The U.S. Mint has ceased production of new pennies following a directive from President Trump earlier this year. The final shipment of newly minted pennies was delivered in August 2025. Existing pennies will remain in circulation until depleted.

Until legislation is passed to formally authorize rounding, banks that run out of pennies should round cash out transactions to the nearest nickel in favor of the customer.

Recommended Actions:

• Notify commercial customers that penny supplies may be limited and eventually exhausted.
• Encourage customers to deposit their pennies.
• Suggest that customers cashing checks deposit the coin portion into their accounts.
• Coordinate with your core system provider to ensure rounding functionality is supported.

CCI suggests sharing this update bankwide to ensure staff are prepared to answer customer questions regarding the penny phaseout. If you have any questions, please contact us via inquiries@completecompli.com.

 

Sarah Smith, CRCM, CAFP