by Jameelah Mullen
May 29, 2025
It’s the end of an era.
The penny will soon be a thing of the past. The U.S. Treasury will soon stop minting the coin in early 2026. The decision comes amid rising production costs and declining consumer use. According to CoinNews.net, it costs nearly four cents to produce a penny.
The phaseout of the penny leaves many Americans wondering what to do with the copper coins in their piggy banks.
The penny will continue to be accepted at any retailer that takes cash. However, experts encourage Americans to examine their coins more closely before spending them, as some of them are worth more than one cent.
Resources like ”The 2026 Red Book: A Guide Book of United States Coins” can help consumers determine the value of their coins. At USCoinsValue.com, coin collectors can look up a penny by its year, mint mark, and condition. However, experts caution that it’s unlikely that you will become wealthy from your penny collection.
“Outside of a few variations that are in low supply…most will be worth just a tad more than their original value, Alex Beene, a financial literacy instructor for the University of Tennessee at Martin, told Newsweek.
Consumers can exchange their pennies for cash at banks or kiosks such as Coinstar, which are usually located in grocery stores, according to the Federal Reserve. Coinstar, the machine, converts $3 billion in coins into spendable cash daily. The average jar of change yields $58.
Aside from their monetary value, pennies, according to Gardenstead, act as a natural fungicide. Planting pennies close to the stem of your tomato plant can help reduce blight, a fungus common in garden vegetables. To prolong the life of fresh flowers, drop a penny into your vase, as it helps keep plant-rotting bacteria at bay.
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