Penny shortage across the US has retailers, banks struggling

Watch Penny shortage across the US has retailers, banks struggling - Straight Arrow News on Dailymotion

Transcript

00:00The penny's gone, and America's coming up short.

00:05Since President Trump scrapped production earlier this year,

00:08retailers and banks are scrambling for a loose change.

00:11Literally.

00:12Giant Eagle grocery stores in Pennsylvania are offering double-value gift cards for pennies this weekend.

00:18And at Sheetz, 100 pennies gets you a free pop.

00:22Banks say they're rationing what's left.

00:24Some stores are rounding down to the nearest nickel just to stay legal.

00:27Quick Trip says that move alone could cost them $3 million this year.

00:32Now, the irony is this.

00:34Businesses have wanted the penny gone for decades.

00:36It cost nearly four cents to make just one.

00:39But this abrupt goodbye with no real plan for a phase-out

00:42has left cash drawers and customers clinking for spare change, if you will.