Photo: WBZ NewsRadio
EVERETT, Mass. (WBZ NewsRadio) — If you see a penny, you should pick it up. This is not just so all day you'll have good luck, but because the U.S. Treasury Department will halt the production of pennies in 2026, under President Trump's direction.
According to the department, over the past decade, the cost to produce the zinc and copper coins has increased from 1.30 cents to 3.69 cents per coin, exceeding their value. While the Trump administration is celebrating the end of one of the first coins to be minted in the U.S., others are not so thrilled, especially those in retail.
"People still use pennies. They are still a part of the currency. I wouldn't say they should be phased out, but people still depend on them," said one retail worker in Everett. "Some people want exact change. You don't want to cause friction between you and the customer. You just want to give them their change. "
Although some insist that the U.S. is moving to a cashless economy, the National Association of Convenience Stores noted that one in three transactions in a convenience store are cash.
"People pay with pennies all the time," said another retailer in Everett. "We do give out pennies often, but we also are not receiving them. They do go out of circulation fast. The pennies are like our biggest coin problem or coin shortage in most fast food or small restaurants."
The Treasury submitted its final order of penny blanks this month and will continue to produce the coins until they are out of inventory. The U.S. Mint predicts an annual savings of $56 million when it ceases production.
WBZ NewsRadio’s James Rojas (@JamesRojasMMJ) has more.