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BUDGETING AND SAVING

What the end of the penny means for you

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We love smart money moves, especially when they save taxpayers money. In 2025, the federal government officially stopped minting pennies, saving Americans an estimated $56 million a year. It’s not that we have anything against this copper-coated coin, but when it costs 3.69¢ to make something with a 1¢ value, the math simply doesn’t add up.

How will a post-penny world affect your everyday life? Let’s take a closer look.

You can keep paying with pennies.

Pennies are still legal tender. With some 300 billion still in circulation—enough to build an NFL stadium—they’ll be around for years to come.

You won’t get rich holding onto regular pennies.

Sets of the last minted pennies sold at auction for as much as $800,000, but your penny-filled piggy bank isn’t likely to skyrocket in value. According to collectors, the coins that sell for top dollar typically involve historic firsts or famous errors, like these:

  • 1909-S Lincoln wheat penny—The first coins to feature President Abraham Lincoln
  • 1914-D wheat penny—An extremely rare penny from the Denver Mint
  • 1943 copper and 1944 steel pennies—A small number of coins minted with the wrong metals during World War II

How Flagstar branches are handling pennies.

Although we can no longer order new pennies from the U.S. Mint, we’ll continue providing them to customers as long as we have them in stock. If a branch runs out, we’ll use nickels to return as much change as possible and deposit any remaining cents into your account.

If you’re not a customer and need to cash a check, we’ll round our fees down to the nearest nickel. (There’s no check-cashing fee for customers with active accounts.)

Although it may be a long time before the penny disappears, we’re happy to salute its impressive 232-year run. But watch out, nickels. With a production cost of 13.78¢ each, you might be next!

Make every penny count with Round Up with Flagstar®

Round Up with Flagstar helps you boost your savings every time you spend. Whenever you make a purchase with your Flagstar Visa® debit card, we’ll round the total up to the nearest dollar and put the difference into your savings account. This free debit card perk makes it easy to save, and you can opt in or out anytime. To learn more, visit Round Up with Flagstar.

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Earn 3.20% APY1 with Flagstar Performance Savings

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Flagstar Performance Savings

1Annual Percentage Yield (APY) is accurate as of 6/23/2026. Tier 1 $0 – $9,999.99 features an annual percentage yield of 0.10%. Tier 2 $10,000.00 – $24,999.99 features an annual percentage yield of 0.10%. Tier 3 $25,000.00 – $49,999.99 features an annual percentage yield of 3.20%. Tier 4 $50,000.00 – $99,999.99 features an annual percentage yield of 3.20%. Tier 5 $100,000.00 – $499,999.99 features an annual percentage yield of 3.20%. Tier 6 $500,000.00+ features an annual percentage yield of 3.20%. The interest rate(s) and annual percentage yield(s) are variable and may change at any time before or after the account is opened. Initial minimum opening deposit to earn the higher interest rate on the Flagstar Performance Savings account is $25,000 and must be “new money,” which is defined as money that is not currently on deposit in any Flagstar Bank account (except maturing CDs). Additionally, (i) account must be funded within 90 days of the approval date, and (ii) early account closure fee may be imposed for accounts closed within 180 days. A maintenance service charge of $15 will be imposed every statement cycle if the average daily collected balance in the account is less than $10,000. The maintenance service charge will be waived if you are the tax reported owner on this account and you are an owner on a Flagstar personal checking account. Fees may reduce earnings. Personal accounts only. Limited time offer. Area restrictions may apply. If you are a Private Bank client, please contact your Private Client Group to enroll.

2Annual Percentage Yield (APY). 3.80% APY is accurate as of 6/23/2026 and available as a 12-month term. Fees could reduce earnings. Withdrawals may result in imposition of applicable early withdrawal penalties. $500 minimum opening deposit required. Maximum deposit is $10 million. 'New Money' is defined as funds that are not currently deposited in any account at Flagstar Bank. Not available for public units or Business CDs. Certain restrictions, including area restrictions, may apply. Offer subject to change or cancellation at any time without notice. Must present offer at account opening. Limited-time offer. Important information will be provided to you in the disclosures you receive during the account opening process. Please contact your local branch for more information.