What to know about the U.S. penny phase out

What to know about the U.S. penny phase-out and cash rounding

The penny is being phased out, and that change could affect how you pay with cash.

Here’s what’s changing, how cash transactions may be rounded, and what you can do with the pennies you already have.

At Numerica, we’re taking thoughtful steps to manage our coin inventory so we can continue supporting members and local businesses as smoothly as possible.

Why the penny is being phased out

The penny has been part of everyday life for generations, but over time it’s become more costly and less practical to use. According to the U.S. Mint, each penny costs about 4 cents to produce, and fewer pennies are regularly circulating back through the economy.

For most people, the impact will be small, but understanding the change can help make everyday cash transactions feel more predictable. 

Penny availability at Numerica

To help ensure fair access across all branches, we’ve put limits in place for penny orders:

• Business members: Up to $100 in pennies per week
• Individual (non-business) members: Up to $25 in pennies per week
• Penny orders are limited to one order per week per member

There are no limits on other coin denominations, and everyday services will continue as usual. 

What this means when paying with cash

As pennies become less common, some retailers may begin rounding cash transactions to the nearest five cents. This practice is already in place at certain retailers who have chosen to round cash transactions when pennies are not available.

This is commonly referred to as cash rounding. 

Here’s what to know:

• Rounding applies only to cash payments, not debit or credit card transactions.
• You may notice retailers request that cash-paying customers pay with exact change and/or implement a penny rounding policy.
• Depending on the individual retailer’s penny rounding policy, transactions may round up or down, depending on the total.  
  • For example, when paying in cash at a retailer with a round up policy, if your purchase total comes to $10.03, the amount owed may be rounded up to $10.05.  
• Prices themselves are not changing; only the final cash total may be adjusted.

As more retailers adopt rounding policies, being aware of how cash totals may adjust can help you feel confident and prepared when paying with cash.  

As pennies become less common, some states are beginning to set clear rules for how cash totals should be rounded.

What to do with pennies you already have

If you’ve been saving pennies in a piggy bank, jar, or drawer, here are a few recommendations:

• Use pennies for small purchases as usual
• Roll coins and exchange them at a branch
• Deposit coins into your checking or savings account

Prefer help in person? Visit a Numerica branch to deposit your coins or talk with a team member.

As pennies become less available, depositing or using what you already have can be a simple way to avoid holding onto coins you may not use in the future. 

Have questions about your accounts or cash deposits? Connect with a Numerica team member.

Our commitment to members

We’re actively monitoring developments and evaluating how the penny phase out may impact our members. We’ll continue sharing updates as more information becomes available. As the way we use money evolves, we’ll keep you informed and ready for what’s next. Life moves. Live well.

We’re here to help you navigate these changes and manage your money with confidence.

Updated April 2026

Written by the Numerica Financial Engagement Team

This update is part of Numerica’s ongoing commitment to financial education and member support.