The FAQs state, “Retailers should continue accepting pennies and providing penny change for cash transactions” and “businesses may round the final amount of a cash transaction to the nearest five-cent increment” when penny change isn’t available. See: https://home.treasury.gov/news/featured-stories/penny-production-cessation-faqs

House Financial Services Committee Ranking Member Maxine Waters (D-CA) and Senate Banking Committee Ranking Member Elizabeth Warren (D-MA) send a letter to the Treasury Department, the Mint, and the Federal Reserve regarding insufficient information that the government had provided to the public about the impacts of penny production cessation.https://www.banking.senate.gov/imo/media/doc/warren_waters_letter_to_treasury_mint_fed_re_penny.pdf and here https://www.banking.senate.gov/newsroom/minority/ranking-members-elizabeth-warren-and-maxine-waters-urge-federal-agencies-to-provide-immediate-guidance-to-address-the-national-penny-shortage-caused-by-the-trump-administrations-abrupt-end-to-penny-production

November 12 — The United States Mint hosted a ceremonial strike at its Philadelphia Mint, where Brandon Beach, Treasurer of the United States, struck the final circulating one-cent coin. The event marked the official end of the penny’s 232-year production run as a circulating coin. In February 2025, Donald Trump directed Treasury Secretary Scott Bessent Read more about U.S. Mint Strikes Final Circulating Penny, Ending 232-Year Run[…]

The United States Mint hosted a ceremonial strike at its Philadelphia Mint, where Brandon Beach, Treasurer of the United States, struck the final circulating one-cent coin. The event marked the official end of the penny’s 232-year production run as a circulating coin.https://www.usmint.gov/news/press-releases/united-states-mint-hosts-historic-ceremonial-strike-for-final-production-of-the-circulating-one-cent-coin

The current penny shortage and lack of guidance from the federal government have left retailers and other cash-accepting businesses uncertain on how to handle cash transactions where pennies are unavailable. The National Retail Federation (NRF) and National Association of Convenience Stores (NACS) as part of a coalition of trade associations representing thousands of businesses across Read more about Penny Shortage Creating Business Uncertainty[…]

Why a Smart Review Won’t Cost Taxpayers More or Harm the Economy A January 21, 2025, DOGE post claimed that the penny cost taxpayers $179 million in FY 2023. While this claim is not accurate per US Mint annual reports, DOGE is right to consider ways to improve the cost and efficiency of US currency. Read more about The US Penny – Rethinking US Coin Strategy[…]

Pennies cost more to make than they are worth, and often accumulate unused. But would eliminating them cause prices to get rounded up?

By Steven T. Dennis / February 10, 2025 04:49PM ET / Bloomberg Government President Donald Trump’s order Sunday night to stop minting billions of pennies annually potentially comes with some unexpected costs. The penny, a staple of US currency since since 1793, costs more than 3 cents to make, costing the government a net loss of $85 million, per the Read more about Trump Plan to Kill Penny Comes With Twist: It May Not Save Much[…]

The Mint Actually Loses Money Without the One-Cent Coin Eliminating the penny won’t save the government money. In fact, such a move would have a significant negative impact on the U.S. Mint’s cost structure. Many overhead expenses at the Mint would remain and would need to be absorbed by other coins, increasing their per-unit costs. Read more about The Government Won’t Save Money by Eliminating the Penny — Here’s Why[…]

DOGE’s suggestion to eliminate the penny as a cost-saving measure is fundamentally flawed. In reality, removing the penny would increase government losses, not reduce them. “The government won’t save money if the penny is eliminated,” said Americans for Common Cents Executive Director Mark Weller. “Such a change would have a massive negative impact on the Read more about DOGE Misses the Mark on Penny Post[…]