The End Is in Sight for the Penny as Retailers Find Themselves Short

The end is in sight for the penny as retailers find themselves short

We may be seeing the beginning of the end for the penny.Local shortages are showing up in pockets of the country, but most Americans haven't felt it yet."Most transactions today are digital, but the people who tend to use cash and rely on cash will definitely feel the penny shortage before the rest of us experience it, if at all," said Deidre Popovich, associate professor of marketing at Texas Tech University.Without pennies, businesses will hav…

End of penny production causes cash shortages at retailers

NATIONWIDE – The official end of U.S. penny production, ordered by President Donald Trump due to the coin costing more to make than its face value (3.69 cents), is already causing localized currency shortages for retailers across the country. The U.S. Mint reportedly produced its last pennies in August, following the Treasury Department’s final order for blanks in May. This abrupt discontinuation has led to immediate operational issues for busi…