OKLAHOMA CITY (KFOR) – Convenience stores appear to be feeling the pinch ever since the U.S. decided to phase out the minting of pennies.
An internal email passed on to KFOR shows Love’s and other retailers are dealing with a shortage of them. Love’s, for example, has experienced depleting vaults and having to round up change.
The argument to stop minting pennies in the U.S. dates back decades. The Trump administration decided back in May to phase out the process of making them. Last year, the U.S. Mint reported that it cost over 3.5 cents to make the penny. That’s up 20% from the previous year, and it marks the 19th consecutive year that the penny costs more to make than its face value.
The saying goes, “A penny saved is a penny earned.” Well, maybe not so much. An internal email from Love’s shared with KFOR shows that an emergency call was held with them and other retailers. They are being forced to round up change in favor of the customer, while a rate is depleting their bank vaults of about seven to eight per day. They expected shortages in mid-late 2026, but the timeline sped up, and now 54 stores have been affected, with more on the way.
An article from the National Association of Convenience Stores from September spells out the same issue. They say in the article that the final minting of pennies happened in June, with the last distributions in August. They claim supply shortages are emerging and are expected to increase. An official from the organization is quoted in the article saying, “NACS has raised industry concerns with Congress and the Administration and is advocating for federal legislation to permit the rounding of cash transactions.”
The internal email also indicated that most Love’s locations have a week’s supply of pennies on hand, but the situation is evolving.
“The U.S. Government stopping the production of pennies is a developing issue impacting retailers nationwide, including Love’s Travel Stops. At this time, only around 50 of Love’s more than 660 locations in 42 states are impacted. Currently, no Love’s locations in Oklahoma are impacted. If a store runs out of pennies, all change will be rounded up in favor of the customer.” Love’s said.
