Local Banks Prepare for End of the Penny
By Greg Ritchie
Messenger Reporter
HOUSTON COUNTY – The humble penny’s days are numbered. The U.S. Treasury Department has confirmed it will stop minting new one-cent coins by early 2026, marking the beginning of the end for the copper-colored coin that has jingled in Americans’ pockets for generations.
The decision comes as the cost to produce each penny has climbed to nearly four times its face value, according to the U.S. Mint. Ending production is expected to save the federal government more than $50 million annually.
But the change is already being felt close to home. Houston County banks and retailers are adjusting to a world where pennies will gradually fade from everyday use.
“The initial phase-out of pennies has begun,” said Brandon Bridges, Regional President of Prosperity Bank. “The U.S. Treasury is no longer minting new pennies. Customers wishing to cash a check will just deposit the pennies into their account, as they will not be provided pennies as currency in the check-cashing process.”
Bridges said customers will see minor differences in how small-change transactions are handled.
“For instance, if John Doe brings a check to the bank to cash in the amount of $30.22, we would provide the customer with $30.20 and deposit the remaining $0.02 into the customer’s account,” he explained.
The Treasury has emphasized that existing pennies will remain legal tender indefinitely, and there is no need to hoard coins. Bridges agreed.
“There is no need to stockpile and hoard pennies,” he said. “Pennies are still in circulation and will continue to be accepted as legal currency. This process will take a long time to completely phase out across the United States, so pennies will still be used and seen in the normal course of business.”
As cash transactions adapt, most retailers are expected to round totals to the nearest nickel, while card and digital payments will continue to register exact amounts. Bridges encouraged residents to take the opportunity to strengthen their banking habits.
“Having a bank account at a local bank is the best way to manage the process of cashing checks,” Bridges said. “I encourage folks to open a local checking or savings account in their community in order to make the check-cashing process easier, and best manage the pennies.”
The penny has been in circulation since 1793 and has featured presidents from Abraham Lincoln to modern commemorative designs. Economists say it may take years for the coins to disappear completely, given the billions already in circulation.
As Houston County residents adjust to life with fewer pennies, Bridges offered one last reminder — and perhaps a silver (or copper) lining to the change ahead.
“Remember: Pennies make dollars! So this is a great opportunity to start saving,” he said.
And who knows — maybe these last few will be our ‘pennies from heaven.’
Greg Ritchie can be reached at [email protected]
