PITTSBURGH — As penny shortages grow nationwide, Giant Eagle announced it will host a one-day “Penny Exchange Day” on Saturday, November 1, at all more than 200 Giant Eagle and Market District locations. The event allows customers to exchange spare change for a Giant Eagle gift card worth twice the value of the pennies exchanged.
From 11 a.m. to 4 p.m., customers can bring in between 50 cents and $100 worth of pennies per transaction. Each exchange will yield a gift card valued at double the amount, from $1 up to $200.
“Retailers across the country are taking steps to maintain adequate supplies of pennies,” said Bill Artman, Giant Eagle President and CEO. “At Giant Eagle, we saw a unique and fun opportunity to reward customers for joining our efforts. We invite everyone to check their change jars, desk drawers, and couch cushions to help keep pennies available for those who choose to pay with cash.”
The move comes as the U.S. Department of the Treasury phases out production of pennies and the Federal Reserve limits deliveries of the remaining coins. These developments have already caused coin shortages in some areas. The National Association of Convenience Stores (NACS) recently warned that the lack of clear federal guidance could create operational confusion for retailers, as cash transactions may soon need to be rounded to the nearest nickel.
By collecting pennies proactively, Giant Eagle aims to sustain cash payment options and maintain fairness at checkout while awaiting the official rounding rules.
