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Why is There a Penny Shortage Already?

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AngliaGT

AngliaGT

Great Pumpkin
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Some places aren't giving pennies back as change now.It was just a few days
ago that they quit making them.so since there's so many already in circulation,why
is there a shortage already?
It should be years before there's a shortage,in my opinion.
 
Revenue. Retaining the $0.01 adds up with every cash-based transaction. They could be in the 10s of dollars in one short year!
 
In 2012 Canada stopped making pennies, in early 2013 they started withdrawing them from the market. Best decision ever.

0.1 and 0.2 cents round down, 0.3 and 0.4 round up. So a wash for merchants. Debit and credit charge the exact amount. So much easier and lighter in my pocket. They are even pondering get rid of nickels.
 
Ah, but as Doug asks ... why are pennies already so scarce in the US?

We're in the money!

 
Because there are those who learned this math in school!! :D:ROFLMAO::D:rolleyes:

1763590990543.png
 
I recall years ago an article that people tend to 'hoard' pennies - usually with a penny jar. I wander also if people think they are going to be worth something someday. I suppose too that if stores aren't ordering pennies from the bank....
 
Wonder if British English is different from Canada English ...


:jester:
 
JPSmit said:
I recall years ago an article that people tend to 'hoard' pennies - usually with a penny jar. I wander also if people think they are going to be worth something someday. I suppose too that if stores aren't ordering pennies from the bank....
Click to expand...
I hoard change (not just pennies) I have a large water cooler bottle that I dump my loose change in. Every couple of years, when it gets about half full, I take it to a change counting machine (like at Walmart) and usually end up with a couple hundred dollars.
 
I have been to a handful of places that didn't have pennies, or at least they said so, and I paid an extra 1-2 cents for what I was getting. I do have some change round the house I carry when I go shopping to round to the nearest dollar, although not always so I don't completely run out. Most of my pennies are older, wheat cents and back to the 1790s large cents. But I did get a couple rolls of 2025P/D cents as speculation.
 
JPSmit said:
I recall years ago an article that people tend to 'hoard' pennies - usually with a penny jar. I wander also if people think they are going to be worth something someday. I suppose too that if stores aren't ordering pennies from the bank....
Click to expand...
If they're like me, I don't like carrying them in my pocket, so they just lie around.
 
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