WACO, Texas (KXXV) — Penny production has ended after decades. Waco businesses share how they're preparing for cash rounding and what it means for consumers.
- Penny production has officially ended - The last penny was produced two weeks ago, though billions remain in circulation as legal tender.
- Local businesses are adopting different approaches - Some Waco establishments are already implementing cash rounding to the nearest nickel, while others plan to continue accepting pennies for now.
- Financial logistics still being worked out - Businesses face practical challenges including limited bank access to penny rolls and questions about sales tax reporting with rounding practices.
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BROADCAST TRANSCRIPT:
Two weeks ago, the last penny rolled off production lines, marking the end of an era for America's smallest denomination coin. While billions of pennies remain in circulation, local Waco businesses are preparing for what comes next.
25 News reporter Dominique Leh walked into Little Caesars recently and noticed a sign at the cash register: if you're paying cash, they're rounding your cost up or down depending on your total.
This prompted her to investigate how the end of penny production would impact local businesses and any loose change in your wallet.
As you're getting ready to pay, you might begin seeing more and more signs like this at cash registers. The move comes as production of the penny has stopped.
"The penny has been outdated for a while, so honestly losing the penny is not going to affect us in any way," Owner of Be Kind Coffee, Alex Sanchez said.
25 News checked in with some local businesses to see how they plan to handle the change.
"As soon as we're not able to get pennies anymore, I will be rounding things up to the nearest nickel, just for simplicity," Sanchez explained.
When Southern Roots Brewing Company was asked about rounding practices, they said it's possible in the future.
"Possibly in the future, but right now it's still legal tender, we're going to honor it. We will make adjustments as we go on, but do I think it's a big problem for our businesses specifically, no I really don't," Dustin Evans, owner of Southern Roots Brewing Company, said.
With billions of pennies still in circulation, businesses just have to play the waiting game. While the establishments I spoke with don't plan to pass the cost onto consumers, Things of the Heart Resale Shop tells me there are still some financial details to work out.
"I'm going to contact the state, and say what do you guys want to do with this because we gotta report our sales tax every month," Bob Gager, CEO of non profit Things of the Heart, said.
While many establishments say this isn't a problem they are thinking about right now, one explained they've been limited by the bank to two rolls of pennies a day.
This story was reported on-air by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.
