What No More Pennies Could Mean For New York

President Donald Trump announced plans to halt the production of pennies, citing the rising cost of minting them. The penny, a staple of American currency since its introduction in 1792, now costs more to produce than its actual value—more than two cents per coin. As the U.S. Treasury Department gears up to cease production, here's what the disappearance of the penny could mean for New Yorkers.

The End of the Penny: What New Yorkers Can Expect with the Elimination of the One-Cent Coin

1. Cash Transactions and Rounding Rules

One of the first noticeable changes will be price rounding. Small businesses will need to adjust their pricing to round up to the nearest nickel.

Imagine grabbing your $1.99 coffee at your favorite deli, only to realize you have to pay $2.00 instead—just a penny, but it will add up. Over time, those pennies that once cluttered up your pockets will be gone, and consumers might see prices slightly rounded, particularly in places that still rely on cash payments.

2. Coin Collection Culture

New Yorkers are no strangers to quirky traditions. While the rest of the country might wave goodbye to their loose change, many in the Empire State have developed a deep appreciation for collecting coins, especially those with historical significance. The penny’s removal could spark a new frenzy in coin collectors’ circles. Rare pennies—especially older ones—will likely see a boost in interest as collectors rush to grab their last batch before the coins are no longer available from the U.S. Mint. Expect antique shops and flea markets across the state to offer up "vintage" pennies at inflated prices.

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For those less inclined to collect, there might be a trend of hoarding pennies as keepsakes, whether for their nostalgic value or as part of the love for preserving unique, local history.

3. Impact on Local Businesses

Businesses that still operate on cash-only transactions—like some neighborhood pizzerias or food trucks —will have to figure out how to deal with this round-up issue. Some might even choose to stop accepting cash altogether, accelerating the already growing trend of digital payments.

For others, like laundromats, parking meters, and vending machines, the penny’s loss could lead to temporary confusion while the machine's software gets updated.

4. Effects on Charity and Tips

Charitable donations often rely on spare change, with many nonprofit organizations and street performers using penny jars to collect donations. The penny’s demise could lead to a shift in how these collections happen. And penny drives that collect loose change for local causes might need to rethink their strategy, possibly encouraging rounding up to the next nickel or dollar.

5. Good Luck Charm

Pennies are still widely regarded as lucky, and you can toss them into fountains or wells to make a wish (or just enjoy the tradition). They’re also used for luck in a lot of superstitions—like finding a penny on the ground and picking it up for good fortune!

6. Coin Toss Drama

Forget flipping a penny to make decisions—now people may have to start flipping nickels or dimes.

7. B1G1 For a Penny

Say goodbye to all those buy one get one for a penny sales. They'll now be buy one get one for a dollar.

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8. Penny Slots

If you're visiting a casino that still has penny slot machines, use up your collection of pennies because you'll be saying goodbye. Some vintage penny arcade machines are still around, and you can use your pennies to play these old-school games.

9. Checking Tire Tread Depth

Use the “penny test” by inserting a penny (Lincoln’s head down) into your tire tread; if you see all of Lincoln’s head, it’s time for new tires.

10. Souvenir Pressed Pennies

Many tourist spots have penny-press machines that squash and engrave pennies into collectible keepsakes. You put your penny and 2 quarters in the machine, pick your design and out comes a magnificent flat penny.

11. Science Experiments

Using vinegar or ketchup to clean pennies is a common science experiment for kids. While stacking pennies with wet paper and aluminum foil can create a small electrical charge similar to a battery. Pennies are sometimes used in a DIY silver cleaning method, where you use a penny in a solution with salt and vinegar to clean tarnished silver. It’s a fun, old-timey trick, though the effectiveness may vary!

12. Penny Decor

Say goodbye to tabletops decorated with penny mosaics. These projects have offered a creative way to repurpose loose change into stunning art. However, as the cost of minting pennies continues to outpace their worth, the beloved penny decor will likely become a thing of the past.

The Future of the Penny in New York

Whether we’re rounding up prices or keeping our penny collections in a box for posterity, the truth is that the end of the penny will likely have both small and big effects on the everyday New Yorker. While the change might seem minimal in the grand scheme of things, it’s clear that the penny’s absence will leave its mark on New York City’s culture, economy, and traditions.