As the U.S. mints its final batch of pennies, local coin experts say the change has been expected for years.
TOLEDO, Ohio — As the United States minted its final batch of pennies, coin experts in Toledo say the change has been expected for years, but the value of the coins in your pocket isn’t about to skyrocket.
Brett Charville, owner of Toledo Coin Exchange, said the U.S. is simply catching up to other countries.
“Other countries like Canada have disposed of the penny years ago,” Charville said. “We don’t really think we’re going to be affected.”
He said there are still so many pennies in circulation that the end of production won’t make them suddenly rare.
At SoFo’s Italian Market on Monroe Street, the change has already reached the checkout counter. The store recently moved to rounding cash transactions to the nearest five cents, a shift prompted by the news that the Mint would be ending penny production.
Owner Tony Feudi said fewer than 10% of their customers pay with cash, and most barely notice when totals round up or down.
“It really has gone… almost unnoticed, with only minimal reaction from most customers,” Feudi said. He added that the financial impact on the business has been “so minimal” that he doesn’t anticipate needing any adjustments.
Shoppers interviewed at local stores said they rarely use coins at all, with most relying on cards or digital payments.
Although the pennies being passed around right now may not hold much value, Charville said to check for any pennies made in 1958 or earlier, as those are the ones that are worth some money.
