After 232 years, the penny is no longer being produced by the United States Mint. Following the Department of Treasury decision, made in part due to the growing cost of producing one-cent coins, the last penny was pressed in November 2025. However, there are an estimated 300 billion pennies remaining in circulation and these coins are still recognized as legal tender.
So, what does this change really mean for the everyday person? Here’s what you need to know, and where you can go for more information.
Answering Common Questions You May Have About Penny Usage Moving Forward
Can I still use pennies when making a payment or deposit?
Yes, pennies are still valid forms of currency and can be used to make transactions as you would normally. If you have them, you can spend them! However, as pennies decrease in availability, it is likely that businesses may not always have them available as change for your transaction. They may require exact change or enact a rounding policy. Keep this in mind as you make cash purchases.
Can I still receive pennies from my bank during personal or business transactions?
The Federal Reserve has discontinued penny order fulfillment, so financial institutions will likely experience a decreasing penny supply. As long as pennies are available, your financial institution will provide them for services such as check cashing or coin exchanges. Limits or exceptions may apply, so consult your financial institution’s policy regarding penny availability.
SouthEast Bank customers can contact our Client Care Team, visit their local branch, or review our penny rounding policy anytime for further information and updates.
What should I do with the pennies I have?
Pennies will continue to represent one cent, and there is no guarantee that they will appreciate in value as coins, even in shorter supply. So, you may continue to spend pennies normally, or take them to your financial institution to exchange for other currency—a choice they may appreciate!
Have more questions about how the currency change may affect you? Visit the U.S. Mint’s Penny FAQs to learn more or contact your financial institution for assistance.
Information contained in this blog is for educational and informational purposes only. Nothing contained in this blog should be construed as financial, legal or tax advice. An attorney, financial advisor, and/or tax advisor should be consulted for advice based on your circumstances.
Links to other websites or references to services or applications are provided as a convenience only. A link does not imply SouthEast Bank’s sponsorship or approval of any other site, service or application. SouthEast Bank does not control the content of these sites, services or applications.
