U.S. Mint Ends Penny Production After 232 Years

The U.S. Mint has officially ended the production of the penny, concluding a 232-year history of minting the one-cent coin. The final pennies were struck at the Philadelphia Mint, where the nation's smallest denomination coins have been produced since 1793. U.S. Treasurer Brandon Beach, who oversaw the ceremonial last strike, stated,

"God bless America, and we're going to save the taxpayers $56 million."

The decision to discontinue the penny was driven by its production cost, which had risen to nearly 4 cents per coin, rendering it economically unviable. President Donald Trump had previously ordered the cessation of penny minting, describing the practice as "wasteful." Despite the halt in production, existing pennies—estimated to number around 300 billion—will remain in circulation and continue to be accepted as legal tender. The U.S. joins other nations, such as Canada and New Zealand, in phasing out their lowest-denomination coins. While the penny has been a staple of American currency since the late 18th century, its usage has declined in the modern economy, leading to this historic change.