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Pinching Pennies

Pinching Pennies

U.S. Department of Treasury is officially discontinuing production of the penny coin.

The final production of the penny is expected to enter circulation in early 2026. While new pennies won’t be produced beyond that, existing pennies will remain legal tender and can be used for purchases and deposits.

Here’s what this means for you and how Eaton Community Bank is preparing for a smooth transition.

Why is the U.S. Treasury discontinuing pennies?

The decision is based on two main factors:

  • The cost to make and distribute a penny is nearly four cents.
  • Cash usage is declining as more people choose electronic payment options.

Will pennies still be accepted as payment?

Yes! Pennies will remain legal tender. You can continue to use them for purchases and deposits.


Can I still deposit pennies at Eaton?

Absolutely. We will continue to accept pennies for deposits just like before.
 

Will I be able to get pennies in my cash transactions and change orders?

While inventory exists. Banks can only order from existing Federal Reserve inventory until supplies run out. Once that happens, pennies will no longer be available for cash transactions and change orders. This may happen with no advance notice.
 

Should I stock up on pennies now?

No, we ask that you do not order or hold extra supplies. Inventory will naturally phase out over time.
 

Do I need to update my business systems?

If you accept cash payments, you may need to adjust your Point of Sale (POS) system to handle rounding. We recommend planning ahead.
 

Where can I learn more?

Official information will come from the U.S. Treasury and Federal Reserve.

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