All articles tagged with #pennies
As pennies are phased out in the U.S., states are considering or implementing policies for rounding cash transactions to the nearest five cents, raising legal and consumer protection questions, with some advocating for federal guidance to ensure fairness and consistency.
The US government stopped minting pennies in 2025 due to high production costs, leading to a surge in public interest and speculative buying of new pennies, which experts warn is driven by scams and hype rather than genuine value, as the coins are produced in large quantities and are not rare.
The last U.S. pennies ever produced were sold at auction for a total of $16.76 million, with the final set fetching $800,000, marking the end of an era in American coinage and sparking significant interest among collectors.
The US Mint in Philadelphia has ceased production of the penny, citing cost inefficiencies and the coin's decreasing relevance, with the final coins struck and auctioned off, marking the end of a 200-year tradition despite nostalgic and practical concerns.
The US Mint in Philadelphia has ceased production of the penny to save costs and due to its decreasing relevance, with the final coins struck and auctioned off. While still legal tender, pennies are no longer being made, marking the end of a coin that has been part of American history since 1793, despite some nostalgia and concerns from retailers and collectors.
The US is ending penny production after over 230 years to save approximately $56 million annually, as the coins now cost more to produce than their face value and are increasingly obsolete due to electronic transactions. The coins will remain in circulation, but businesses are already adjusting prices, and the move is part of a broader trend of phasing out low-value coins in other countries.
The US Mint has stopped producing pennies, leading to a coin shortage that is affecting cash transactions in stores, complicating legal and operational issues, especially around SNAP benefits, with retailers seeking guidance from the government on handling exact change and rounding policies.
US retailers are facing a shortage of pennies after the US Mint stopped producing them, leading to rounding cash transactions to the nearest five cents and causing financial and logistical challenges for businesses, especially those dealing with cash payments and lower-income customers.
McDonald's is updating its cash payment system in response to the U.S. Treasury's discontinuation of pennies, implementing rounding to the nearest 5 cents for cash transactions at some locations, while card payments remain unaffected.
The U.S. has stopped minting pennies, leading to shortages that are affecting retailers and banks, causing logistical challenges, legal issues, and financial losses, with calls for government guidance on managing the situation.
The US Mint has stopped producing pennies, leading to shortages in banks and retailers, causing logistical issues, increased costs, and legal complications, with calls for federal guidance on managing the situation.
The US Treasury's decision to stop minting pennies by 2026 is causing grocery stores like Kroger and Kwik Trip to adjust, with some rounding cash transactions to the nearest five cents, potentially increasing costs for consumers and raising legal and logistical questions. The move aims to save costs but may lead to changes in pricing and payment practices, especially for cash transactions, affecting consumers and businesses alike.
A family in California found over 1 million copper pennies worth around $10,000 in an old home they were renovating. The pennies were stashed in dozens of bank bags and were discovered in a cramped crawlspace. The family has been trying to sell the hoard on OfferUp for $25,000, but potential buyers would need to pick them up. Despite receiving piecemeal offers, no one has yet tried to buy the full stash.
A local realtor and his wife found 1 million pennies in her father's old Los Angeles home while cleaning out a crawl space in the basement last year and getting the house ready for a renovation. The coins have been listed for sale on OfferUp for $25,000, more than double its $10,000 value.
A family cleaning out a home in Los Angeles discovered at least 1 million copper pennies in a crawlspace in the basement. The pennies were found in dozens of bank bags and were confirmed to be pre-1982. After struggling to find a bank that would take that many pennies, the family listed them on OfferUp for $25,000. They have received piecemeal offers but have not found a buyer willing to take all the pennies off their hands.