The penny was one of the first coins put into circulation by the U.S. after the passage of the Coinage Act in 1792. In February 2025, Republican President Donald Trump directed the Treasury Department to end the minting of new pennies. The last penny was produced on November 12, 2025; however, according to the American Bankers Association, there are still about 250 billion pennies still in circulation. Since the announcement that the penny would be discontinued, 24 states have introduced legislation that would require the rounding of cash transactions to the nearest five cents, which is also known as “Swedish rounding.” This is to prevent probiems arising where a retailer may otherwise be unable to provide exact change due to pennies no longer being available. While no states have yet enacted a penny rounding law, a bill containing penny rounding requirement provisions is pending action from Indiana Republican Gov. Mike Braun, who has until March 9 to act.
FOCUS will continue to monitor penny legislation in state legislatures across the country.
