US to stop making pennies — here's what it means for banks
US to stop making pennies — here's what it means for banks
- June 11, 2025
- Bill Maurer, anthropology, American Banker, June 11, 2025
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If, over time, pennies become so rare that retailers stop using them, UC Irvine's [dean of Social Sciences Bill] Maurer worries that stores could start setting two prices: one for "banked" Americans and another for the "unbanked." "When everything is all added up, and you're at the checkout, they're going to round up to the nearest five cents if you're paying in cash," Maurer said. "If you're paying with a card or with your phone, they'll just charge you whatever the actual total is."
For the full story, please visit https://www.americanbanker.com/news/u-s-to-stop-making-pennies-heres-what-it-means-for-banks.
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