As the U.S. Mint quietly winds down penny production and Canada-style penny phase-out talks gain traction in Congress, millions of Americans are staring at overflowing coin jars wondering: What now? The Treasury Department confirmed in November 2025 that new penny minting will drop to near-zero by mid-2026, with lawmakers eyeing a full U.S. penny elimination by 2030 to save an estimated $600 million over a decade.
If you’ve got hundreds (or thousands) of pennies collecting dust, now is the perfect time to turn that copper clutter into cash—or even profit—before the penny phase-out 2026 makes everyday circulation a thing of the past.
In this practical guide to the U.S. penny phase-out, we’ll cover the smartest ways to get rid of your pennies, which rare coins could be worth 100× face value, and how rounding rules will work when the one-cent piece finally disappears from cash registers.
Why Is the Penny Being Phased Out in the First Place?
The math is brutal: Each penny now costs 3.78 cents to produce and distribute—meaning the Mint loses money on every single one. With cash transactions falling below 16% of purchases and inflation eroding the penny’s buying power (it buys less today than a 1913 nickel did), both parties agree it’s time to stop the bleed. The “One Cent Elimination Act of 2025,” co-sponsored by Sens. J.D. Vance (R-OH) and Kyrsten Sinema (I-AZ), proposes:
- Halting new penny production after June 30, 2026
- Rounding cash transactions to the nearest nickel (just like Canada, Australia, and 40+ countries already do)
- Keeping existing pennies legal tender forever—so no forced redemption
Bottom line: Your pennies won’t become worthless, but they’ll slowly vanish from circulation—making this the ideal window to cash in or hunt for treasures.
Best Ways to Get Rid of Your Pennies Before (or After) the Phase-Out
Here are the smartest, most profitable options for unloading that jar during the penny phase-out 2026 and beyond:
- Coinstar Machines (Still the Easiest) Most grocery stores still accept pennies with the standard 11.9% fee, but choose Amazon, Apple, or Starbucks gift cards and the fee drops to zero. Pro tip: Sort out pre-1982 coppers first (see below).
- Bank or Credit Union Roll & Deposit Many banks (Chase, Wells Fargo, local credit unions) still take rolled pennies for free if you’re a customer. Bring your own wrappers or buy reusable plastic tubes on Amazon for under $15.
- Sell Pre-1982 Copper Pennies by the Pound Pennies minted before 1982 are 95% copper and currently worth ~3.2 cents each melted (illegal to melt, but legal to sell by weight). Buyers on eBay and r/coins pay $2.20–$2.60 per pound (~145 pennies). A single 5-gallon jug of pre-1982s can fetch $600+.
- Check for Rare & Valuable Pennies Before dumping, sort for these jackpot dates (values as of Nov 2025):
- 1943 bronze (yes, a few exist) → $200,000+
- 1944 steel → $10,000–$100,000
- 1969-S doubled die → $35,000+
- 1955 doubled die → $1,000–$2,000
- 1983-D bronze transitional error → $1,500+ Use the free Coinoscope or PhotoGrade apps to scan your stash.
- Donate to Charity Ronald McDonald House, Leukemia & Lymphoma Society, and many local charities still have penny drives—your copper becomes their cause.
How Cash Rounding Will Work When Pennies Disappear
Once the U.S. penny elimination is complete, cash transactions will round to the nearest 5¢—just like Canada has done since 2013:
- $1.99 → $2.00
- $1.98 → $1.95
- Exact nickel amounts stay the same
Studies from Canada, Australia, and New Zealand show consumers break even over time (no net loss or gain), and prices don’t round up more than down. Credit/debit/app payments remain exact to the cent forever.
Timeline: When Will Pennies Actually Stop Circulating?
- July 2026: Last new pennies minted
- 2027–2030: Banks and retailers gradually stop redistributing pennies
- 2030 (projected): Official “end of circulation” date—pennies become like old $2 bills: legal but rarely seen
Existing pennies remain legal tender indefinitely, so hoarding for nostalgia is fine—but don’t expect them to become rare collectibles en masse.
Bottom Line: Turn That Penny Jar Into Cash (or Keep the Winners)
The penny phase-out isn’t a crisis—it’s an opportunity. Whether you cash them in fee-free at Coinstar, hunt for six-figure errors, or sell copper by the pound, now is the moment to act before the one-cent piece fades into history. A typical household has $50–$200 in loose pennies—why let it gather dust when it can become grocery money, charity, or even a down payment on a rare coin collection?
Got a monster jar? Tell us in the comments how many pounds you’re sitting on—we’ll keep this penny phase-out guide updated as the 2026 deadline approaches.