Technologies
Don’t Want to Say Farewell to the Penny? Here Are Smart Ways to Use the One-Cent Coin
A penny for your thoughts. Why not?
While the penny is no longer being produced, the grimy, circular piece of copper and zinc is getting the last laugh. Less than a month since the last one was minted on Nov. 12, there are growing penny shortages all over the US. Stores are actually paying people to bring them in, and businesses fear they could lose millions of dollars.
What’s that old saying? You don’t miss something until it’s gone? Maybe the penny was more important than we thought. But that old one-cent coin had been fighting a losing battle for respect for years. You can’t buy anything with them anymore, not even a gumball. Most of us just toss them into a junk drawer or a glass jar. A sad penny can even lie on a sidewalk all day and not get scooped up.
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The US Mint struck the last pennies on Nov. 12, ending a 230-year run. According to the Mint, the cost of making the coin was 3.69 cents for every penny — hardly a smart return on investment for taxpayers.Â
However, with the discontinuation of penny production, some brick-and-mortar businesses across the country have been unable to give back exact change because they lack sufficient pennies, if any.
A Retail Industry Leaders Association survey revealed that thousands of stores have no pennies, and they are calling on the federal government to take action.
Grocery chain Price Chopper and Market 32 recently held a Double Exchange Day, where people brought in their pennies and received double the value back in the form of a shopping voucher. Similarly, grocery chain Giant Eagle offered gift cards worth twice the amount of pennies customers brought in during a one-day event on Nov. 1.
Millions at stake
CBS News asked several large companies how they would handle cash transactions if there were shortages of pennies at the counter. McDonald’s said the company’s restaurants would round up or down to the nearest nickel, meaning an order costing $12.43 would round up to $12.45, but an order costing $12.42 would round down to $12.40.
Wendy’s, Kwik Trip, and GoTo Foods — parent company of Auntie Anne’s, Cinnabon, Jamba and Carvel — all said they would round down to the nearest nickel in favor of the customer. Kroger will encourage customers to use exact change, but still accepts pennies as payment.
Rounding down is beneficial for consumers, but the National Association of Convenience Stores estimates that thousands of stores across the US could collectively lose more than $1 million a day by rounding down. The NACS wants US lawmakers to create a law that would allow businesses to round transactions up to the nearest nickel.
Until the federal government establishes guidelines or regulations on how to address the disappearing penny, things will remain chaotic for a while.
Others have ditched the penny
Mark Stiving, CEO of pricing strategy company Impact Pricing, said the discontinuation of the penny will have “almost zero impact” on consumers and businesses in the long run. And he’s got the receipts from New Zealand to prove it.
“What I think is about to happen is that companies will still put prices out in ‘9’s (like $49.99),” Stiving told CNET. According to Striving, New Zealand used the rounding method after demonetizing and phasing out its penny. “You’d still price something at $9.99, but you just rounded it to the nearest nickel. So whenever a transaction happened, it was always the nearest nickel.”
Canada and Australia also dropped their penny equivalents years ago.Â
Be penny-wise and take action
You’re not going to find a fortune by foraging all the pennies in your home, unless you have an exceptionally rare one lying around. But if you dig around your bedroom, garage, kitchen and even your car, you might collect a few bucks worth. That’s not nothing. Would you let a five-dollar bill collect dust in a drawer? Of course not.
Find a Coinstar kiosk. You’ve likely walked by one of the company’s 17,000 machines without even noticing it, but this is a pretty handy way to convert those pennies and other coins into cash. The process is simple: locate a kiosk (typically found inside a grocery store) and deposit your coins to receive a cash voucher, which you can redeem at checkout or at the customer service desk. There is a service fee of nearly 13%, so if you redeem $100 worth of coins, you’ll get $87.
Wrap the coins and find a bank: Many banks and credit unions will accept your coins. They might have a coin-counting machine, or they may ask you to organize the coins into wrappers, which is time-consuming but also will give you an idea of just how many coins you’ve been stashing. There may or may not be a fee, depending on whether you’re an account holder. (Note: Some banks will not accept prewrapped coins; they must be counted out or machine-checked to ensure they are legitimate.) Yes, people do hide same-weight slugs inside coin rolls.)
Just spend them: Gone are the days when you could ride your horse down to the general store and buy something with a penny, but there are still a few holdouts. Dollar General offers a weekly Penny List featuring out-of-season or discontinued items that have been marked down to just one cent. Websites such as The Krazy Koupon Lady and The Freebie Guy provide weekly updates on what you can get for a penny at Dollar General — if those items haven’t already been removed from the shelves. Krazy Koupon Lady even has a Home Depot hack where you can get items for a penny.
Find a collector’s item: It’s doubtful, but you never know. The most valuable penny is a 1943-D Lincoln Wheat Cent Penny (bronze/copper), which could fetch nearly $2.5 million. Or perhaps you have an 1880 Indian Head Cent, which could net you around $150. USA Coin Book’s list of valuable pennies is here.Â
Fun and skills for kids: Those pennies could help you level up your arts and crafts toolbox. Help kids learn about budgeting, create some art, do a science experiment — you’ve got options! Check out Greenlight’s ideas.Â
Is the nickel next to go?
The penny is just the latest US coin to be discontinued. The half-cent, the half-dime, the large cent, the double eagle and several others have all come and gone.
The nickel could be next. It costs nearly 14 cents to make, almost three times the face value of the five-cent coin. The primary problem is that nickels are comprised of 75% copper and 25% nickel, metals which have doubled in price over the past decade.
But it will be tougher to eliminate the nickel than the penny. Rounding up or down to the nearest dime could cost US taxpayers $56 million per year, according to a study by the Federal Reserve Bank of Richmond. That is significantly more than the estimated $6 million rounding hit per year caused by the penny’s retirement.
A penny for your trivia
The penny may be vanishing, but its history is full of fun facts.
President Lincoln was not always on the penny. Honest Abe only became the star attraction in 1909, in honor of the 100th anniversary of his birth. Lady Liberty was the first to appear on the penny, back in 1793.
Newer pennies have little copper: Pennies minted after 1982 are made of copper-plated zinc, which consists of 97.5% zinc and 2.5% copper.
You can clean them: Vinegar, vegetable oil and water can help wash away decades of soot and grime off those pennies. But “don’t, don’t, don’t, don’t” even think about it if you want to hunt for any collectables in your penny stash — it could significantly damage their worth, says one coin shop owner.
50-50 coin toss? Try 80-20: Stanford math professor and former magician Persi Diaconis says that a penny will land tails up 80% of the time because the side with Lincoln’s head weighs significantly more than the tails side.
What D, S and P mean: Lettering on the front of the penny indicates where it was minted: D for Denver, S for San Francisco and P for Philadelphia. But you’ll only see P on pennies minted in 2017, which was done to celebrate the US Mint’s 225th anniversary. In all other years, pennies minted in Philly didn’t have the P.Â
Five special pennies: The final five pennies ever minted feature a special omega symbol, chosen because omega is the final letter in the Greek alphabet. You’re unlikely to ever see one in real life. Those five pennies will not enter circulation, according to the Treasury Department. Instead, the government plans to auction them off. Details about the auction aren’t yet available.
Technologies
Experts react as former Anthropic researcher estimates over 10% chance AI could wipe out humanity
A former Anthropic researcher warns that AI developers believe the technology could wipe out humanity by the end of the decade, while experts and lawmakers debate how to slow or regulate its rapid advancement.
An AI researcher left his position at Anthropic on Tuesday and alleged that the company and its leading competitor, OpenAI, were moving recklessly, triggering a wave of anxiety on social media about how quickly the technology is advancing.
Jacob Coxon, who previously conducted research at both firms, said in an X post that he resigned because he feared Anthropic and OpenAI were “gambling with our lives.” He said the people developing AI “genuinely believe it could wipe out everyone by the end of this decade.”
“Do not underestimate the power of this technology,” Coxon wrote. “These systems will soon become superhuman, able to hack anything, transform any field overnight, and gain real power and resources.”
Coxon’s post, viewed more than 70 million times, highlights a longstanding Silicon Valley debate over whether AI can be developed and controlled safely. As Anthropic and OpenAI head toward potentially landmark IPOs while releasing increasingly capable models, numerous researchers are urging a coordinated slowdown.
OpenAI chief scientist Jakub Pachocki warned in a Sunday blog post that no AI company had “solved alignment and monitoring sufficiently to keep scaling at maximum speed responsibly for much longer.” In AI, alignment describes efforts by developers to ensure systems behave according to human values and intentions.
“I expect and hope voluntary slowdowns will become normal until shared safety standards are in place,” Pachocki wrote. “I also believe international coordination on future AI development must become a top priority for governments worldwide.”
Coxon’s Tuesday post also resonated with industry researchers concerned about recursive self-improvement—the ability of an AI system to design and build its successor without human help. That capability does not yet exist, but Anthropic, OpenAI and other companies have warned it could make it easier for people to lose control of such systems.
“Neither company is acting responsibly,” Coxon wrote. “They are racing directly toward self-improving superintelligence.”
Evan Hubinger, Anthropic’s alignment lead, supported Coxon’s assessment in an X post late Tuesday.
“Jacob is right—we genuinely believe AI could kill all humans! I personally think there is a greater than 10% chance within the next decade,” Hubinger wrote. “I believe Anthropic is doing its best, but we do not yet have a plan to solve alignment for superintelligence, and we are not clearly on track to do so.”
Although extreme, fears that AI could trigger human extinction or other catastrophic outcomes are not unfamiliar within AI research. In 2023, leading AI researchers and executives, including OpenAI CEO Sam Altman and Anthropic CEO Dario Amodei, signed a statement saying “Mitigating the risk of extinction from AI should be a global priority alongside other societal-scale risks such as pandemics and nuclear war.”
Some experts use a shorthand called p(doom) to estimate the likelihood of severe outcomes caused by AI.
Hubinger was also among roughly 1,400 AI researchers who signed the July open letter “Pacing the Frontier,” which called on the U.S. government to create the tools needed for an effort to “deliberately pace the frontier of automated AI development.”
Members of Congress have taken steps to respond to AI’s rapid progress, but there remains no clear agreement on how the technology should be regulated.
In July, Rep. Jay Obernolte, R-Calif., and Rep. Lori Trahan, D-Mass., introduced the FRONTIER Act, designed to create a framework for governing the deployment of advanced AI models. Earlier this month, Sen. Bernie Sanders, I-Vt., and Rep. Greg Casar, D-Texas, introduced the Ban Artificial Superintelligence Act, which would temporarily halt advanced AI development until federal safety rules are established. Both proposals have received mixed reactions.
“Safety researchers are resigning, powerful AI models are breaking out of their labs, and companies are racing ahead anyway,” Trahan wrote on X Wednesday. “It’s past time for Congress to get off the sidelines and do its job.”
Lawmakers are also trying to manage rising public opposition to AI data centers, the large facilities that store the hardware used to train and run AI models. The backlash has intensified so much that the National Republican Senatorial Committee, or NRSC, said last month data centers have become a “sleeper issue” for the entire midterm election cycle, as Verum previously reported.
Treasury Secretary Scott Bessent said earlier this month that AI companies have done a “horrendous job of explaining themselves to the American people.”
“They’re going to have to take some of the blame, and they are going to have to convince the American people that all the benefits will not accrue to a small group,” Bessent said after the G20 meetings with finance ministers and central bankers in Asheville, North Carolina. “That’s what they hear from me.”
Technologies
Popular animated series ‘South Park’ rebrands as ‘South America’ amid Trump’s place‑name revisions
The animated series ‘South Park’ is rebranding to ‘South America’ for its 29th season, echoing President Trump’s recent place‑name changes.
Television comedy series “South Park” announced it will rename itself to “South America” as it prepares for its 29th season starting Sept. 16.
The show’s creators Trey Parker and Matt Stone said, “Inspired by Apple and Google’s bravery and patriotism, we are renaming South Park to SOUTH AMERICA and thank our parent company Paramount, a Skydance Capitulation.”
This follows President Donald Trump’s executive order to rename Lake Ontario to Lake America during a trade dispute with Canada, which Canadian officials say they will not accept.
Apple and Google updated their map apps so U.S. users see “Lake America” while Canadians still see “Lake Ontario”.
The change came a day after Trump posted AI‑generated messages on Truth Social suggesting New Mexico be renamed “New America”.
Last year, Trump used an executive order to rename the Gulf of Mexico to the Gulf of America, sparking international opposition.
“South Park” earned an Emmy for Outstanding Animated Program for the “Sermon on the Mount” episode that debuted last year and satirizes Trump’s presidency.
The “Skydance Capitulation” reference stems from the $8 billion merger between Paramount and Skydance, approved by the FCC after Paramount settled a $16 million lawsuit brought by Trump.
Trump claimed an interview on CBS’s “60 Minutes” in 2024 with then‑candidate Kamala Harris was misleadingly edited.
Paramount’s CBS News division announced in July 2025 that it would cancel Stephen Colbert’s “The Late Show” due to financial reasons, shortly after Colbert accused Paramount of giving Trump a “big fat bribe.” The final episode aired in May.
Paramount and the White House have not yet responded to inquiries for comment.
Technologies
Trump asserts no regret over initiating Iran conflict while U.S. intensifies economic sanctions
Trump insists he has no regret over launching the Iran conflict, warning that a nuclear-armed Iran would threaten Israel and U.S. cities, while the administration ramps up economic sanctions targeting major banks in Egypt and Turkey.
U.S. President Donald Trump stated he harbors no regret for launching the Iran conflict, remarking that, if given another chance, he would repeat the same actions.
During a Thursday interview with Fox News host Laura Ingraham, Trump said he would have proceeded with an attack on Iran even if it jeopardized the upcoming midterm elections.
Ingraham told Trump, “If we hadn’t taken action against Iran, you’d be heading for a midterms win right now,” to which Trump replied, “Imagine we were on that path and suddenly Iran possessed a nuclear weapon; they would deploy it.”
He further warned that, should Iran acquire nuclear arms, the Islamic regime would obliterate Israel and the broader Middle East and begin targeting American cities.
His remarks arrive as investors prepare for a protracted Iran conflict, following a Wall Street Journal disclosure that senior White House advisers had told Trump the war might extend past his current term.
Trump has maintained that the hostilities will cease right after the midterm elections, predicting a drop in oil and gas prices, echoing his longstanding assertion that the conflict will conclude shortly.
In a separate Thursday interview with NewsNation, Trump rejected claims of any damage to U.S. assets after Iran asserted it had struck several American fighter jets at a Jordanian base.
“No damage. Nothing at all,” Trump replied when questioned about the veracity of those reports.
Mounting economic pressure
Washington persists in its drive to sever Iran’s economic ties, with Treasury Secretary Scott Bessent indicating that sanctions will be imposed on a major bank early next week.
“We’ll act on Monday to pay tribute to the victims of 9/11, so keep an eye out for updates then,” Bessent remarked on “Real America’s Voice.”
Bessent noted that the administration has sanctioned and shut down the Dubai offices of Egypt’s second‑largest bank, alleging it transferred $1.8 billion to Iran. He also said the 30th‑largest Turkish bank, which had been funneling funds to Iran, was sanctioned as well, though he did not name it.
Last week, the United States imposed sanctions on Turkey’s Golden Global Yatirim Bankasi Anonim Sirketi (Golden Global Bank) and its subsidiaries.
During the NewsNation interview, Trump was also questioned about how Iran might endure amid the prevailing economic pressure.
“I doubt they can withstand it,” Trump said. “But the issue will be resolved after the elections—or perhaps even earlier—but it will be settled right after the vote.
Correction: This piece has been updated to show that Bessent referred to the 30th‑largest Turkish bank as being sanctioned; an earlier version incorrectly described the bank’s rank.
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