Did you know that all the pennies currently in circulation could fill a cube roughly 13 stories high? Despite their sheer volume, many people don’t even bother keeping them—tossing spare cents into "leave-a-penny, take-a-penny" trays at store checkouts instead.
What Happens When Pennies Disappear?
As the U.S. considers phasing out the penny, retailers won’t run out immediately. But once banks stop supplying new rolls, stores will likely round cash transactions to the nearest nickel. The exact timing will depend on individual businesses, not government policy.
However, electronic payments (like credit/debit cards) will still be processed to the exact cent—only cash purchases will be rounded.
Lessons from Canada
Canada stopped minting pennies in 2012, but they remain legal tender indefinitely. Most retailers still accept them, though rounding is common for cash payments. As retail expert Lenard notes:
“There’s a saying in retail: ‘Never lose a customer over a penny.’ If someone wants to pay in pennies, most stores will happily take them to keep customers satisfied.”
The Bottom Line
Whether the penny stays or goes, its legacy—and the debate over its usefulness—will linger. For now, those copper coins still hold value, but their days in everyday transactions may be numbered.
