Penny banned at Vermont store

Store rounds to nearest nickel, in customer's favor

Published On: Sep 11 2012 04:51:01 AM EDT   Updated On: Sep 11 2012 07:17:21 AM EDT

A Vermont store is banning the penny, a debate that the U.S. has been debating for years.

The store, Power Play Sports in Morrisville, Vermont has already taken the pennies from its drawer.

Items sold in the store still have lables that end in 99 cents, but when customers go to the register, they aren't getting pennies back.

Caleb Magoon, owner of Power Play Sports, says he doesn't "actively go out and get pennies in order to give people the appropriate change."

This month, the store started rounding its change to the nearest nickel, which is in the customers favor.

For instance, if a customer's owed $1.63 from a cash purchase, they'll get $1.65 back .

Magoon say the most he could possibly lose on any transaction, "is 4 cents."

He also says it's his way of suggesting that the government follow Canada's lead and stop production of the coin, saying that the cost of production is not worth it.

Some people never want to see the penny go away, thinking it would lead to an increase in consumer prices across the board. They also worry charities would be affected.