Imagine reaching into your piggy bank and realizing the humble penny might be headed for retirement — but you’re still holding onto hundreds, maybe thousands.
It’s official: the U.S. Mint has placed its final order of penny blanks and plans to stop making one-cent coins after they work their way through those blanks — sometime in early 2026. It currently costs approximately 3.69 cents to make a penny. With an estimated 114 billion pennies out there, that’s a lot of coins.
If you’ve got rolled pennies under the couch or a collection in the closet, here’s how to put them to good use now that the era of minting them is winding down.
Exchange at banks
Banks will continue accepting pennies for deposit or exchange even after the new minting ends. According to an American Bankers Association FAQ, banks will “continue to accept and process pennies as long as they remain in circulation.” That’s a relief because it means you don’t have to make a special effort to spend them all today. If you’ve clusters of pennies lying about, you can take rolls or loose coins to your bank.
Some banks will ask for rolled or sorted coins; others will use coin-counting machines. Rolling pennies yourself will save you the charges that machines might impose. Keep in mind that the supply will gradually decrease, so that banks will adjust their coin-order procedures during the phaseout of the penny. However, this is a good idea to roll those pennies into usable money before they become inconvenient.
Use in retail transactions
Even though no new pennies will be manufactured, the ones in circulation are still legal tender. The Treasury has guaranteed that pennies will remain acceptable for payment as long as they’re in circulation. So yes, you can still pay at the checkout with pennies. Especially in cash-based businesses, exact change in pennies can still be available for now.
That said, as coins become scarcer, most cash transactions will start to round to the nearest five cents (nickel), as other countries have done. For consumers, it means your pennies will earn for you today and maybe tomorrow. Still, you should spend them before they become harder to use in daily transactions.
Deposit into coin machines
Coin-counting kiosks like those operated by Coinstar continue to accept pennies for cash, gift cards, or donations. Bankrate reports that you can roll up or pour your loose change into these kiosks and trade it. A significant caution: fees. Some machines charge up to ~12.9% plus a flat transaction fee for cash redemption. That wipes out value on smaller amounts.
If you’re going this route, consider choosing gift-card or donation options that may be fee-free. Especially as the supply of pennies tightens, getting them into machines now might avoid later hassles or even unavailability.
Donate to charities
Since pennies will still be around for a bit longer, you can put them to use to give to nonprofits. Schools, charities, and churches often have penny drives and take coin donations. For example, Woman’s World reports that many nonprofits accept pennies through coin-collection programs.
Taking in your pennies and donating them gets you behind a cause and eliminates your small-change clutter. It’s a win-win move before the penny becomes impractical to carry around.
Save for collectible value
If you have old pennies, especially those that were made before 1982 (which are ~95% copper), you should hold on to them. Pre-1982 copper pennies are worth more in metal than face value and will likely garner interest as the penny rolls phase out.
Some sites suggest holding onto certain types for future value. This is not a guarantee of significant returns. Still, suppose you do keep a stash of commemorative coins anyway. In that case, it is worth saving them rather than spending them all willy-nilly.
Use for DIY projects
Pennies are excellent raw material for crafts, art, flooring, or jewelry. They have that copper-look and nostalgia factor. When a coin is as iconic as the penny, creative uses abound.
So if you’re a DIYer or know someone who is, gather your pennies and turn them into something extraordinary — a mosaic tabletop, penny-covered jar, or even a quirky necklace. This repurposes them before they become harder to move or exchange.
Teach kids about money
Coins are tangible tools for learning. With the penny phaseout looming, you’ve got a timely opportunity. Using pennies to teach children basic math, saving habits, and coin recognition remains useful.
Dig into your jar, sort pennies, show them value accumulation, and spark discussions about how money works. It’s a hands-on, real-life moment about change — literally and figuratively.
Keep for emergency cash
A small change is not useless. The penny will soon be phased out, but since it is still legal tender, it can be used for odd-change purchases, vending machines (where permitted), or as a tip. Having some spare coins on hand for the odd cent now and then may come in handy during this period of change.
As supply gradually dwindles, your hoard could serve as an unexpected cushion. Just make sure your coins are in good condition and the machine or vendor you’re using accepts them.
Trade with collectors
When new pennies are no longer being made, mint marks or error pennies can become collectible. Sites suggest trading or selling strange types of pennies.
If you have some extra time, separate pennies with special dates or mint marks, search for doubles or oddities, and see if coin-collecting trade values them. Even if you don’t discover gold, you may find something more interesting than a one-cent denomination.
Create art or jewelry
Aside from crafts, you can turn pennies into wearable or decorative art. Coins in necklaces, bracelets, wall art, or sculptures tell a story — “the last pennies” times, for example.
Whether you make them yourself or pay someone to do it, converting pennies into art gives them a new existence beyond cash registers and coin jars.
Hold as historical keepsakes
The penny has been American currency for over two centuries. As production comes to an end, your pennies are a piece of American monetary history.
Having some in a jar, frame, or display as keepsakes makes sense. They remind you of the money history, the change received daily, and that all coins matter. It’s a cheap way to mark this occasion.
Key takeaway
Even though new pennies will not be produced after the beginning of 2026, the pennies you already have are still valid and worth using. Spend them, donate them, trade them, or get innovative. Because it’s becoming too costly (around 3.7 cents per coin, worth 1 cent) and 114 billion are already circulating, it’s a smart time to decide what you want to do with your pennies.
No matter whether you sell them in on as spendable cash, pieces of art, or souvenirs, you have numerous options — so don’t just keep them under the bed collecting dust.
Disclaimer – This list is solely the author’s opinion based on research and publicly available information. It is not intended to be professional advice.
Disclosure: This article was developed with the assistance of AI and was subsequently reviewed, revised, and approved by our editorial team.
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