Military Exchanges End Penny Use -- Cash Rounded to Nickel

The penny has officially dropped for the last time. After 238 years, the U.S. Mint has stopped producing the coins. Why? Today, a single cent buys nothing. And producing a penny actually costs nearly four cents. Ending production saves the government millions. So, what does this mean in military exchanges? Starting January 1st, Army and Air Force exchanges will round cash purchases to the nearest nickel. Navy exchanges will follow soon. Overseas exchanges? They've been rounding since the 80s. So nothing changes there. Don't worry. Pennies aren't gone. The 300 billion of them already in circulation will keep changing hands for years. Just not at your military exchange.