The U.S. Mint pressed its final penny on November 12th. The Treasury Department stopped producing this coin because it costs more to make a penny than it’s worth.
This may have you wondering what happens now. According to an article by Southern Living, while the penny is still legal tender and will be accepted for payment, many retailers say they plan to round prices to the nearest nickel.
With no new pennies entering circulation, this might be the perfect time to empty out your piggy bank and cash them in at the bank or coin machine. This will help retailers and other shoppers who pay with coins.
You may want to take the time to sort your pennies first. That’s because pennies made before 1982 are made of copper and have value for their copper content. Many retail coin shops will pay 3 to 4 cents apiece.
Council of Seniors Wants You to Have More Retirement Money
For financially struggling seniors, every penny counts these days!
All of us here at the Council of Seniors are working hard to get Congress to passThe SAVE Benefits Act. This crucial bill will put $581 back in seniors’ pockets to make up for Social Security cost-of-living adjustments (COLAs) that were far too low for years. Greedy Washington politicians want to use seniors’ hard-earned money in other ways, but we’re dedicated to giving it back to those who are rightfully entitled to it.
Please take a moment and sign our petition today to show your support.