You’re right on the money—literally! It’s wild to think about, but the U.S. Mint did officially stop manufacturing pennies last year because it was costing nearly four cents just to make a single one.
With the federal supply dried up, Governor DeSantis just signed SB 1074 into law last week, giving Florida businesses a framework to deal with the shortage.
For cash transactions, the state is officially adopting a math-class style rounding system to the nearest nickel:
The Florida Cash Rounding Rules
- Ends in .01 or .02: Rounds down to .00
- Ends in .03 or .04: Rounds up to .05
- Ends in .06 or .07: Rounds down to .05
- Ends in .08 or .09: Rounds up to .10
A couple of quick things to keep in mind:
- It’s cash-only: If you use a debit card, credit card, or digital payment, you will still be charged the exact cent amount.
- Pennies aren’t illegal tender: You can actually still spend the ones you have sitting in your cup holder or piggy bank; banks and stores just won’t be handing them back to you as change anymore.
It is going to be a bit of an adjustment at the cash register, but countries like Canada have been doing this for years without the sky falling. Are you noticing a lot of local shops in the area adjusting their registers or putting up signs for it yet?