President Donald Trump told the Treasury Department to stop making pennies, citing production costs.
* Giant Eagle is offering double the value in gift cards for customers who bring in pennies on November 1.
* The promotion comes as the U.S. government plans to phase out the penny by early 2026, causing shortages for retailers.
* Customers can exchange between 50 cents and $100 in pennies at Giant Eagle for a gift card.
Got pennies? Giant Eagle wants them, even if the federal government doesn't.
On Nov. 1 from 11 a.m. to 4 p.m., customers can bring in pennies to any Giant Eagle and Market District location. In exchange, they'll receive a Giant Eagle gift card equal to twice the value of the physical coins brought in.
The event comes as the U.S Department of the Treasury is phasing out the little Abe Lincoln likenesses, with plans to end production of pennies sometime in early 2026 after President Donald Trump called for the coin to be phased out. The Federal Reserve is already limiting penny deliveries to banks and commercial customers, and shortages are already being felt by retailers who still accept cash.
Ohio-based grocery chain Kroger has posted signs at their cash registers asking that customers paying with cash pay in exact change as their penny supply is impacted
Several national retail organizations sent a letter to the chairs of the congressional financial services and banking committees asking them to pass "a national law allowing businesses to round cash transactions to the nearest nickel" as pennies dwindle.
Banks will continue to accept pennies as long as they're in circulation, of which there are estimated to still be billions.
What else should I know about the penny exchange?
Customers must bring in a minimum of 50 cents in pennies to Giant Eagle locations on Nov. 1, which would result in a $1 gift card. Customers can bring in a maximum amount of $100 in pennies, which would mean a $200 gift card.
"Retailers across the country are taking steps to maintain adequate supplies of pennies," said Bill Artman, Giant Eagle President and CEO. "At Giant Eagle, we saw a unique and fun opportunity to reward customers for joining our efforts. We invite everyone to check their change jars, desk drawers, and couch cushions to help keep pennies available for those who choose to pay with cash."
Business and consumer issues reporter Samantha Hendrickson can be reached at [email protected]