The U.S. minted its last penny for general circulation in November, joining countries like Canada and Australia in phasing out the one-cent coin.
But a recent YouGov survey of over 1,000 U.S. adults reveals that Americans are divided about what this means for their spending — and how stores should handle the change.
The end of penny production doesn’t mean existing pennies are worthless. But as they gradually disappear from cash registers and coin jars, shoppers and retailers will face a new reality of cash transactions that can’t be settled to the exact cent.
YouGov found a near-even split with how Americans feel about the end of penny production. Forty percent of survey respondents say they support eliminating the penny while 39% oppose it. That’s a change from early 2025, when more Americans supported eliminating the one-cent coin.
Part of the confusion may stem from what “eliminating” actually means. When asked separately about ending penny production versus removing pennies from circulation entirely, respondents showed clearer preferences.
Nearly half support ending production while keeping existing pennies in use, but only about one-third support removing pennies from circulation completely.
One thing has become clearer to Americans: Pennies cost more to produce than they’re worth.
According to the U.S. Mint, it cost more than three cents to make each penny in 2024, a trend that persisted for 19 consecutive fiscal years. About two-thirds of surveyed Americans now understand this, up from just over half earlier in the year.
Those who know about the production costs are more likely to support phasing out the coin. Nearly half of Americans aware of the cost support elimination, compared with just over a quarter of those who don’t know or incorrectly believe pennies cost one cent or less to produce.
There’s also the fact that Americans accumulate more pennies than any other coin denomination but spend them less frequently, according to the survey.
About half of Americans report having more than 10 pennies on hand, and a quarter have more than 100. That’s far more than the number who say they have that many nickels, dimes or quarters.
Yet 28% of Americans say they never use pennies to make purchases — more than any other common coin. Only 11% use pennies daily, the lowest rate for any denomination except $100 bills.
The rounding dilemma
As pennies become scarce, stores must decide how to handle prices that don’t round to five cents.
According to YouGov, Americans are split:
- 39% say prices should round to the nearest nickel
- 33% say businesses should always round down in the customer’s favor
- Only 13% support always rounding up
Most Americans say rounding up would bother them at least somewhat, though only 19% say it would bother them a great deal.
It’s not necessarily a new problem. YouGov says that 41% of Americans have already encountered situations where they couldn’t receive exact change because certain coins weren’t available.
The penny may be gone from production, but its presence — and its absence — will continue shaping how Americans handle small change for years to come.
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