"President Donald Trump's decision to stop producing the penny earlier this year is starting to have real implications for the nation's commerce. Merchants in multiple regions of the country have run out of pennies and are unable to produce exact change. Meanwhile, banks are unable to order fresh pennies and are rationing pennies for their customers. One convenience store chain, Sheetz, got so desperate for pennies that it briefly ran a promotion offering a free soda to customers who bring in 100 pennies."
"Trump announced on Feb. 9 that the U.S. would no longer mint pennies, citing the high costs. Both the penny and the nickel have been more expensive to produce than they are worth for several years, despite efforts by the U.S. Mint to reduce costs. The Mint spent 3.7 cents to make a penny in 2024, according to its most recent annual report, and it spends 13.8 cents to make a nickel."
The U.S. is experiencing a growing shortage of pennies after the decision to stop producing them. Retailers across multiple regions have run out of pennies and cannot provide exact change, while banks cannot order new supplies and are rationing coins for customers. Some stores have offered promotions to collect pennies, and at least one retailer expects millions in losses from forced rounding. Both pennies and nickels cost more to mint than their face value, with the Mint spending 3.7 cents per penny and 13.8 cents per nickel in 2024. Lack of federal guidance has left merchants pleading for exact change.
Read at ABC7 Los Angeles
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