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Banks and Retailers Run Short on Pennies as the US Mint Stops Making Them
- On Oct. 17, retailers including Kroger and Home Depot reported penny shortages after the U.S. Mint stopped production in August following President Donald Trump's directive.
- The Mint's cost data showed the penny cost 3.7 cents to produce, prompting the U.S. Treasury Department to place its last order of blanks in May following President Donald Trump's Feb. 9 directive to stop minting pennies.
- About 250 billion pennies circulate, yet the American Bankers Association says one-third of about 165 Federal Reserve coin terminal facilities stopped penny transactions, creating critical distribution choke points, Bill Maurer said.
- Kwik Trip has started rounding cash purchases to the nearest five cents, and trade groups including RILA have urged U.S. Congress to pass a national rounding law since at least 10 states prohibit it.
- The U.S. Treasury expects to save $56 million by ending penny production, while the Mint's 2024 seigniorage was $182 million, and retailers warn the shortage could cost businesses millions and affect low-income customers.
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173 Articles
173 Articles
Tulsa WorldReposted by 
North Platte Nebraska's Newspaper
North Platte Nebraska's NewspaperBanks, retailers run short on pennies
NEW YORK — The United States is running out of pennies.
·Tulsa, United States
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Penny shortage across the US has retailers, banks struggling
Banks and businesses across the nation are struggling to find pennies. Since President Trump scrapped production earlier this year, retailers and banks are scrambling for loose change. Now, they're taking whatever steps they can to manage the shortage. What steps are stores taking? Giant Eagle grocery stores in Pennsylvania are offering double-value gift cards for pennies this weekend. At Sheetz, a hundred pennies gets you a free soda. Banks say…
The United States is running out of one-cent coins following an order from President Donald Trump.
Syracuse NYReposted by 
Penn Live
Penn LiveBanks, retailers running out of pennies as US Mint stops making them
One store chain offered free soda to customers who bring in pennies.
·Syracuse, United States
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Total News Sources173
Leaning Left25Leaning Right7Center125Last UpdatedBias Distribution80% Center
Bias Distribution
- 80% of the sources are Center
80% Center
L 16%
C 80%
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