U.S. Mint Produces Last Penny As 1-Cent Coin Phased Out
1 week ago
The U.S. Mint in Philadelphia is producing its final circulating penny, ending more than two centuries of 1-cent coin production. President Donald Trump ordered the phase-out after the cost to make each penny rose to nearly four cents, making the coin’s value largely obsolete.
Pennies have been minted in Philadelphia since 1793, and billions remain in circulation, though they are rarely essential for everyday transactions. The Treasury Department says discontinuing the coin will save about $56 million per year in materials.
Many Americans have a nostalgic attachment to the copper-plated coins, seeing them as lucky or collectible, but the century-old penny is now officially history.
Pennies have been minted in Philadelphia since 1793, and billions remain in circulation, though they are rarely essential for everyday transactions. The Treasury Department says discontinuing the coin will save about $56 million per year in materials.
Many Americans have a nostalgic attachment to the copper-plated coins, seeing them as lucky or collectible, but the century-old penny is now officially history.
