Giant Eagle needs pennies, offers double their value in gift cards

Giant Eagle says it needs customers’ pennies, and it’s prepared to make a deal.

The Cranberry-based retailer said it will exchange pennies for double their value in Giant Eagle gift cards between 11 a.m. and 4 p.m. Saturday.

Customers must provide a minimum of 50 cents in pennies, which would yield a $1 gift card. The exchange rate tops out at 10,000 pennies ($100), which would send a customer home with a $200 gift card.

The penny exchange will be available at any of the chain’s more than 200 locations throughout the region.

In a press release, the company said the Federal Reserve has been limiting penny deliveries to banks and commercial customers as the U.S. Treasury begins its phase out of the coins.

In the meantime, Giant Eagle said it’s still seeking to provide exact change to cash-paying customers.

“This proactive step allows the company to maintain accuracy and fairness while it awaits formal guidance from the U.S. government regarding future rounding practices,” the release said.