You may have heard that the U.S. Mint has stopped producing pennies. From the way businesses are acting, you would think that the coin has disappeared completely. Even though there must be millions of pennies still in circulation, already, stores are rounding up if customers pay with cash. Some even round up exclusively, ignoring the “round down” option entirely.
The “rounding up” process seems to incentivize people to pay with their credit cards — which costs the business fees. Isn’t it worth a few cents to forgive the extra pennies instead of rounding up to reward those who pay with cash?
It’s easy to go to the extreme when a change is announced, but before you react in the moment, allow time for the change to work through the system to determine what the actual impact will be. It’s nonsense to have a non-cents policy when there is still a drawer full of pennies.
