It’s safe to say that everyone has a stash of coins somewhere in their house. Maybe you have a piggy bank or an old jar where you keep them. It looks like it’s the end for the good old American penny.

After over 200+ years it looks like the penny will be going the way of the horse and buggy. Obsolete and no longer needed.
We really can’t be too surprised by this after all how often do you find yourself using coins? Now that most of us are living in either digital currency world or credit card and debit cards usage. The need for coins has diminished immensely.

if you find yourself in a checkout line and the person ahead of you is paying with cash and coins, you are probably looking at somebody in the 60+ year range. Most people under that age have given using coins and cash let alone pennies.

The Treasury said it just placed its final order of blanks this month.  And once those are minted, they're not making any more.  The last pennies are set to roll off the production line early next year.

The penny has been threatened to be canceled for a while now, so it doesn’t really come as a big surprise. This means that most prices will have to be rounded up to five cents. No longer can stores ask for prices that ends and $.99.

Nickels are not cheap either, in fact they cost about 14 cents to make, and there are people that believe that the nickel will be the next to be canceled, leaving only dimes and quarters.

None of this means pennies are going away anytime soon, by the way.  Around 114 billion are in circulation, and you'll still be able to use them.

It is pretty safe to say that pennies will remain in circulation for many years to come. It will take years for them to disappear. For some of us saving our pennies will be a hard habit to break.

(Fox Business / CNN)