After more than a century in circulation, the U.S. Department of the Treasury has announced plans to end penny production in 2026 due to high manufacturing costs and declining usage. While pennies will remain legal tender, their availability will gradually decline over time, and businesses may begin adjusting how cash transactions are handled, such as rounding totals to the nearest five cents.
What you need to know
- Currently, pennies are still legal tender and can be used for purchases or deposited into your bank account.
- Rockland Trust can no longer order pennies from the Federal Reserve, but we will continue to distribute them during banking transactions while supplies last.
- For business customers, we will fulfill penny orders while supplies last. Please note that availability may vary by branch and orders may be limited based on inventory.
- Over time, fewer pennies in circulation may lead to rounding adjustments for cash transactions. When paying in cash at businesses, your total may be rounded up or down to the nearest nickel while debit and credit card, check, and digital payments will continue to process to the exact cent.
What you can do
Cash them in. If you have coins saved, consider depositing them into your Rockland Trust account. You can also cash in your change at one of our locations with a free coin-counting machine. Click here to find one near you.
Consider using digital payments. When you pay using a debit card, credit card, or any digital method (like mobile wallets or Zelle®), your transaction will be processed for the exact amount. These payment types are not affected by rounding, so you will always be charged precisely what you owe—no rounding up or down. Learn about the benefits of a Rockland Trust Debit or Credit Card.
This recommendation also applies for businesses. By offering digital payment methods, business owners can save time and reduce potential rounding errors by minimizing cash transactions. With merchant services through Elavon or Autobooks, businesses can accept all major credit and debit cards, ensuring a convenient and seamless checkout experience for customers. Click here to learn more about Rockland Trust's merchant services offerings.
Sign up for direct deposit of your paycheck. With direct deposit, you will receive the exact amount of your pay automatically in your account.
Frequently Asked Questions
Why is penny production being stopped?
The U.S. Department of the Treasury is ending penny production due to high manufacturing costs and declining usage.
Can I still use pennies?
Yes. While pennies will no longer be produced, they are still legal tender and can be used for purchases or deposits into your bank account.
What should I do with my pennies?
You can keep using them to make purchases or deposit them at your bank. You can also cash in your change at one of our locations with a free coin-counting machine.
What happens if a business runs out of pennies?
If a business runs out of pennies, it is up to each individual business how to handle cash transactions. Some may round the total to the nearest five cents, while others might encourage customers to complete their purchase using a debit or credit card instead.
Can I still order pennies for my business?
Rockland Trust can no longer order pennies from the Federal Reserve, but we will continue to fulfill penny orders while supplies last. Please note that availability may vary by branch and orders may be limited based on inventory.
Will this affect my account balances?
No. The penny phase-out only affects physical coin circulation, not your account balances.
