With the U.S. Mint producing its last-ever batch of new pennies this week, metro Denver area restaurants and retailers have dealt with penny shortages and are asking customers for patience — and exact change.

Customers’ use of cash for retail transactions has dropped sharply from 2013-23, falling 50%, according to a 2024 Diary of Consumer Payment Choice survey from the Federal Reserve Financial Services. They now account for just 14% of all transactions.

Not only that, but it costs 4 cents to produce and distribute one penny. So, President Donald Trump announced the government would cease producing it, and in May the Treasury Department confirmed the U.S. Mint placed its final order, according to the National Retail Federation.

On Wednesday, the Philadelphia Mint produced its last penny. The Denver Mint produced its final one earlier this autumn.

Now business and restaurant customers nationwide are seeing signs asking customers to pay with exact change. Some retailers, like King Soopers in metro Denver, are rounding in favor of customers. So if the bill ends in 1 to 4 cents, the customer gets a nickel change.

“We continue to assess the impact of the U.S. Treasury’s decision to end penny production,” according to a King Soopers spokesperson via email. “If using cash for payment, we kindly ask customers to consider providing exact change. King Soopers will continue to accept pennies for payment.”

Others have gone the other way, and are rounding up the bill and charging customers 1 to 4 cents more.

One Instragram user posted “Yo quiero my change @TacoBell. Funny how a ‘penny shortage’ turns into profit” with a picture of a receipt.

The Denver Gazette reached out to Taco Bell for comment, but did not receive a reply as of this story’s publication.

Some are posting the new “penny policy” on the door or near cash registers.
“Due to a nationwide penny shortage, we kindly ask that guests pay with exact change when possible,” said a sign on a Denver-area Dunkin’.

It let customers know menu prices remained unchanged, and it would round up in favor of the customer.

While generous, those transactions in favor of the customers are going to end up costing businesses more.

A spokesperson for the Colorado Restaurant Association said with many restaurants trying to save every penny in light of rising labor and food costs, that policy might hurt their bottom line.

“We haven’t heard a lot from local restaurants yet, but we are aware that some businesses are rounding up when giving customers change – a hospitable gesture but a hardship for the business given that every penny counts for restaurants right now amid rising costs,” said Nick Hoover, CRA’s director of government affairs. “We hope consumers will show grace towards local businesses, including restaurants, as we all try to navigate this new, confusing reality.”

The National Retail Federation has been tracking the issue, and said its members are deploying various strategies. Some states have stepped in to regulate the issue.

“Any retailer that accepts cash as payment will be impacted by the penny shortage,” said NRF Senior Director of Government Relations Dylan Jeon via email. “There are a number of considerations that need to be taken into account depending on a retailer’s operations, including state laws that effectively ban rounding off transactions in some states.

“Penny circulation issues are widespread and aren’t centered in particular markets or cities. The Federal Reserve operates 165 coin distribution terminals across the country, and suspended penny services have increased due to inventory issues. Retailers remain committed to providing their customers with quality service and finding practical solutions to the phase-out of the penny.”