You’re at the gas station, buying a soda, and the total comes to $2.97. You fish around in your pocket, pull out a few crumpled bills, and—ugh—a handful of pennies. You count them out, one by one, while the cashier waits patiently. Sound familiar? Well, that little ritual might soon be history. The United States is phasing out the penny, that tiny copper coin we’ve all got stashed in jars and car cupholders. By 2027, the U.S. Mint will stop making them, closing the book on a coin that’s been around for over 200 years. It’s a big change, and people are feeling all sorts of ways about it—some are ready to move on, others are clinging to nostalgia. So, what’s driving this decision? And what does it mean for our wallets, our stores, and that jar of change on your kitchen counter? Let’s dig in.
A Penny’s Worth… Or Lack Thereof
The penny’s been part of American life since 1793, back when a single cent could actually buy something—like a piece of fruit or a newspaper. Since 1909, it’s had Abraham Lincoln’s face on it, making it a small tribute to one of our greatest presidents. But in 2025, let’s be real: a penny doesn’t get you much. Inflation’s made it practically useless. You can’t even buy a single piece of candy or a pack of gum with one cent anymore. Most of us just toss them in a drawer or leave them in those “take a penny, leave a penny” trays at the counter.
Here’s the real kicker: it costs more to make a penny than it’s worth. The U.S. Mint’s 2023 report said it takes about 2.72 cents to produce one penny, thanks to the rising cost of copper and zinc. In 2022, they made over 7 billion pennies, which means the government lost more than $140 million just churning them out. That’s like paying to make something nobody really wants. In a world where every dollar counts, that’s a tough sell.
And then there’s how we pay for things now. Cash isn’t king anymore. Whether it’s Venmo, Apple Pay, or a quick card swipe, most of us are going digital. The Federal Reserve says only about 16% of transactions in 2023 were made with cash, down from 40% ten years ago. Pennies, especially, feel like a hassle. They slow down lines, clutter up wallets, and end up forgotten in couch cushions. It’s hard to argue they’re still worth keeping around.
The Push to Move On
The idea of ditching the penny didn’t just pop up yesterday. People have been talking about it for years. Economists like Austan Goolsbee have been saying for ages that the penny’s a money-loser. Even regular folks got fed up, starting groups like “Citizens to Retire the Penny” to push for change. They’d argue, “Why are we wasting time and money on a coin nobody uses?” By the 2000s, studies were piling up, showing the penny was more trouble than it was worth.
In 2024, the government finally listened. After lots of research, public feedback, and some surprisingly calm debates in Congress, the U.S. Treasury, Federal Reserve, and Mint came up with a plan to stop making pennies by 2027.
They’ll slowly cut back production, get stores to start rounding cash purchases to the nearest nickel, and help everyone adjust. It’s one of those rare moments where both Democrats and Republicans agreed—pennies are past their prime.
Other countries have already done this. Canada got rid of its penny in 2012, and life went on just fine. Australia, New Zealand, and some European countries have ditched their smallest coins too. They use something called “cash rounding,” where cash payments are rounded to the nearest five cents. It’s worked out smoothly, and the U.S. figures it can follow their lead.
What’s the Payoff?
So, what’s the upside of a world without pennies? For one, the Mint saves a ton of money. No more losing millions making coins that just sit in jars. That cash could go toward making quarters or dimes or even other government programs. It’s not like $140 million a year will fix everything, but it’s a smart move that shows we’re thinking about efficiency.
Stores are excited too. Pennies are a pain for cashiers. Counting them, sorting them, rolling them—it’s a time suck. A 2019 study by the National Association of Convenience Stores said handling pennies costs businesses about $600 million a year in wasted time. Rounding to the nearest nickel means faster checkouts and less hassle for everyone.
For us regular folks, the change shouldn’t be too noticeable. With cash rounding, if your bill’s $2.97, you’ll pay $2.95. If it’s $2.98, you’ll pay $3.00. Places like Canada have shown this balances out over time, so you’re not getting shortchanged. And since most of us pay with cards or apps anyway, a lot of people won’t even blink. Digital payments stay exact, so your $2.97 soda stays $2.97 on your card.
The Heart of the Matter
Not everyone’s thrilled about this. For some, the penny’s more than just a coin—it’s a piece of who we are. It’s the coin you toss in a wishing well, the one you pick up for good luck. Lincoln’s face on it feels like a nod to history, and some folks worry that scrapping it means losing a bit of that. Coin collectors are buzzing too, wondering if rare pennies—like the 1943 copper ones worth thousands—will skyrocket in value.
But there’s another side to it. Getting rid of the penny shows we’re moving forward. We’re a society that’s less about cash and more about convenience. Holding onto a coin that’s lost its purpose feels like keeping an old flip phone just for nostalgia. This change is a chance to streamline things, to make life a little simpler.
The Challenges Ahead
Of course, it’s not all easy peasy. Some folks are worried about how this’ll hit people who still use cash a lot, like in low-income neighborhoods. If you’re buying cheap stuff at a corner store, rounding up a few cents might feel like a pinch. But studies from other countries say it’s not a big deal in the long run—rounding evens out, and stores aren’t likely to jack up prices just because pennies are gone.
Then there’s the question of what happens to all those pennies out there. The Treasury says they’ll still be legal tender, so you can use them if you want. But over time, they’ll probably disappear into piggy banks or coin collections. The Mint’s even talking about recycling programs to melt down old pennies and reuse the metal, which could help offset some costs.
What’s Next?
As we gear up to say goodbye to the penny, it’s a chance to think about what this change says about us. Even something as small as a coin can spark big conversations about tradition, progress, and how we handle our money. By 2027, when the last penny rolls off the presses, we might look back and wonder why we held onto it so long.
For now, there’s some getting used to. Stores will need to tweak their registers, and we’ll all have to adjust to rounded prices. But if other countries are any guide, we’ll get the hang of it fast. The penny may fade away, but its story—as a symbol of thrift, a nod to Lincoln, and a piece of our cash-driven past—will linger a bit longer.
A Penny’s Worth… Or Lack Thereof
The penny’s been part of American life since 1793, back when a single cent could actually buy something—like a piece of fruit or a newspaper. Since 1909, it’s had Abraham Lincoln’s face on it, making it a small tribute to one of our greatest presidents. But in 2025, let’s be real: a penny doesn’t get you much. Inflation’s made it practically useless. You can’t even buy a single piece of candy or a pack of gum with one cent anymore. Most of us just toss them in a drawer or leave them in those “take a penny, leave a penny” trays at the counter.
Here’s the real kicker: it costs more to make a penny than it’s worth. The U.S. Mint’s 2023 report said it takes about 2.72 cents to produce one penny, thanks to the rising cost of copper and zinc. In 2022, they made over 7 billion pennies, which means the government lost more than $140 million just churning them out. That’s like paying to make something nobody really wants. In a world where every dollar counts, that’s a tough sell.
And then there’s how we pay for things now. Cash isn’t king anymore. Whether it’s Venmo, Apple Pay, or a quick card swipe, most of us are going digital. The Federal Reserve says only about 16% of transactions in 2023 were made with cash, down from 40% ten years ago. Pennies, especially, feel like a hassle. They slow down lines, clutter up wallets, and end up forgotten in couch cushions. It’s hard to argue they’re still worth keeping around.
The Push to Move On
The idea of ditching the penny didn’t just pop up yesterday. People have been talking about it for years. Economists like Austan Goolsbee have been saying for ages that the penny’s a money-loser. Even regular folks got fed up, starting groups like “Citizens to Retire the Penny” to push for change. They’d argue, “Why are we wasting time and money on a coin nobody uses?” By the 2000s, studies were piling up, showing the penny was more trouble than it was worth.
In 2024, the government finally listened. After lots of research, public feedback, and some surprisingly calm debates in Congress, the U.S. Treasury, Federal Reserve, and Mint came up with a plan to stop making pennies by 2027.
They’ll slowly cut back production, get stores to start rounding cash purchases to the nearest nickel, and help everyone adjust. It’s one of those rare moments where both Democrats and Republicans agreed—pennies are past their prime.
Other countries have already done this. Canada got rid of its penny in 2012, and life went on just fine. Australia, New Zealand, and some European countries have ditched their smallest coins too. They use something called “cash rounding,” where cash payments are rounded to the nearest five cents. It’s worked out smoothly, and the U.S. figures it can follow their lead.
What’s the Payoff?
So, what’s the upside of a world without pennies? For one, the Mint saves a ton of money. No more losing millions making coins that just sit in jars. That cash could go toward making quarters or dimes or even other government programs. It’s not like $140 million a year will fix everything, but it’s a smart move that shows we’re thinking about efficiency.
Stores are excited too. Pennies are a pain for cashiers. Counting them, sorting them, rolling them—it’s a time suck. A 2019 study by the National Association of Convenience Stores said handling pennies costs businesses about $600 million a year in wasted time. Rounding to the nearest nickel means faster checkouts and less hassle for everyone.
For us regular folks, the change shouldn’t be too noticeable. With cash rounding, if your bill’s $2.97, you’ll pay $2.95. If it’s $2.98, you’ll pay $3.00. Places like Canada have shown this balances out over time, so you’re not getting shortchanged. And since most of us pay with cards or apps anyway, a lot of people won’t even blink. Digital payments stay exact, so your $2.97 soda stays $2.97 on your card.
The Heart of the Matter
Not everyone’s thrilled about this. For some, the penny’s more than just a coin—it’s a piece of who we are. It’s the coin you toss in a wishing well, the one you pick up for good luck. Lincoln’s face on it feels like a nod to history, and some folks worry that scrapping it means losing a bit of that. Coin collectors are buzzing too, wondering if rare pennies—like the 1943 copper ones worth thousands—will skyrocket in value.
But there’s another side to it. Getting rid of the penny shows we’re moving forward. We’re a society that’s less about cash and more about convenience. Holding onto a coin that’s lost its purpose feels like keeping an old flip phone just for nostalgia. This change is a chance to streamline things, to make life a little simpler.
The Challenges Ahead
Of course, it’s not all easy peasy. Some folks are worried about how this’ll hit people who still use cash a lot, like in low-income neighborhoods. If you’re buying cheap stuff at a corner store, rounding up a few cents might feel like a pinch. But studies from other countries say it’s not a big deal in the long run—rounding evens out, and stores aren’t likely to jack up prices just because pennies are gone.
Then there’s the question of what happens to all those pennies out there. The Treasury says they’ll still be legal tender, so you can use them if you want. But over time, they’ll probably disappear into piggy banks or coin collections. The Mint’s even talking about recycling programs to melt down old pennies and reuse the metal, which could help offset some costs.
What’s Next?
As we gear up to say goodbye to the penny, it’s a chance to think about what this change says about us. Even something as small as a coin can spark big conversations about tradition, progress, and how we handle our money. By 2027, when the last penny rolls off the presses, we might look back and wonder why we held onto it so long.
For now, there’s some getting used to. Stores will need to tweak their registers, and we’ll all have to adjust to rounded prices. But if other countries are any guide, we’ll get the hang of it fast. The penny may fade away, but its story—as a symbol of thrift, a nod to Lincoln, and a piece of our cash-driven past—will linger a bit longer.
