Fast-food chains are moving away from pennies. As the U.S. phases out the one-cent coin, places like McDonald’s and Wendy’s are changing how they handle prices. They may round prices up or down if customers don’t have exact change.
A McDonald’s spokesperson mentioned that some locations are running low on pennies. They said, “In areas facing shortages, we’ll round cash transactions to the nearest five cents.” Wendy’s has also advised its franchisees to round down to the nearest nickel until the government sets an industry standard. Each franchise can decide its own prices, so rounding may differ from one restaurant to another.
Go To Foods, which owns Auntie Anne’s, Cinnabon, and Jamba, shares a similar approach. They prioritize customer trust by suggesting rounding in the customer’s favor when pennies aren’t available.
The three companies stated that cashless transactions wouldn’t change. President Donald Trump announced in February that the U.S. Treasury would stop minting new pennies by 2026. It costs 3 cents to produce each penny, a significant increase compared to its value. This move could save taxpayers around $56 million annually.
According to Dylan Jeon from the National Retail Federation, “Retailers need clear guidelines on handling the penny situation.” Without these guidelines, businesses risk legal issues as they adapt to the shortage.
Interestingly, the U.S. isn’t alone in this trend. Canada and Sweden have also stopped producing their one-cent coins, highlighting a broader shift away from low-denomination currency. As cashless payments become more common, the need for pennies continues to decline.
In recent years, survey data shows that about 80% of Americans support eliminating the penny, as many find it inconvenient to carry and use them. As society moves forward, it seems that the penny may soon be just a memory.
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