USPS adopts penny-rounding policy for cash transactions

By Linn’s Staff

The United States Postal Service has implemented a new penny-rounding policy at its retail counters following the cessation of penny production by the U.S. Mint.

Effective Dec. 12, the policy applies only to cash transactions and only when pennies are unavailable. Under the new rules, change due to customers is rounded to the nearest 5¢ increment.

Amounts ending in 1, 2, 6, or 7 cents are rounded down, while amounts ending in 3, 4, 8, or 9 cents are rounded up. If a total cash purchase is less than 5¢, the amount is rounded up to 5¢ unless the customer pays with exact change.

The policy does not apply to credit card, debit card, or check payments, which continue to be processed to the exact amount owed.

Pennies remain legal tender and are still accepted by the Postal Service as payment.

The change follows the U.S. Mint’s decision to cease production of the 1¢ coin on Nov. 12. The penny was first introduced in 1793.

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