Bay Area pressed penny souvenir business facing end of penny production in 2026
San Francisco Pressed Penny Souvenir business reacts to the end of the penny
San Francisco Pressed Penny Souvenir business reacts to the end of the penny
San Francisco Pressed Penny Souvenir business reacts to the end of the penny
For Matt Sengbusch's business, dollars have never made sense, but coins do — particularly the penny.
He uses them to operate more than 50 penny pressing machines throughout the Bay Area. The most popular one is located on Pier 39.
People pay 51 cents for the machine to press pictures of tourist attractions into stretched pennies. It's a pocket-sized souvenir that can last a lifetime.
But soon, finding pennies to use might be more pressing than the machine. The U.S. Mint in late May said that they've ordered their last copper stock to make the penny. The decision came from President Donald Trump in February, citing costs.
The coin costs more to make than it's worth. The US spends about 4 cents for every penny, which is only valued at 1 cent.
The move is expected to save the US $56 million a year, but it'll cost Sengbusch dearly. He makes between $10,000 to $15,000 annually from the business.
"The other part of this, besides pennies, is the quarters," Sengbusch said.
He supplies businesses on the pier with quarters, and as for the pennies, he said he plans to buy copper blanks to replace the penny.
"If it were just for the money, I wouldn't do it," he said.
But business aside, moving away from the penny represents a break with tradition and a parting with a staple of US history, which is something he doesn't know if he's ready to embrace.
"These are like the last pennies ever, like new ones," Sengbusch said, opening a new roll of pennies.
Penny production will stop in 2026, forever changing the landscape of the coin-operated world Sengbusch loves.
He said he will keep using them until the coin falls out of circulation. For now, it just makes sense.
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