How Rounding Money Transactions Signals The End Of The Penny

I honestly had to stop and read the sign twice while sitting in the drive-thru line at one of my wife Donna’s favorite little Texas diners, Dairy Queen.

The note taped to the window read:
“Due to our bank no longer having pennies available, exact change may not always be possible. We will be rounding change to the nearest five-cent increment when we have no pennies available.”

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At first, I thought maybe it was just one restaurant dealing with a shortage. But then I noticed another diner doing something similar. That’s when it hit me. The penny, something generations of Americans grew up counting, saving, and tossing into piggy banks, may slowly be fading away.

Why America May Be Saying Goodbye To The Penny

Believe it or not, it now costs more to make a penny than the penny is actually worth. Rising metal and manufacturing costs have reportedly caused the government to lose millions by continuing to produce the one-cent coin.

Ironically, this isn’t the first time the penny has changed. During World War II, pennies were temporarily made from steel instead of copper because copper was desperately needed for the war effort.

Now, decades later, economics may once again be changing the future of the penny.

Why Restaurants Are Rounding Change

Many banks are reportedly receiving fewer pennies, leaving restaurants and stores struggling to keep exact cash change available.

As a result, some businesses are now rounding cash purchases to the nearest nickel when pennies are unavailable. Credit and debit card purchases will usually still remain exact, but cash transactions may occasionally be rounded up or down a few cents.

It may not sound like much, but people notice every penny these days.

More Than Just A Penny

For generations, children learned to count money one penny at a time. Piggy banks, penny jars, and counting coins at the kitchen table were part of growing up for many of us.

Years ago, I once asked a billionaire how people become wealthy. His answer surprised me. He said, “It starts with the first penny.”

That advice stayed with me and Donna through the years. If there’s money left over after the bills are paid, whether it’s five dollars, twenty dollars, or even a hundred-dollar bill, we put it away.

And honestly, I still pick up every penny I find on the ground.

Some people call them lucky pennies. Others say if it’s heads up, it’s lucky, and if it’s heads down, leave it there. Me? I have my own little theory I call “Jesus money.”

There have been moments in my life when I bowed my head in prayer, asking for guidance or strength. Then I’d look down and see a penny lying there, knowing the words “In God We Trust” are on that coin.

Maybe to some people it’s just a "lucky" or "unlucky" penny.

But maybe that tiny little coin still means more to Americans than we realize.

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