What does the end of penny production mean for consumers?

The U.S. Mint may soon stop producing pennies, raising questions about what it could mean for shoppers and prices at the register.

First Oklahoma Bank CEO Tom Bennett told News On 6 that while pennies would remain legal tender, the government would no longer be minting them. Bennett noted that each penny costs about three cents to make and that the U.S. is one of the last countries still circulating such a small denomination.

Some have wondered if prices would rise as businesses round up to the nearest nickel. Bennett said while small changes could occur, broader economic factors have a far greater impact.

“You do have inflation through tariffs anyway, and that’s a far bigger deal in terms of increasing consumers’ prices than just losing a couple pennies here or there,” Bennett said. “I