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GREEN BAY, WI (WTAQ-WLUK) — Have you seen more signs in stores warning you about a change shortage?
After the penny was discontinued in May, many businesses across the country are no longer able to make exact change.
Chains like Kwik Trip and McDonald’s have decided to round totals to the nearest nickel.
McDonald’s had the following statement:
We have a team actively working on long-term solutions to keep things simple and fair for customers. This is an issue affecting all retailers across the country, and we will continue to work with the federal government to obtain guidance on this matter going forward.
Starting Nov. 10, Woodman’s Food Market is doing the same.
“We are going to be implementing a new policy with cash transactions only. We will be rounding down if totals end in 1, 2, 6 or 7 cents, and we’ll be rounding up if they end in 3, 4, 8 or 9 cents,” said Ryan Leland, second shift assistant store manager.
However, some businesses in the Green Bay area — including Kroll’s West — aren’t feeling the effects.
“We’ve not noticed it. It’ll probably catch up to us, like it’s doing to everybody else, but so far, we’ve been fine. I think part of it is because in the restaurant industry, there’s so many more charge cards now. There’s not as much coin being used,” said Mike Wier, owner of Kroll’s West.
A 2022 Pew Research Center survey says over 40% of Americans never use cash for purchases like groceries, gas and meals.
“Certainly, we see more and more card transactions every year,” said Leland.
According to the U.S. Mint, in 2024, pennies cost almost four cents to make and distribute. Nickels weren’t any better, costing almost 14 cents each.
It was the 19th consecutive fiscal year the unit cost was higher than face value for both coins.
According to the Department of Government Efficiency, not making pennies will cut out the $179 million it costs taxpayers to make them. The U.S. Mint estimates not making pennies will save $56 million in material costs.
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