Stores in the Garden State are finding themselves a few pennies short of change
Earlier this year, the United States Treasury announced that the U.S Mint would stop making pennies.
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Scrape the bottoms of your bags and dig deep into your pockets, a nationwide penny shortage sparks change in how businesses are handling cash payments, and it’s got customers practicing common “cents.”
Shopper Jim Paduch from Freehold likes to pay the exact amount for items.
"I generally give cash, and if I have change in my pocket, I give them exact change," Paduch said
But this penny shortage doesn't affect shoppers like Ying Tao from Morganville.
"I don’t use pennies. Usually, I charge credit cards. It’s not a problem for me," Tao said.
Earlier this year, the United States Treasury announced that the U.S Mint would stop making pennies. The plan was to stop production in early 2026. But penny production stopped in June.
Gerson Gibbs, senior managing partner at Belite Capital, says it’s saving the country millions of dollars.
“The government is trying to save money, and it costs four cents to make pennies, and it saves about $56 million to halt production," Belite said.
So, what are stores doing to make “cents” of this? For one, ShopRite is giving its customers suggestions on how to deal with the penny pinch.
When you go into stores, you’ll see a sign asking customers to consider paying with exact change or with a debit or credit card. They're also encouraging customers to bring extra pennies to the customer service desk for purchase.
"A lot of people are speaking to legislation trying to get the Common Cents Act passed, that way they can round up or round down, depending on the amounts," Gibbs said.
So next time you’re at ShopRite, bring your jar of pennies for an even trade, because it adds up.
