Pennies

The End of the Penny and How F&M Bank Has You Covered

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The U.S. Mint has announced that it will no longer produce new pennies. As existing supplies circulate through the Federal Reserve system, some locations may eventually see limited availability.

At F&M Bank, there’s no need for concern – we’re fully prepared to continue meeting your coin needs.

Here’s What You Should Know

  • Pennies remain legal tender. You can continue using them for purchases, deposits, and change – just like always.

  • F&M Bank is ready. We currently have two supply channels that can fill our change orders, ensuring that your business or personal transactions continue smoothly.

  • Please don’t hoard coins. Holding onto large quantities can contribute to localized shortages. By keeping your pennies in circulation, you’re helping your community.

Turn Pennies into Purpose

If you have jars or containers of coins at home, now’s a great time to bring them in! Our in-branch coin machines make it easy to turn those pennies into deposits or cash – and help keep coins moving in our local economy.

We’re Here to Help

If you have questions about coin availability or deposits, stop by your local branch. Our team is happy to assist and ensure your banking experience remains simple and stress-free.

Have questions about how this impacts your business? Our team is here to help you navigate cash and coin management.

Frequently Asked Questions

Q: Why is the U.S. Mint ending penny production?
A: The U.S. Mint made this decision because it now costs nearly four cents to make a single penny. By discontinuing production, the government will reduce costs and streamline coin distribution nationwide.

Q: When does this change take effect?
A: The Mint placed its final order for penny blanks in 2025, and production will officially wind down once those blanks are used – expected by early 2026.

Q: Are pennies still legal tender?
A: Yes! Pennies will remain valid for purchases, deposits, and payments. You can continue using and depositing them as usual.

Q: Will I need to round prices or payments now?
A: Not yet. Over time, as fewer pennies circulate, some cash transactions may round to the nearest five cents – similar to what other countries have done successfully. Digital and card payments will still support exact amounts.

Q: Should I hold onto my pennies?
A: We encourage customers not to hoard pennies, since keeping coins out of circulation makes them harder for others to access. Instead, bring in your coin jars – our in-branch coin machines make it easy to deposit or exchange your coins.

Q: How is F&M Bank handling this change?
A: We’re closely monitoring supply and working with two separate coin providers to ensure branches can meet your change needs. At this time, customers will notice no disruption in penny availability or deposits.

Q: What should I do if I have large amounts of coins?
A: Visit any F&M Bank branch to use our coin-counting machines. Turning your spare change into cash or deposits keeps coins circulating in our local economy and supports area businesses.

🌳 Our Commitment to You

F&M Bank is here to make this transition simple and stress-free.
If you have questions about pennies, coin deposits, or cash orders, stop by or call your local branch – we’re happy to help.

F&M Bank – Here for our customers. Here for our community.