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For a Minnesota company, pinching pennies is big business

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Published  March 5, 2025 10:31pm CST
Small Business
FOX 9

Bye pennies? MN press machine company not worried

The Penny Press Machine Company, which flattens coins into souvenirs, is not worried about talk of the U.S. Treasury ending the production of pennies. FOX 9's Maury Glover has the full story.

The Brief

    • The Penny Press Machine Company makes mechanical contraptions that elongate coins as souvenirs at tourist attractions and natural landmarks.
    • The owner says it's the only company of its kind in Minnesota and one of only a handful in the country.
    • The company has sent penny presses to hundreds of customers across the United States and around the world.

LITTLE CANADA, Minn. (FOX 9) - Some may say the penny is past its prime, but it is still a big deal for a small company in Little Canada.

A penny for your thoughts 

Big picture view:

Since 1987, The Penny Press Machine Company has manufactured custom machines that flatten coins while printing new images on both sides, replacing Abraham Lincoln and the Lincoln Memorial or Union Shield with whatever the buyer wants.

"From theme parks to zoos to souvenir gift shops, fast food restaurants. We'll do a lot of sports teams."

The Minnesota Vikings have them. Companies like to use them for branding. 

"Souvenir shops use them to sell souvenirs of landmarks. Really anything you can imagine, we can put on the coin," said general manager Brian Peters.

Putting their stamp on making memories 

The backstory:

Brian's father, Joe, bought the company a few years ago.

He says penny presses were introduced at the Chicago World's Fair in 1893 and gained popularity at tourist attractions in the 1950s and 60s.

He says by putting in 50 cents to a dollar or by tapping a credit card these days, collectors can crank out a unique souvenir that they helped make themselves.

"It's probably the most economical souvenir in the whole tourism industry that somebody can get for their family," said Joe.

There's even a website for die hard penny pals, who go on road trips or "squishin' missions" to find penny presses in all 50 states.

"It totally amazes me how nostalgic it is for some people, but it's stamp collecting. I mean, everything's got a uniqueness," said Joe.

A smashing success

What they're saying:

Even though there's been talk about stopping the U.S. Treasury from minting new pennies, the company says its machines could still operate using copper tokens.

"For 30 years, they've been trying to do away with the penny and nobody's been able to come up with a concrete solution. It's not going away," said Joe.

But no matter what happens, they plan to keep pinching pennies for as long as it makes cents.

"I think it's very important that people hang on to those pennies and every penny counts," said Brian.

More information on the company can be found here. 

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