With the production of the U.S. penny coming to an end and the Federal Reserve limiting penny deliveries, Giant Eagle has announced a penny exchange day that will allow customers to earn double the amount they turn in.
The Pittsburgh-based grocery announced Tuesday that on November 1, they will be collecting pennies in exchange for double gift card rewards.
From 11 a.m. to 4 p.m. on Saturday, customers that bring their spare pennies into any Giant Eagle or Market District will receive a gift card that is worth double the number of pennies exchanged.
A minimum of 50 pennies must be exchanged in order to get the gift card (worth $1).
A maximum of $100 worth of pennies can be exchanged, resulting in a $200 Giant Eagle gift card.
The penny collection will help Giant Eagle continue to give customers that pay with cash, exact change
“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.”
Giant Eagle says the step allows “the grocery chain to maintain accuracy and fairness while it awaits formal guidance from the U.S. government regarding future rounding practices.”
Other grocery chains, like Kroger, have asked customers to begin paying with exact change.