BILLINGS — As McDonald’s begins rounding cash transactions to the nearest nickel at some locations nationwide, customers in Billings are taking the change in stride, with many saying they will not miss the penny.
Watch how some Montana residents are reacting to the new McDonald's policy:
The fast-food giant’s new policy affects only customers paying with cash who do not have exact change. Totals could be rounded up or down by a few cents to the nearest nickel. Credit card users and those who make purchases through the restaurant's app are not affected.
The move comes as the U.S. Treasury Department prepares to phase out production of new pennies by next year, citing the high cost of making them.
For Billings resident Vicki Burford, who stopped by the McDonald’s on Grand Avenue Monday afternoon, the change is not a concern.
“When I first heard about maybe not using pennies anymore, I was like, 'Oh no,' but the more I thought about it, the more I thought, 'What's the big deal?'" said Burford. "I pay with the card most places I go, and you round up for a tip or you round up for a charity, and so it's like, we really don't need pennies anymore.”
Lynn Angvick, who also visited the Billings location on Monday, said he was surprised to hear about the policy but agreed that fewer coins make sense in an increasingly digital world.
“I'm probably sorry to say I use my debit card for everything,” said Angvick. “Fifty-cent pieces, you hardly ever see them anymore, or even a dollar, and then pennies is going to be one of the last ones, I suppose.”
Financial experts say the shift reflects broader changes in consumer habits and currency circulation in the U.S. Kevin Guenthner, chief information officer for Stockman Bank in Billings, said rounding is becoming an increasingly practical solution for businesses as using coins becomes less common.
"If you're at $2.99, you're just going to say $3. Everybody knows it's $3, right? They don't take the penny anyway," said Guenthner. 'When the businesses start doing that, commerce is that way, it just continues to accelerate the decline of the penny, the circulation, the kind of circulation, and eventually, it will cease to be circulated."
Guenthner said that while people still use the coin, the move also highlights their high production costs.
“Pennies are still around. You can still use them, right? But it's probably high time considering it costs two and a half to three cents to make them," said Guenthner.
Local banks have already noticed the impact. Guenthner said Stockman still accepts and hands out pennies. The bank's Helena branch recently reported that it would not be shipping pennies anymore, and Guenthner said he could see the Federal Reserve doing the same to other branches. He's also seen a high demand from consumers over the past month.
"About wanting the penny, coming in and asking for pennies. We've had to limit that, limit how many we'll just give out. We're trying to keep it for our businesses," said Gunethner.
While some customers may feel “short-changed,” most in Billings say the change is just another sign of the times.
"As we move towards faster, more modern ways to exchange value, currency value, I think it was just a natural step," said Guenthner. “Their value might go up because they're no longer currency, no longer worth a penny, they're worth a collector's price, so we'll see what happens."
“It's just history, I guess. It's just another chapter," said Angvick. "Coins [are] just fading out."
