Oakland University Credit Union

U.S. Treasury Announces Discontinuation of Penny

Due to rising production costs and a shift in consumer behavior towards digital payments, the U.S. Treasury officially pressed their last penny on November 12, 2025.

Approximately 300 billion pennies are still in circulation and will remain legal tender, but availability is declining as existing inventories are depleted at Federal Reserve coin distribution locations, and no new pennies enter circulation.

What You Need to Know

• Pennies can still be used for payment. The legal-tender status of pennies is unchanged, and businesses may continue to accept them.

• Branch coin availability will be limited. Since branches are no longer receiving penny shipments, rolled pennies may not be available.

• Consumers can still use exact change. Cash transactions will still be processed to the exact cent where pennies are available. If pennies are not available, branches can deposit any remaining cents into your account.

• Coin machines will continue to accept pennies for a limited time. Coin machines will continue to accept U.S. coins until new processing options are established.

• Penny availability varies by location and institution. The Federal Reserve states that coin terminals will eventually stop fulfilling penny orders and accepting penny deposits, depending on the specific region and inventory.

The Credit Union's Commitment

We will continue to provide clear updates, support exact cent transactions where operationally feasible, and explore long term solutions.

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Are pennies discontinued? Can I still use them?

Pennies remain legal tender. You can still spend and deposit pennies. What ended is new penny production--not their legality.

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Why don't you have rolled pennies for sale?

Local FedCash coin sites are depleting inventory. The Federal Reserve stated that when a coin distribution location's penny inventory is exhausted, it will not fulfill penny orders--timing varies by location. Most branches have been notified of depletion in their service areas.

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Can branches still make exact change in cash?

Yes--where pennies are available. If a branch has pennies on hand, will make exact change.

If pennies are not available, we will complete the transaction using available coin, and offer practical options such as depositing remaining cents into your account.

Many organizations are evaluating rounding approaches for cash transactions, like procedures used in other countries; there is currently no federal rounding standard in the U.S.

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Can members still use coin machines--including pennies?

Yes. Coin machines continue to accept all U.S. coins. The Federal Reserve is adjusting how penny deposits are handled as distribution sites deplete and the Credit Union is working with vendors to explore processing options.

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What's the limit on buying penny rolls?

Penny roll availability is decreasing and will be provided on a limited basis, while supplies last. Requests may be reduced or unavailable in areas that the inventory has been depleted.

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Why did the government stop making pennies?

The penny costs nearly 4 times it's face value to produce, approximately 3.7 cents per penny, when factoring in minting and distribution. In addition, cash usage for small value transactions has declined. The U.S. Treasury/Mint ended production to reduce losses.

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Will card/ACH transactions still be to the exact cent?

Yes. Electronic payments are not affected and will still post to the exact cent. Any rounding considerations apply only to cash transactions when pennies aren't available.

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Equal Housing Opportunity

Federally Insured by NCUA

Equal Housing Opportunity

Federally Insured by NCUA

Equal Housing Opportunity

Federally Insured by NCUA

NMLS: 405297

Oakland University Credit Union accounts are held at Michigan State University Federal Credit Union where savings are federally insured to at least $250,000 by the and backed by the full faith and credit of the United States Government. APR = Annual Percentage Rate. APY = Annual Percentage Yield. and read our disclaimer regarding links to other sites.

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