By Geoff Herbert, syracuse.com
A grocery store chain collected nearly 20 million pennies from customers and gave them twice the money’s value back.
Price Chopper and Market 32 says it collected $197,400 worth of pennies from customers on “Double Exchange Day” Sunday, Nov. 16. In exchange, shoppers received double their value, or $394,800, in gift cards for store credit.
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According to WRGB, Price Chopper said the tradeoff will help customers with their holiday budget while also replenishing the supermarket’s supply of 1-cent coins.
Many stores and banks are facing a growing penny shortage after President Donald Trump ordered the U.S. Treasury to stop producing pennies due to rising costs. The U.S. Mint produced America’s final pennies last week.
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The convenience store chain Sheetz recently got so desperate for pennies that it briefly ran a promotion offering a free soda to customers who exchange 100 pennies for a $1 bill.
Other stores and restaurants, including Aldi and McDonald’s, have resorted to rounding up or rounding down to the nearest five cents (or nickels) when pennies aren’t available as change. All other payment methods, such as credit cards and digital wallets, are processed as usual.
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“Cash transactions remain an important part of how we serve our customers, and for those who prefer to pay with cash, we want to make sure we can continue providing the same great checkout experience — right down to the penny,” Blaine Bringhurst, president of Market 32 and Price Chopper, said in a statement.
“The Double Exchange Day gives our customers an opportunity to partner with us in that effort while being rewarded for supporting us in managing our coin inventory responsibly as the nation prepares for the phaseout of pennies.”
Double Exchange Day took place at all 129 Price Chopper and Market 32 locations in Connecticut, Massachusetts, New Hampshire, New York, Pennsylvania, and Vermont.
The deal was not offered at Tops Friendly Markets, despite Tops and Price Chopper merging in 2021 to become Northeast Grocery, Inc. The company still operates both brands, though several stores have since closed including a Price Chopper in Clay in 2024 and a Tops in DeWitt in April.
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