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Penny's Last Stand: US Faces Change Without Coins
3 Jan
Summary
- US Mint struck the last pennies in November 2025.
- Retailers are implementing rounding policies due to shortages.
- The Common Cents Act aims to standardize rounding to the nearest nickel.
As the US Mint produced its last pennies in November 2025, a national law guiding their phase-out remains absent. This has compelled many retailers to implement their own policies, with some displaying signs that explain they are unable to provide pennies for change. Customers paying in cash are advised that their totals may be rounded up or down to the nearest nickel or dime, with policies varying by location and bank availability.
This absence of federal guidance has led to a patchwork of strategies, from rounding transactions to rationing remaining pennies. The National Retail Federation highlights potential customer confusion due to differing policies across businesses. To address this, the Common Cents Act was introduced, proposing a federal standard for rounding cash transactions to the nearest nickel, mirroring Canada's successful phase-out.
The Common Cents Act faced legislative hurdles in 2025, but lobbying efforts continue for its adoption in 2026. Retailers also face challenges aligning rounding practices with state and city laws requiring cash acceptance, as well as federal rules for SNAP benefit recipients. Standardization is crucial to avoid conflicts and ensure a smooth transition away from the penny.
