Penny shortage crisis!

[rginn]

Just wanting to see what's up with the rest of the country. Seeing signs here sayin if you pay with cash consider exact change, due to blah, blah, blah. The registers where I work are rounding down now. So if the total is $1.24 and I put in $2 cash it rounds it down to $1.20. (Rounding up is coming.) Play it right and you could make a little change I guess. Lotta work, but I saved 15 cents last week, and a penny saved is a penny earned as the sayin goes. Federal Reserve says there are 114 billion pennies in circulation, but I imagine most of them are sitting in jars in our bedrooms. (Guilty.) Just wondering what you guys are seeing.

 

[vpnavy]

Just wanting to see what's up with the rest of the country. Seeing signs here sayin if you pay with cash consider exact change, due to blah, blah, blah. The registers where I work are rounding down now. So if the total is $1.24 and I put in $2 cash it rounds it down to $1.20. (Rounding up is coming.) Play it right and you could make a little change I guess. Lotta work, but I saved 15 cents last week, and a penny saved is a penny earned as the sayin goes. Federal Reserve says there are 114 billion pennies in circulation, but I imagine most of them are sitting in jars in our bedrooms. (Guilty.) Just wondering what you guys are seeing.

I searched Google and found...

"...The US Mint officially stopped making pennies in May. The Treasury Department estimated shortages..."

Businesses are running out of pennies in the US

Why is there a shortage of pennies?​

 

[Chilli]

We got rid of 1 and 2 cent pieces yrs ago. Everything is rounded down or up 92c will be 90c, 93c will be 95c. Still things are advertised just 1 cent below a dollar at 99 cents. Its dumb. Small chocolate bar $1.99. You give them $2 and get no change.

 

[ToddsPoint]

I’ve been a penny hoarder for a long time. Not on purpose. Toss the pennies in a jar and forget about them. In the late 70s before the zinc pennies, I put all I had in rolls. I have around 6,000 pre-82. Will they be used in the future as “hard times” money? Hard to say. Large cents went extinct in 1857. They still have value today.
I think I’ll hang onto mine.

 

[mrwiskers]

I think I’ll hang onto mine.

...makes good cents to me...

 

[xr7ator]

I get 1.5% to 5% on every purchase I make with my cash back credit card. No extra effort needed. My Sept bill was over 4k with insurance payments and the dentist(ugh), so I applied my accumulated cash rebate of $874 and change to make it hurt a little le$$.
Paying with cash is very uncommon for me nowdays so no worries on the pennies for me.
I did go to the bank recently and they had signs up about the shortage as well.
Government should offer up a buyout for all penny hoarders of 2 to 3 cents each. They'll have more pennies than they could count!

 

[wainzoid]

Giant Eagle supermarkets just did a pennies exchange where they paid 2 for 1. They took in over 1 hundred million pennies and paid out 2 million in gift cards.

 

[malenkai]

I have some dug large cents that aren't worth anything. Maybe I'll start paying with them if I see one of these signs.

 

[rginn]

Yeah I knew they stopped making them, which actually made sense to me. Might be something to get a mint set including the last one minted or a proof set. I think I'll hang on to my wheat pennies. Maybe this will increase their value by, maybe a penny or two, haha! Marketing will have to adjust, cause you know we will advertise something a $1.99 rather than $2.00.

 

[ToddsPoint]

With no more pennies, if you sold one you would get at least a nickel, right?🤔🤣

 

[djackson7348]

Just wanting to see what's up with the rest of the country. Seeing signs here sayin if you pay with cash consider exact change, due to blah, blah, blah. The registers where I work are rounding down now. So if the total is $1.24 and I put in $2 cash it rounds it down to $1.20. (Rounding up is coming.) Play it right and you could make a little change I guess. Lotta work, but I saved 15 cents last week, and a penny saved is a penny earned as the sayin goes. Federal Reserve says there are 114 billion pennies in circulation, but I imagine most of them are sitting in jars in our bedrooms. (Guilty.) Just wondering what you guys are seeing.

If each of us on here put our hoarded pennies back in circulation, there will be enough to keep going for the next 50 years I bet.

 

[Chizzy]

I've already been to 2 stores in my area that ran out of pennies in the past 2 weeks. I suggested to my wife that we should each carry 4 Zincolns with us if we plan on spending cash. One of the banks in our area admitted they haven't been able to get pennies from the Fed.

 

[pepperj]

I get 1.5% to 5% on every purchase I make with my cash back credit card. No extra effort needed. My Sept bill was over 4k with insurance payments and the dentist(ugh), so I applied my accumulated cash rebate of $874 and change to make it hurt a little le$$.
Paying with cash is very uncommon for me nowdays so no worries on the pennies for me.
I did go to the bank recently and they had signs up about the shortage as well.
Government should offer up a buyout for all penny hoarders of 2 to 3 cents each. They'll have more pennies than they could count!

So there's no power, or another type of devastating thing like weather event.
Cash is king
Perfect example a year ago when the hurricanes hit.
Plastic was useless

 

[fistfulladirt]

I get 1.5% to 5% on every purchase I make with my cash back credit card. No extra effort needed. My Sept bill was over 4k with insurance payments and the dentist(ugh), so I applied my accumulated cash rebate of $874 and change to make it hurt a little le$$.
Paying with cash is very uncommon for me nowdays so no worries on the pennies for me.
I did go to the bank recently and they had signs up about the shortage as well.
Government should offer up a buyout for all penny hoarders of 2 to 3 cents each. They'll have more pennies than they could count!

I get cash back also with a card but the most money is made with cash discounts. I just saved 20% on a new driveway install.

 

[jeff of pa]

If a Store Tells me they don't have a Penny, I'll Counter with
"a Nickel Will Do !" as long as I Don't get Shorted , I'm good !
I already Must pay 6 cents tax, not 7cents, Not 6.5 Cents , not even 6.1 Cents !!

1, 2, 3, or 4cents = 5 Cents in my Pocket !

 

[Evan in CA]

 

[xr7ator]

So there's no power, or another type of devastating thing like weather event.
Cash is king
Perfect example a year ago when the hurricanes hit.
Plastic was useless

I didn't say I have no cash on hand. Plus, my plastic worked and continues to work Great when any hurricane hits anywhere.

 

[xr7ator]

I get cash back also with a card but the most money is made with cash discounts. I just saved 20% on a new driveway install.

I did the same thing last time I replaced my roof. I paid my taxes. The roofer?