Blogging for Change

Paying with pennies

by Kim McGrigg on
9/2/2008
in Personal Finance

Last night, I saw a funny TV commercial promoting a 1 cent sale. In the ad, a man tries to pay his dinner bill with a bag full of pennies. The angered restaurant owner shouts “nobody does that!”

I couldn't help but to wonder why not. If a person has enough time and energy to haul around bags full of pennies, shouldn’t they count?

According to the myth-busting Web site Snopes, pennies can be used for making payments and must be accepted by the Federal Reserve System. However, this does not mean that individual merchants must accept pennies as payment. Bottom line is that businesses can choose how they wish to be paid.

In fact, trying to hold things up by paying with pennies has gotten a few people in trouble. Just ask the 29 eighth-graders who got detention for trying to pay for their hot lunches with pennies.

For more penny pranks, check out these hidden camera videos where a “copper topped” spokesperson from OfficeMax tries to pay for things with pennies. At the end of each video, OfficeMax says “we take pennies.” I wonder how many people have tried to test that theory.

Have you tried to pay for something with a lot pennies? If so, please share your experience through the comments section.

Kim McGrigg is the former Manager of Community and Media Relations for MMI.

Recommended Articles

Man sitting in front of pile of bills, trying to understand his options.
Professional Budget Advice
Make the most of every dollar and start building toward your dreams! Budget counseling is FREE and available 24/7.
Learn More
Learn more
  • Better Business Bureau A+ rating Better Business Bureau
    MMI is proud to have achieved an A+ rating from the Better Business Bureau (BBB), a nonprofit organization focused on promoting and improving marketplace trust. The BBB investigates charges of fraud against both consumers and businesses, sets standards for truthfulness in advertising, and evaluates the trustworthiness of businesses and charities, providing a score from A+ (highest) to F (lowest).
  • Financial Counseling Association of America Financial Counseling Association of America
    MMI is a proud member of the Financial Counseling Association of America (FCAA), a national association representing financial counseling companies that provide consumer credit counseling, housing counseling, student loan counseling, bankruptcy counseling, debt management, and various financial education services.
  • Trustpilot Trustpilot
    MMI is rated as “Excellent” (4.9/5) by reviewers on Trustpilot, a global, online consumer review platform dedicated to openness and transparency. Since 2007, Trustpilot has received over 116 million customer reviews for nearly 500,000 different websites and businesses. See what others are saying about the work we do.
  • Department of Housing and Urban Development - Equal Housing Opportunity Department of Housing and Urban Development
    MMI is certified by the U.S. Department of Housing and Urban Development (HUD) to provide consumer housing counseling. The mission of HUD is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD provides support services directly and through approved, local agencies like MMI.
  • Council on Accreditation Council On Accreditation
    MMI is proudly accredited by the Council on Accreditation (COA), an international, independent, nonprofit, human service accrediting organization. COA’s thorough, peer-reviewed accreditation process is designed to ensure that organizations like MMI are providing the highest standard of service and support for clients and employees alike.
  • National Foundation for Credit Counseling National Foundation for Credit Counseling
    MMI is a longstanding member of the National Foundation for Credit Counseling® (NFCC®), the nation’s largest nonprofit financial counseling organization. Founded in 1951, the NFCC’s mission is to promote financially responsible behavior and help member organizations like MMI deliver the highest-quality financial education and counseling services.