald Trump, who has taken a vocal stance in favor of retiring the penny, a move that has drawn bipartisan support and sparked intense national debate.
“We’re getting rid of a coin that costs more to make than it’s worth,” Trump reportedly told aides earlier this year. “It’s common sense. It’s economics. It’s time.”
But not everyone is ready to let go.
A Costly Coin
The argument for eliminating the penny has been building for decades. While it may only be worth a cent, each penny costs nearly four cents to manufacture due to the price of zinc, copper, and production.
The U.S. Mint has been producing billions of pennies every year, at a financial loss. According to the latest government report, the penny costs the country over $160 million annually in production losses.
That’s taxpayer money, critics say, being spent on a coin many people don’t even use.
“We’re living in a digital economy now,” said Jared Halpern of Fox News during a live broadcast this week. “People use debit cards, credit cards, apps — even for small purchases like coffee or parking meters. The penny just doesn’t serve a real purpose anymore.”
Indeed, recent studies show that cash payments now make up less than 20% of transactions in the U.S., and among those, pennies are rarely circulated — often tossed in drawers, left on counters, or simply discarded.
What’s Next for the Penny?
While the final batch of materials has been ordered, the U.S. Mint will officially stop producing new pennies in early 2026. That doesn’t mean pennies will vanish overnight — existing coins will remain legal tender, and businesses can still accept them.
But in practice, the supply will slowly dry up, and by late 2026 or 2027, many expect the penny to be largely phased out of circulation.
This change will also have a ripple effect on how prices work — especially for cash transactions.
Rounding: How Prices Will Change
With no penny, retailers will no longer be able to charge prices like $4.99 or $2.03 in exact change during cash payments. Instead, most businesses will begin rounding totals up or down to the nearest five cents.
In theory, rounding is supposed to balance out over time — sometimes you pay a little more, sometimes a little less. But consumer advocacy groups warn that most prices will round up, especially in high-volume transactions, meaning many Americans will end up paying slightly more.
“It doesn’t seem like much,” said Sarah Mendez, a consumer economist. “But over time, a few extra cents on every purchase adds up — especially for people who rely on cash or live paycheck to paycheck.”
One proposed policy would require “rounding fairness” laws, mandating retailers to round down on alternating purchases or offer digital discounts. But so far, no such legislation has been passed.
Business Owners Push Back
Not everyone supports the penny’s demise. Some small business owners — especially those operating cash-heavy businesses like laundromats, diners, and convenience stores — are voicing frustration.
“This might not seem like a big deal in Washington, but it hits people like us,” said Louie Garcia, owner of a coin-operated laundromat in Albuquerque. “Our pricing is built around coin denominations. Removing the penny means restructuring how we operate.”
Others worry about customer confusion, pricing complaints, or technical updates needed for vending machines and kiosks.
A few small business associations are reportedly considering legal action, while others have called for meetings with lawmakers and even public figures like Elon Musk, hoping for a last-minute solution or transitional funding.
The Politics Behind the Penny
While former President Trump has become the face of the anti-penny push, the movement is not new, and it’s not partisan.
Lawmakers from both sides of the aisle have introduced at least two bills this year aimed at permanently ending penny production. Neither has come up for a vote yet, but momentum is building.
“This is something both Republicans and Democrats can agree on — saving money, modernizing the economy, and simplifying transactions,” said Rep. Carla Jennings (D-MA), one of the sponsors.
Supporters also note that Canada, Australia, and New Zealand have all eliminated their lowest coin denominations in recent years — with little public outcry or inflationary impact.
Sentimental Value: Why Some Still Care
For all the economic arguments, the penny still holds a special place in American culture.
“I know it’s not worth much,” said Marsha Taylor, 67, from Richmond, Virginia. “But I’ve been collecting pennies since I was a kid. Lincoln’s face. The wheat on the back. It just feels like history.”
Some also worry that removing the penny means erasing the idea that even the smallest value matters.
“There’s something symbolic about the penny,” said Dr. Harold Meyers, a historian at the University of Michigan. “It says every cent counts. Every effort matters. Eliminating it might send the wrong message — especially in a country where wealth gaps are growing.”
Public Opinion: Mixed Feelings
According to a recent Pew Research survey:
- 48% of Americans support retiring the penny
- 33% oppose
- 19% are undecided
Younger adults are more likely to support the change, while older Americans — especially those who use cash more often — tend to oppose it.
“I get it,” said 28-year-old barista Kevin Wu. “I don’t carry change. I tap my card. Pennies just slow things down.”
But for others, like 73-year-old Donald Matthews from St. Louis, “Getting rid of the penny feels like saying goodbye to part of my childhood.”
What About Nickels and Dimes?
If the penny costs more to make than it’s worth, what about the nickel, which costs around 10.4 cents to produce?
It’s a valid question — and some lawmakers are already raising it.
“Once we retire the penny, we need to look seriously at the nickel,” said Sen. Mark Reynolds (R-TX). “This isn’t just about coins. It’s about smart spending and modernization.”
Still, most experts believe the nickel will stick around — at least for now. The focus remains on the penny, seen as the least used and most inefficient coin in modern U.S. currency.
A Cashless Future?
The penny debate is part of a larger conversation about where money is headed.
As more Americans embrace digital payments, the role of physical cash is shrinking. Apps like Apple Pay, Venmo, Zelle, and tap-to-pay cards are becoming the norm — even at food trucks, farmer’s markets, and bus stations.
That raises new questions about:
- Financial inclusion: What about people without bank accounts or smartphones?
- Privacy: Can digital transactions be tracked?
- Security: Are cashless systems safe from hacking?
“We need to make sure no one gets left behind,” said Lisa Nguyen, director at the Financial Fairness Coalition. “Getting rid of coins might seem small, but it’s a big part of a larger change.”
Saying Goodbye
Back in suburban Illinois, 10-year-old Jamal Thomas clutches a handful of pennies he found in his grandmother’s old mason jar. He doesn’t know they might one day be collector’s items. He just likes the way they feel.
“I’m going to keep these,” he says proudly. “They’re cool.”
Whether you view the penny as a nostalgic relic or an economic burden, one thing is clear: Its time is running out.
By 2026, the United States may finally say farewell to a coin that has stuck with us since 1793. One cent may no longer be worth what it once was — but it leaves behind a legacy far bigger than its size.
What Happens Now?
- Pennies will remain legal tender even after production ends
- No new pennies will be minted after early 2026
- Cash transactions will round to the nearest 5 cents
- Digital payments won’t be affected
So if you have a jar full of pennies, don’t toss them just yet. You can still spend them — or better yet, hold onto a piece of history.
