US EditionRetailers and bankers in Colorado’s mountain towns adjust to life without new pennies
4 Articles
4 Articles
Retailers and bankers in Colorado’s mountain towns adjust to life without new pennies
Two months after the suspension of penny production in the United States, retailers and bankers across Colorado are still navigating the decision. Even as federal guidance remains scarce, many say the change hasn’t rattled them. Some businesses in Colorado’s rural mountain towns have turned to strategies like price rounding and asking customers for exact change as they operate with limited pennies. For others, it’s business as usual. The U.S. Mi…
Two months after the suspension of penny production in the United States, merchants and banks across Colorado continue to adjust to the decision. Even though the federal order remains in place, many people say the change hasn't caused them any major disruptions. Some businesses in rural mountain towns have resorted to strategies such as rounding up prices and asking customers to pay with exact change while operating with limited penny stock. For…
Penny production ends. What does it mean?
The Federal Reserve’s decision to limit penny distribution after the U.S. Mint stopped producing the coin in November had swift and uneven consequences: Regional penny shortages occurred along with a patchwork of rounding policies implemented by some retailers. On Jan. 14, the Fed reversed course, reopening coin distribution channels to penny deposits from banks and…
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