It’s true, the US isn’t making any more pennies. They’ll still be around for a while as there are about 250 billion pennies out there and they’re still legal tender. It’s likely circulation will slow over time until you don’t see them at stores anymore. Credit card transactions won’t be impacted, but cash transaction will need to be rounded to the nickel. It’s not exactly clear how that will happen as some state and local laws prohibit it.

For me, I say we get rid of the nickel and dime too, and pass a national law that cash transactions will need to be rounded to the nearest quarter. Back in 1857 when the half cent was discontinued, it had the buying power of about 19 cents today! But it was discontinued because of the low purchasing power and high cost to mint (true of nickels and dimes too!)

So say goodbye to Honest Abe. How does this impact YOU? Probably not much, aside from nostalgic value. But if you find a store that sells something for 2 cents and rounds to the nearest nickel, you may have just unlocked the infinite free stuff glitch if you buy them one at a time. Good luck.

As always, reminding you to build wealth by following the two PFC rules: 1.) Live below your means and 2.) Invest early and often.

-Jeremy

---------------------------

By: Gabriela Gonzalez
Title: RIP Penny: What Happens When Cash Gets Rounded?
Sourced From: personalfinanceclub.com/rip-penny-what-happens-when-cash-gets-rounded/
Published Date: Tue, 18 Nov 2025 20:51:47 +0000

Read More