With the U.S. Mint producing its last-ever batch of new pennies this week, metro Denver area restaurants and retailers have dealt with penny shortages and are asking customers for patience — and exact change.
Customers’ use of cash for retail transactions has dropped sharply from 2013-23, falling 50%, according to a 2024 Diary of Consumer Payment Choice survey from the Federal Reserve Financial Services. They now account for just 14% of all transactions.
Not only that, but it costs 4 cents to produce and distribute one penny. So, President Donald Trump announced the government would cease producing it, and in May the Treasury Department confirmed the U.S. Mint placed its final order, according to the National Retail Federation.
On Wednesday, the Philadelphia Mint produced its last penny. The Denver Mint produced its final one earlier this autumn…