​Better pick up that shiny penny on the ground. It could be worth more than you think, and not because of the 2.5% copper it contains.
 
What caused the demise of the Lincoln-toting coin, and how will it leave a hole in your pocket? This decision costs most consumers money every day. It also makes big businesses large amounts of tax-free dollars monthly. Stay tuned to find out how.
 
There are three major factors contributing to the penny’s removal from the United
States coin crop. First and most importantly, in November 2025, the U.S. Mint halted production of the penny. The reason was that the one-cent coin was costing nearly four cents to produce.
 
The second factor is decreased circulation. The commonly termed “Penny Shortage” is a result of increased use of credit and debit cards. This has left the penny stuck in household jars, piggy banks, car cup holders, or abandoned on the pavement. Some might say the penny has been doomed for a long time, as it is the most commonly found coin on the ground. Its low value makes it not even worth bending over to pick up.
 
The last factor is a policy change by the Federal Reserve. The Reserve restricted or paused the acceptance and redistribution of existing pennies. This makes it nearly impossible for local banks and retailers to restock the penny.
 
In response to these three factors, many retailers are adopting “exact change” policies. That means pay digitally by credit card or have the exact amount. Most of us would say this is not a big deal. We’ve become accustomed to paying in some form other than cash. Here are some interesting numbers that could start you thinking. Four to six percent of Americans (15-16 million people) don’t have access to a debit card. Fifteen to sixteen percent of American households (not people) don’t have access to a credit card. Roughly 25% don’t use digital payment methods. These numbers do not account for minors and unregistered individuals, who largely make cash purchases. Admittedly, the three factors above did not cause these numbers. They may not even affect the percentages. What they have caused is more money being taken from people who live on the financial edge. 

​You may not be in any of these situations, but I assure you, you are losing money. Incidentally, the farther detached from these situations you may be, the more likely you are to not even be aware you could be losing money.
 
This brings us back to the “hole in your pocket.” While U.S. agencies have not made any formal rules or determinations about what happens without the penny, large corporations such as big-box retailers, national fast-food chains, and the like have found a windfall of tax-free money. Over the last month, I have visited a mix of national big-box stores, national fast-food chains, and “mom and pop” retail establishments. In each instance, I bought items and paid with cash. Over 90% of the stores rounded up the cost of my items to the nearest nickel. This rounding up is done manually. That means the store's computerized register has no record of the upcharge.
 
The average box store takes in $150,000 to $300,000 of revenue daily. At $ 0.01 per day per upcharge, using just 5% of the people who pay cash, that’s $75 to $150 in untaxed money per day per store. A single store can generate $27,375 to $54,750 per year in untaxed income. When you add up all the stores in a chain, the total is staggering and currently undetermined. Please take into consideration the following two factors.
 

1. These numbers are extrapolated at only 5% and at $0.01.
2. These sums do not account for situations when rounding up includes the $0.02 to $0.04 range. If it were possible to add those calculations, the totals may be significantly higher.

 
What does that mean to the consumer? Figure out how many times you pay with cash and are literally short-changed. It could be thousands of dollars in hard-earned money, leaving your pocket without you even realizing it. In case you’re wondering, you have the right to ask for the correct change or to have the establishment swing the extra pennies in your favor. They can refuse to sell you the item(s).
 
 
Stores should post signage regarding their “Penny Shortage” policy.
 

​If your email inbox isn’t getting a “Dear Author” email, just wait, it will. The scammers are working hard to have AI pull titles, authors, blurbs, and story content, as well as searching websites. Here are some hints to help authors avoid these mischievous money malefactors.
The easiest way to tell is to look at the email they ask you to respond to. If it is anything but a name tied to a dot com, be suspicious. 

Next, do your homework. Find and contact the parent company that the sender claims to work for and ask if the person is sending unsolicited emails based on the details in the message. Don’t call the phone number listed in the email. As a side note, you might find it interesting that companies like Netflix and HBO take this matter seriously. They often direct such emails to their legal department.

If the first two tests are verified, which they very rarely are, look up the person on social media, especially LinkedIn. Find a photo of the person and verify it on several different sites. Then ask for a face-to-face call, such as a Zoom or Microsoft Teams call. I don’t recommend a FaceTime call because you will be giving them your phone number. See if the person you speak to matches the photos you found. They usually make excuses why they can’t have the call.

Lastly, and I admit, I only do this when I’m feeling a bit vengeful: email the person and ask them a specific question about your book that they would only know if they read it. I actually go one step further and ask a trick question, for example: What did you think when Sam’s brother had him arrested? Truthfully, Sam didn’t have a brother. If they reply, it’s usually wrong. But most of the time this ends the emails.

In the end, the best thing to do is be very skeptical of unsolicited emails stating how wonderful you and your story are. If it’s too good to be true, well, you know the rest.  I hope this blog was helpful. Please let me know your thoughts by commenting.

Many of us opined on writing the dreaded query letter with the perfectly penned pages of our manuscript somewhere in its body. I can only assume that literary agents have grown just as dismayed with the entire process. We craft compelling opening lines, include enticing details and personal tidbits, all leading up to a three-hundred-word, “Please love my story,” email. Literary Agents see inboxes filled with emails trying to “WOW” them. I   can only assume, again, that they are hoping that today is the day they find that one.

Hours are spent on both sides of the equation. I find this whole process odd and antiquated, mainly because we live in a time of instant gratification and immediate access to nearly any information we desire.  

I don’t understand why the entire process has not evolved. Imagine sending a literary agent an email with your name, genre, and a few short sentences about your book. If they’re interested, the agent or their assistant sets up a ten-minute video call.  During that call, everything that the query letter shared could be covered. But here is the advantage of the video call that no query letter can ever accomplish. Are you and the literary agent a good fit? Do your personalities allow you to work together?

I have sent query letters and met with agents in person. I can honestly say that I prefer face-to-face meetings with them. In just a few minutes, I can tell if I can work with someone, and I believe they do the same with me. 

Moving away from the query letter process will be challenging for many. However, in the long run, it creates a more personal experience. It saves time and money by avoiding multiple meetings that may ultimately show you're not a good fit for whatever reason.

Authors, imagine a world where you can speak freely about your project instead of squeezing it into three hundred words. Please don’t misunderstand me. You will still need to refine your presentation and research the agent you’re about to meet. This is by no means the easy way out. It might be quite the opposite. You truly have to bring your “A” game to the screen.

If you're a literary agent reading this blog, picture not having to read all those pages upfront or reading them only to find out the author you signed rejects any suggestions you give. This prevents you from sending rejection emails or having unproductive meetings later.

I hope I have made a convincing case for changing our current process. I believe that both literary agents and authors need to want it and actively push for it to happen. Please share your comments in the box provided. I look forward to reading them. ​