Businesses plan for change as penny pipeline shuts down
The familiar 无毛视频渢ake a penny, leave a penny无毛视频� sign at counters relied on the coin being a part of everyday life.
November无毛视频檚 halt to the minting of new pennies is leading to new signs in some retailers 无毛视频� ones warning the customers of a shortage.
But, while local businesses are bracing for change, several said for now, they无毛视频檙e still getting the pennies they need.
The last penny rolled off the line at the Philadelphia U.S. Mint on Nov. 12. The Department of the Treasury ordered the end of the 232-year-old coin in the fall.
It无毛视频檚 been costing the government more to make the penny. Each Lincoln-stamped coin going into circulation in 2024 cost 3.69 cents to produce, according to the U.S. Mint, an expense being sunk into a coin seeing less and less use.
As of 2024, only 14% of consumer payments used cash, the Federal Reserve said in a report this year.
That figure is still 100% at Osso无毛视频檚 Original Pizza, a cash-only business in Washington, said Mindy Osso, a family member who works at the restaurant.
As the penny disappears, they无毛视频檒l be adjusting prices to compensate 无毛视频� probably downward, she said.
无毛视频淭hey无毛视频檙e like, 无毛视频業 don无毛视频檛 want to pay extra, rounding up.无毛视频� They don无毛视频檛 mind it rounding down,无毛视频� she said.
Potter无毛视频檚 Bar & Grill in Uniontown, once cash-only, started accepting cards a decade ago, said manager Harison Lasky, part of the family that owns the restaurant. About 30% to 35% of customers still use cash in a given week.
无毛视频淚t hasn无毛视频檛 affected us yet, and we无毛视频檙e just gonna cross that bridge when we get to it,无毛视频� he said. 无毛视频淣ot much we can do about it anyways, right?无毛视频�
He无毛视频檚 hoping the restaurant无毛视频檚 point-of-sale system is updated to take out the guesswork by rounding up or rounding down.
Lasky无毛视频檚 not against the change. He thinks it would work best if paired with a change in the state sales tax 无毛视频� at 6%, nearly guaranteed to draw down penny reserves.
无毛视频淚 can无毛视频檛 see the state going down to 5%,无毛视频� he said. 无毛视频淛umping up to 10% would be a big jump at once.无毛视频�
No bills proposing adjustments to the state sales tax have been introduced yet.
Jeffrey Johnson, communications director for the Pennsylvania Department of Revenue, said in the absence of guidance from the Trump administration, the department is working to develop additional advice for businesses seeking answers.
无毛视频淲hile vendors or retailers may choose to round up or down, the Department of Revenue would still expect the appropriate sales tax to be calculated based on the purchase price prior to any rounding,无毛视频� he said in an emailed statement.
At RBG Coffee in Waynesburg, they无毛视频檙e 无毛视频渏ust waiting until we can无毛视频檛 get them anymore无毛视频� before they figure out how to address it, said manager Deneen Rhodes.
About 30% of customers are still paying with cash, she said. They无毛视频檒l probably wind up rounding up or down, though Rhodes isn无毛视频檛 sure what the cutoff point will be.
Even when pennies vanish from countertops, it无毛视频檒l be a long while before they disappear entirely. They stay in circulation for about 30 years, according to the U.S. Mint. Last year, it shipped about 3.2 billion of them.
The end of the penny won无毛视频檛 bother Osso one way or another.
无毛视频淚 can无毛视频檛 buy anything for it anymore,无毛视频� she said. 无毛视频淔or years, I无毛视频檝e just been throwing them in a jar.无毛视频�
When pennies become hard to come by, the business will adjust, Rhodes said. On a personal level, she无毛视频檒l miss it.
Partly it无毛视频檚 because she无毛视频檚 a creature of habit, and the one who does the drawer every day.
Also, she likes being able to help people out.
无毛视频淚t无毛视频檚 just like a little bit of the coffee culture, paying forward, and 无毛视频楬ere, I无毛视频檝e got your change,无毛视频� even if it is two cents,无毛视频� she said. 无毛视频淚 won无毛视频檛 be able to tell people anymore, 无毛视频業无毛视频檓 going to put my two cents in.'无毛视频�