In Farmington, Utah, grocery shoppers are adapting to a new reality at local Harmons stores where the availability of pennies has come to an abrupt end. Customers can now expect their cash transactions to be rounded to the nearest five cents, a change signaled by prominent signs in the checkout aisles.
Chloe Pace, a shopper at the Farmington Harmons, expressed her frustration over not receiving exact change during her transaction. She noted the inconvenience as her payment for groceries was rounded, making it feel “weird and annoying.” The signs explain the situation, stating, “The U.S. Treasury has ceased penny production, and our bank can no longer supply them,” highlighting that this new policy will only affect cash transactions.
Officials at Harmons confirmed that this decision applies across all 19 locations of the grocery chain in Utah. The change comes after an order from former President Donald Trump in February to halt penny production due to the costliness of minting each coin, which amounts to about four cents. Howard Headlee, president and CEO of the Utah Bankers Association, commented on how the lack of a national strategy for managing the phaseout of pennies has forced businesses to navigate the change on their own.
While some customers share Pace’s sentiment, others are unfazed by the adjustment. Mary Maile mentioned that she rarely uses cash and feels comfortable with rounded amounts. In contrast, Troy Walker acknowledged the rounding but joked about her own stockpile of pennies being a possible contributor to the shortage.
The last order for blank pennies was placed by the Treasury in May, signaling a growing scarcity of these coins, as banks can no longer provide them to businesses. Headlee expressed hope that state-level policies may emerge to help businesses navigate potential legal issues stemming from rounding practices. However, he emphasized that federal guidance would offer a more unified solution across the nation.
The situation mirrors Canada’s experience when they eliminated pennies in 2012, where officials provided better guidance to businesses. As the market adjusts, it is clear that both businesses and consumers are navigating this transition, with anticipation for formal policies to mitigate any associated challenges effectively. Despite the inconvenience, a collective adaptation can pave the way for a smoother transaction future without pennies.