Get Rid of Pennies: Smart Ways to Simplify Your Cash and Budget
To get rid of pennies without wasting time or money, start by deciding whether you want to spend them, redeem them, donate them, or store them for a specific purpose.
Contents
28 sections
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Why people want to get rid of pennies
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Quick decision rules: what to do with your pennies
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How to get rid of pennies (best practical options)
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Option 1: Spend pennies strategically
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Option 2: Roll pennies and deposit them
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Option 3: Use a coin-counting kiosk
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Option 4: Donate pennies
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Option 5: Keep a small "coin buffer" and stop the rest
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Comparison table: common ways to get rid of pennies
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How many pennies do you have? Real-number examples
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Scenario A: "Small jar" cleanup (about $3.50 in pennies)
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Scenario B: "Medium stash" (about $18 in pennies)
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Scenario C: "Big bucket" (about $60 in pennies)
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Checklist: minimize fees and friction
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Budget upgrade: replace penny clutter with simple systems
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System 1: Use "cashless by default" for routine spending
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System 2: Automate small savings instead of saving change
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System 3: Keep a "coins only" rule for one purpose
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Timeline decision rules (when pennies connect to bigger money goals)
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Under 1 year: prioritize cash flow and buffers
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1 to 3 years: reduce high-cost debt and stabilize
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3 to 7 years: save for planned goals
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7+ years: consider long-term investing (if appropriate)
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Common questions about pennies
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Is it legal for a store to refuse pennies?
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What if I think I have a rare penny?
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How do I avoid coin-counting scams or mistakes?
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A simple "pennies exit plan" you can finish this weekend
Pennies can quietly create clutter: in jars, car cupholders, and even in your budget if you keep rounding “someday” cash into your mental math. The good news is you have several practical options, and most people can choose based on convenience, fees, and how quickly they want the coins turned into something useful.
Why people want to get rid of pennies
Pennies are legal tender, but they are often more hassle than help. Here are the most common reasons people decide to move them out of daily life:
- Time cost: Counting and carrying pennies takes effort for very small purchasing power.
- Clutter: Coins pile up fast and make it harder to keep track of cash.
- Checkout friction: Exact change slows you down and can frustrate cashiers and people in line.
- Budget clarity: Rounding rules can make spending categories easier to manage.
- Opportunity cost: Coins sitting in a jar earn nothing and do not help you pay bills.
Quick decision rules: what to do with your pennies
Use these simple rules to pick a path in under a minute:
- You have under $5 in pennies: Spend them gradually or donate them at checkout.
- You have $5 to $25: Roll and deposit at your bank or credit union, or use a coin-counting kiosk if fees are reasonable.
- You have $25+: Compare bank deposit vs kiosk fees. If you can deposit for free, that usually wins.
- You need money today: A kiosk may be faster than rolling, but check the fee and payout method.
- You want the simplest long-term system: Stop accumulating pennies by using digital payments or a “round-up” savings feature instead of keeping change.
How to get rid of pennies (best practical options)
There is no single best method for everyone. The right choice depends on how many pennies you have, whether you can deposit coins for free, and whether you mind paying a convenience fee.
Option 1: Spend pennies strategically
If you only have a small amount, the easiest plan is to spend them in low-pressure situations:
- Use pennies for self-checkout where the machine accepts coins.
- Use them at a coin-operated car wash or laundromat if accepted.
- Use them for small purchases where you are not holding up a line.
Tip: Pre-sort into $1 baggies (100 pennies) so you can grab a small amount when you plan to use cash.
Option 2: Roll pennies and deposit them
Rolling pennies takes time, but it can be the lowest-cost way to convert coins into spendable money.
- Ask your bank or credit union whether they accept rolled coins and whether there are limits.
- Get paper coin wrappers (often free at branches, or low-cost at office supply stores).
- Count carefully: a standard penny roll is 50 pennies = $0.50.
Before you roll, confirm whether your institution requires customer accounts, whether they charge coin handling fees, and whether they accept loose coins in a lobby machine.
Option 3: Use a coin-counting kiosk
Coin-counting kiosks can be fast, but fees vary and the payout method matters. Some kiosks offer:
- Cash payout (often with a fee).
- Gift card payout (sometimes with lower or no fee, depending on the kiosk and retailer).
- Donation option to a charity partner.
Decision rule: If the kiosk fee would cost you more than the value of the time you save, rolling and depositing may be better.
Option 4: Donate pennies
If your goal is to declutter and you do not need the cash, donating can be the cleanest solution:
- Checkout donation boxes at grocery stores.
- School fundraisers and local nonprofits.
- Community drives (food banks, shelters, youth programs).
If you want a record for tax purposes, ask the organization for a receipt and follow IRS rules for charitable contributions. You can learn more at IRS guidance on charitable organizations.
Option 5: Keep a small “coin buffer” and stop the rest
Some households like having a small coin stash for parking meters, school events, or tips. A practical approach is to cap it:
- Keep up to $5 to $10 in mixed coins in a labeled pouch.
- When it exceeds the cap, redeem or donate the overflow.
Comparison table: common ways to get rid of pennies
| Option (named examples) | Best fit | What to compare | Main drawback |
|---|---|---|---|
| Bank or credit union coin deposit (Chase, Bank of America, Wells Fargo, local credit unions) | You want low fees and already bank locally | Coin acceptance rules, account requirement, any coin handling fees | May require rolling or may not accept coins at all locations |
| Coin-counting kiosk (Coinstar) | You want speed and have a kiosk nearby | Cash-out fee, gift card options, donation partners, machine accuracy steps | Fees can reduce your total; not every store has one |
| Retail self-checkout coin payment (Walmart, Target, Kroger) | You have a small amount and shop regularly | Whether the machine accepts coins, time at checkout | Not ideal for large amounts; can be slow |
| Donation at checkout or local nonprofit (Goodwill donation counters vary by location) | You want decluttering more than cash value | Receipt availability, donation handling | You give up the money value |
| Mail-in or bulk coin services (some regional banks or armored services for businesses) | You have very large volumes (often business use) | Service fees, minimums, turnaround time | Usually not worth it for typical households |
How many pennies do you have? Real-number examples
It helps to estimate the value before you choose a method. Here are quick reference points:
- 100 pennies = $1
- 500 pennies = $5
- 2,000 pennies = $20
- 5,000 pennies = $50
Scenario A: “Small jar” cleanup (about $3.50 in pennies)
You have roughly 350 pennies. A simple plan:
- Keep $1.00 (100 pennies) as a coin buffer for odd cash moments.
- Use $1.50 (150 pennies) over the next two grocery trips at self-checkout.
- Donate $1.00 (100 pennies) at checkout or to a school drive.
Total: $1.00 + $1.50 + $1.00 = $3.50.
Scenario B: “Medium stash” (about $18 in pennies)
You have about 1,800 pennies. A practical split that reduces hassle:
- Roll and deposit $10.00 (1,000 pennies) at your bank if accepted.
- Use $5.00 (500 pennies) gradually at self-checkout.
- Donate $3.00 (300 pennies) to a local nonprofit.
Total: $10 + $5 + $3 = $18.
Scenario C: “Big bucket” (about $60 in pennies)
You have around 6,000 pennies. This is where fees and time matter:
- If your bank accepts coin deposits with no fee, deposit the full $60.
- If you must pay a kiosk fee for cash, consider splitting: deposit what you can for free and use a kiosk for the rest.
- If you choose gift cards at a kiosk, verify which retailers you actually use so the value does not sit unused.
Example allocation if you can deposit some for free:
- Deposit $40 (4,000 pennies) at a credit union that accepts rolled coins.
- Kiosk convert $15 (1,500 pennies) for speed.
- Donate $5 (500 pennies) to finish the job and avoid extra sorting.
Total: $40 + $15 + $5 = $60.
Checklist: minimize fees and friction
| Question | Why it matters | Good rule of thumb |
|---|---|---|
| Does my bank accept coins at my branch? | Some branches do not handle coins or require rolling | Call ahead and ask about coin deposit rules |
| Will I pay a coin-counting fee? | Fees reduce your total value | Prefer free deposit when available; otherwise compare fee vs time saved |
| Do I need cash today? | Speed can matter if you are short for a bill | If urgent, kiosk may be worth it; if not, roll and deposit |
| Is a gift card payout actually useful? | Unused gift cards can become “dead money” | Only choose gift cards for stores you use monthly |
| Am I keeping pennies because I do not track spending? | Coin jars can hide small leaks in the budget | Switch to a simple spending plan and automate savings |
Budget upgrade: replace penny clutter with simple systems
Getting rid of pennies is easier if you stop creating them. These systems can reduce coin buildup while keeping your budget realistic.
System 1: Use “cashless by default” for routine spending
- Use a debit card or credit card for groceries, gas, and pharmacy purchases.
- Set a weekly spending limit for discretionary categories.
- Review transactions once a week so small purchases do not pile up unnoticed.
If you use a credit card, compare interest rates and fees carefully and aim to pay the statement balance when possible so interest does not erase the convenience.
System 2: Automate small savings instead of saving change
Many banks and apps offer round-up features that move spare change into savings. Common places to look:
- Bank of America Keep the Change (availability and terms vary)
- Chase round-up style tools (features vary by account and app)
- Acorns (investment app with round-ups, fees apply, eligibility varies)
Compare monthly fees, minimums, and where the money goes (savings vs investing). If you invest round-ups, remember that investment values can go down as well as up.
System 3: Keep a “coins only” rule for one purpose
If you like the habit of saving change, give it a job so it does not become random clutter:
- Parking and transit
- Kids’ school events
- Annual donation jar
Decision rule: If the jar is not tied to a purpose, it usually becomes procrastination.
Timeline decision rules (when pennies connect to bigger money goals)
Pennies are small, but the habit behind them can connect to your broader plan. Use these timeline rules to decide where redeemed coin money should go.
Under 1 year: prioritize cash flow and buffers
- Use the money for groceries, transit, or a small bill.
- Build a starter emergency fund, often $250 to $1,000, before focusing on investing.
1 to 3 years: reduce high-cost debt and stabilize
- If you carry high-interest credit card debt, extra cash can help reduce balances.
- Build toward 3 to 6 months of essential expenses in an FDIC-insured savings account.
To learn how deposit insurance works and what is covered, review FDIC deposit insurance basics.
3 to 7 years: save for planned goals
- Car replacement fund, moving costs, or a home down payment plan.
- Keep goal money in accounts that match your risk tolerance and timeline.
7+ years: consider long-term investing (if appropriate)
- Retirement accounts and diversified investments may fit longer timelines.
- Focus on consistent contributions and fees rather than tiny short-term market moves.
Common questions about pennies
Is it legal for a store to refuse pennies?
Policies vary. Many businesses can set reasonable rules about what forms of payment they accept, especially for large quantities of coins. If you plan to pay with a lot of pennies, call ahead or choose a self-checkout machine designed to accept coins.
What if I think I have a rare penny?
Most pennies are worth face value, but a small number can be collectible. If you suspect a coin is unusual (error coin, older date in great condition), separate it and verify with a reputable coin reference or local coin dealer before cashing everything in.
How do I avoid coin-counting scams or mistakes?
- Count a small test batch first to see if the machine output seems reasonable.
- Keep the receipt and confirm the payout method before you pour in coins.
- Use well-known locations and machines that provide clear receipts.
If you run into a billing or payment dispute with a financial product, you can find complaint and help resources at the CFPB. For general consumer guidance, see the FTC’s consumer advice.
A simple “pennies exit plan” you can finish this weekend
- Gather: Collect pennies from jars, drawers, and the car.
- Estimate: Decide if it is a small (under $5), medium ($5 to $25), or large ($25+) pile.
- Choose a path: Deposit, kiosk, spend, donate, or a mix.
- Set a cap: Keep at most $5 to $10 in coins for specific needs.
- Prevent rebuild: Switch routine spending to card or automate round-ups if it fits your budget.
Once your pennies are gone, the bigger win is the system you put in place so they do not quietly return.
