The Penny’s End and What It Means Legally © Cynthia Crofoot Rignanese, Esquire

**Disclaimer: This blog is for informational purposes only and does not constitute legal advice. If you try to pay your taxes with a wheelbarrow of pennies, do not say I told you to.**

The Big News: The Penny’s Swan Song

Let us get right to the point—after more than 230 years jingling in pockets, hiding under couch cushions, and being pressed into souvenirs at every national park, the US penny is being discontinued. Yes, you read that correctly. The coin that launched a thousand childhood collections (including mine) is finally getting a well-deserved rest. The Treasury will soon stop minting new pennies, citing the fact that it costs more to make a penny than a penny is worth, as they cost 3.7 cents each. As a lawyer, I can tell you this is the rare government math that actually adds up.

Legal Tender: What Does It Really Mean?

Now, before you start raiding your piggy banks or rolling your pennies for a trip to the nearest vending machine, let us talk about what “legal tender” actually means. According to 31 U.S.C. § 5103, all US coins and currency are legal tender for debts, public charges, taxes, and dues. Sounds straightforward, right? Not so fast.

Here is the legal twist: while pennies are legal tender, no law requires a private business, a person, or even your favorite coffee shop to accept them for payment. That is right—your local barista can legally refuse to take your carefully counted 337 pennies for a latte. The law says pennies are good for debts, but it does not force anyone to accept a mountain of coins for a cup of coffee.

The Treasury’s Authority: Who Decides When Enough Is Enough?

You might wonder, who has the authority to send the penny into retirement? In February 2025, President Donald Trump directed the Secretary of the Treasury to halt production of the penny, citing its wasteful cost. Acting on this directive, the Treasury Department placed its final order for penny blanks in May 2025. No dramatic courtroom showdown required—just a quiet administrative decision to let the penny ride off into the sunset.

So, What Happens to All Those Pennies?

If you are like me, you have a stash of pennies somewhere—perhaps in a jar, a drawer, or a shoebox labeled “Travel Fund” (spoiler: it will not get you to Paris). The good news is, all pennies already in circulation will remain legal tender. You can still use them to pay debts, taxes, and public charges. In theory, you could even try to pay your next estate planning retainer in pennies. (Please do not. My office carpet is not coin-resistant.)

But as the supply dwindles, businesses will start rounding cash transactions to the nearest nickel. Electronic payments will still be exact, so your online shopping sprees are safe from rounding errors. The penny will gradually fade from daily life, but it will not vanish overnight.

Childhood Collections and Worldly Coins: A Personal Perspective

Let me take a brief detour. My love affair with coins began as a child, sifting through pocket change for wheat pennies and buffalo nickels. Every coin felt like a tiny piece of history. As my world grew, so did my collection. Traveling to 147 countries, I picked up coins from every corner of the globe—each one a small, shiny passport stamp. Some were works of art, others looked like they had survived a war (and a few probably had).

The penny, though, was always special. It was the first coin I learned to recognize, the first I collected, and the first I lost in the washing machine. Its disappearance from production is a little like saying goodbye to an old friend—one who was always there, even if you sometimes wished they would stop cluttering your purse.

The Legal Tender Doctrine: Law vs. Reality

Back to business. The legal tender doctrine is often misunderstood. While the law says coins and currency are legal tender for debts, it does not mean you can force anyone to accept them for every transaction. The courts have long held that legal tender laws are about settling debts, not dictating the terms of every retail exchange. So, if your local diner posts a sign that says “No Pennies Accepted,” they are well within their rights.

For those of us who practice law, this is a classic example of the gap between statutory language and practical reality. The penny remains legal tender, but its practical use is up to the marketplace—and, let us be honest, the patience of cashiers everywhere.

Practical Tips for Clients and Collectors

**Estate Planning:** If you inherit a mountain of pennies, relax—they are still legal tender. But do not expect to pay off a mortgage with them unless you want to make lifelong enemies at the bank.

**Retailers:** You are not required to accept pennies, but be clear in your policies and signage. Transparency is key.

**Collectors:** Hang on to those pennies! The last minted batch could become a collector’s item. And if you find a 1943 copper penny, call me—we will split the proceeds.

Final Thoughts: The Penny’s Place in Legal and Personal History

The end of the penny’s production is more than a footnote in monetary policy. It is a reminder that the law, like the coins in our pockets, is always evolving. As a Lady Lawyer who has spent decades navigating statutes and collecting coins, I see the penny’s farewell as both a legal milestone and a personal moment of nostalgia.

So, next time you find a penny on the sidewalk, pick it up. It is not just good luck—it is a little piece of legal history. And if you ever want to talk coins, law, or the best place to find gelato in Rome, my office door is always open (just do not pay the consultation fee in pennies).

Empower yourself with the guidance and expertise of the “Legal Eagles” Team. Whether you are facing a legal challenge, seeking advice, or striving to be sure your estate is smooth for your heirs, our dedicated lawyer is here to support you every step of the way. Please do not navigate the complexities of the legal system alone. Call us now at 863-294-1114 to schedule a consultation; we can provide you with the assistance and representation you deserve. Take action today and let the Legal Eagles Team at Rignanese & Associates help you.