Pennies losing their cents? Florida eyes rounding cash to the nearest nickel

Bill would require rounding up for penny shortage

Pennies may soon lose their place in your pocket under a bill passed by Florida lawmakers. FOX 13's Blake DeVine reports.

TALLAHASSEE, Fla. - Pennies may soon lose their place in your pocket. Cash could soon be rounded to the nearest nickel under a bill passed by Florida state lawmakers.

The proposal would allow businesses to round cash transactions up or down to the nearest five cents. It would only apply to cash payments, not credit or debit cards.

What we know:

The change followed a 2025 decision by the U.S. Mint to stop making pennies as production costs climbed to nearly four cents per coin.

Abigail Hall is an associate professor of economics at the University of Tampa. She says that shift resulted in a nationwide penny shortage.

What they're saying:

"It ultimately cost more to produce pennies than the pennies were worth," Hall said. "This has effectively led to a massive penny shortage."

She also points to the potential law changing how people pay, especially those who rely on cash.

"Cash consumers tend to be lower income individuals," Hall said.

"There is concern about inequality. Cash transactions are subject to this rounding procedure. If you're paying with credit or debit cards, this doesn't impact you at all."

Jeff Lenard is a spokesman for the National Association of Convenience Stores.

"There’s going to have to be some conversations between the customer and the retailer explaining how this all works," he said.

By the numbers:

Florida has over 9,000 convenience stores — the 3rd most nationwide — as many handle a large share of cash transactions.

"We’re at 40 to 50% inside the store in many locations that are cash," Lenard said. "The penny shortage is something that affects stores on a very regular basis."

He believes gains or losses from rounding should even out over time.

"Nobody wins, nobody loses," Lenard concluded. "It’s a new system, and it’s worked in Canada and other places for more than a dozen years."

What's next:

The new law would take effect immediately, if signed by Gov. Ron DeSantis.