CAPE GIRARDEAU, Mo. (KFVS) - The penny, America’s lowest-denomination coin, is officially history .

At First Missouri State Bank, Executive Vice President Jay Knudtson said the announcement prompted an unusual late-night meeting.

“I’m not sure I ever thought I’d be meeting with senior management last night talking about what to do about pennies and the discontinuance of pennies,” Knudtson said.

Knudtson said the shift away from pennies has been coming for years. His bank will no longer distribute them, citing the dominance of digital payments. About 75% of transactions now happen through credit or debit cards.

“The digital transaction activity has become so prevalent, especially with young people, that our economy’s ready for it,” Knudson said.

At Dash’s Pawn Shop, Manager David Phe

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