The Penny Shortage What It Means for Your Business and How to Prepare If you’ve noticed it’s harder to get pennies lately, you’re not alone. Earlier this year, the U.S. Treasury announced it would stop producing new pennies, and the U.S. Mint reportedly filled its final orders over the summer. While pennies remain legal tender, fewer coins in circulation are already impacting retailers and businesses. So, what does this mean for your business—especially if you handle cash transactions? Here are practical steps to keep operations smooth: Round Cash Transactions Round totals to the nearest five cents when pennies aren’t available. Be consistent and make sure customers know this applies only to cash purchases—not card or digital payments. A simple sign at the register can prevent confusion. Encourage Digital or Card Payments Electronic payments reduce your need for coin change and make transactions faster and more accurate. Consider promoting mobile wallets or contactless options to keep lines moving. Now is also a good time to reevaluate how your business accepts digital payments. Are you offering enough options for customers who prefer cashless transactions? Updating your payment systems can improve efficiency and customer satisfaction while reducing reliance on coins. Coordinate with Your Bank If you regularly order coin, reach out to your banker before you run low. They can help you plan ahead, request alternate denominations, and provide guidance on cash-handling strategies during the shortage. Communicate with Customers Transparency matters. A short explanation or posted notice goes a long way in helping customers understand that this is a nationwide issue—not just your store policy. What This Means for Cash Payments As pennies disappear, cash transactions will require rounding and clear communication. Digital payments will become even more important for efficiency and accuracy. This shift is also an opportunity to review your pricing strategy and consider how rounding might affect customer perception. Bank of Jackson Hole Is Here to Help At Bank of Jackson Hole, we know small changes can have a big impact on your business. Our team can help you: Review your cash-handling policies. Explore merchant services that make digital payments easier. Provide guidance on communicating changes to customers. If you have questions or want to learn more about payment solutions, contact your Bank of Jackson Hole representative today.
