Banks still stock pennies, but you may need to order them in advance
Yes, banks carry pennies. They order them from the Federal Reserve, and most branches will give you pennies if you ask. But the catch is real: many banks no longer keep large quantities on hand, and some tellers will tell you they have to order them for you, which takes a few business days. A few banks have stopped stocking them altogether, though this is rare.
The shortage is not because pennies are being discontinued — the U.S. Mint still produces them. The shortage exists because fewer people use cash, fewer businesses want to handle pennies, and banks have no reason to tie up money in coins that sit in a vault. If you need pennies today, your best bet is a bank branch where you have an account, or a retail store's customer service desk.
Key Takeaways
- Most banks will order pennies from the Federal Reserve if you ask, but it usually takes three to five business days.
- Some bank branches keep a small supply on hand and will exchange them for other coins or cash on the spot.
- Retail stores, particularly grocery stores and pharmacies, often have pennies available at the customer service desk without requiring an order.
- The penny shortage is driven by low cash use and the cost of handling coins, not by the U.S. Mint stopping production.
- Coin-counting machines at banks and retailers can help you convert loose change into pennies or other denominations.
Why banks have fewer pennies now than they used to
The penny shortage that began in 2020 was partly a supply-chain problem — the U.S. Mint reduced production during the pandemic, and coins got stuck in the financial system. But the real reason pennies are harder to find is structural: people stopped using cash. When fewer people pay with cash, fewer pennies circulate, and banks have less reason to stock them.
Banks also lose money on penny handling. A penny costs more to produce, ship, and store than it is worth. If a bank keeps 10,000 pennies in a vault, that is $100 tied up in a form of money that costs the bank more to manage than it generates in interest. Most banks now order pennies only when a customer requests them, rather than keeping a standing supply.
How to get pennies from your bank
Call your bank branch first. Ask whether they have pennies in stock and how many you can take. If they have them, go in person with your account card and ask the teller. Most banks will give you pennies in exchange for other coins or cash, or they will let you withdraw them from your account.
If the branch does not have pennies on hand, ask how long an order takes. Most banks can order from the Federal Reserve within three to five business days. Some branches charge a small fee for this service — usually $5 to $10 — though many waive it for account holders. Ask before you commit to the order.
Bring a container if you are taking a large quantity. A roll of pennies is 50 coins and weighs about 125 grams. If you need 1,000 pennies, that is 20 rolls and roughly 2.5 kilograms. Banks will usually provide coin wrappers, but it does not hurt to bring your own bag.
Retail stores and other places that have pennies
Grocery stores, pharmacies, and big-box retailers often keep pennies at the customer service desk. You can ask to exchange cash or other coins for pennies without an account or a wait. Some stores will do this for free; others may ask you to make a small purchase first. Call ahead if you need a large quantity.
Laundromats, arcades, and casinos have coin-exchange machines that can convert bills or other coins into pennies. These machines usually charge a small percentage — typically 5 to 10 percent — but they are fast and do not require a bank account.
Coin-counting machines at banks and retailers can also help. You dump your loose change in, and the machine counts it and gives you the option to take it as cash, a store gift card, or rolled coins. Some machines let you specify denominations, so you can ask for all pennies.
What to do if you need pennies regularly
If you handle cash regularly — for example, if you run a small business or collect coins — ask your bank about setting up a standing order. Some banks will deliver a set quantity of pennies to your account on a regular schedule, usually monthly. This costs more than a one-time order, but it saves you the trouble of calling each time.
Another option is to join a credit union. Credit unions tend to be more flexible about coin orders and often keep larger supplies on hand than banks do. If you do not have a credit union account, you can sometimes open one just to access their coin services.
The future of pennies and cash
The U.S. Mint has not announced plans to stop making pennies, despite the cost. Congress has resisted calls to eliminate the penny, partly because penny production supports jobs in the states where the Mint operates. As long as pennies are legal tender, banks are required to order them from the Federal Reserve if you ask.
That said, the long-term trend is toward less cash and fewer coins. Some countries have already phased out low-value coins — Canada eliminated the penny in 2013, and several European nations have stopped minting 1-cent coins. If the United States follows that path, it would take an act of Congress, and it is not imminent.
Frequently Asked Questions
Can I order pennies online from the Federal Reserve?
No. You order through a bank or credit union account. The Federal Reserve does not sell coins directly to the public. Your bank places the order on your behalf and charges it to your account.
How much does it cost to order pennies from a bank?
Most banks do not charge for penny orders if you have an account with them. Some charge $5 to $10 for large orders or if you do not have an account. Call your branch to ask about their specific policy.
Can I get pennies from a bank where I don't have an account?
Some banks will exchange coins for non-account holders, but most prefer to serve their own customers. Your best option is a retail store's customer service desk or a coin-exchange machine, which do not require an account.
Why does the U.S. Mint still make pennies if they cost more than a cent to produce?
Congress has kept penny production going despite the cost, partly because eliminating the penny would require a law and partly because penny production supports jobs. The Mint also argues that pennies remain useful for pricing and transactions, even as cash use declines.
How long does a penny order usually take?
Most banks can order pennies from the Federal Reserve within three to five business days. Some branches may have them faster if they order regularly. Ask your bank for their specific timeline when you place the order.