What's happened
The US Mint produced its final pennies on Wednesday, ending 232 years of coinage. The move aims to save costs, as pennies now cost more to produce than their face value. The last coins feature a special omega mark and will be auctioned for millions, with existing coins remaining in circulation.
What's behind the headline?
The decision to end penny production reflects ongoing efforts to reduce government waste and streamline currency. The high costs of manufacturing, now nearly four times the coin's face value, made continued minting economically unsustainable. The limited utility of pennies, especially with inflation reducing their purchasing power, further justified the move. The auction of omega-marked coins could generate significant revenue, but the overall impact on everyday transactions will be minimal, as pennies remain legal tender. Retailers and consumers will need to adapt to rounding policies, which may cause short-term confusion but ultimately streamline cash transactions. This move aligns with past efforts to phase out low-value coins, like the half-cent, and signals a shift towards more cost-effective currency management.
What the papers say
The NY Post reports that the final penny was produced on Wednesday, with experts estimating that the omega-marked coins could sell for up to $5 million each at auction. Business Insider UK highlights the economic rationale, noting that each penny now costs nearly four times its face value to produce, and that the move will save taxpayers around $56 million annually. The Washington Post details the ceremonial aspect of the final minting, with Treasurer Brandon Beach pressing the last coin's strike. All sources agree that the move is driven by cost savings and the declining utility of pennies, with some noting the potential for high-value collectibles from the omega-marked coins. Contrasting opinions include some retail groups concerned about the legal and logistical challenges of phasing out pennies, while coin experts emphasize the rarity and collectible value of the final omega coins.
How we got here
The penny has been in production since 1793, originally made of copper. Over time, costs increased, and in 2025, the US government decided to cease minting pennies due to their rising production costs and limited utility. The final coins include a small number with a special omega mark, which are expected to fetch high prices at auction.
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Common question
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Why Did the US Stop Producing Pennies?
The US Mint recently announced it has ceased production of the penny after over 230 years. This decision has sparked many questions about what this means for everyday transactions, the fate of existing coins, and future currency changes. Below, we explore the reasons behind ending penny production and what it could mean for you.
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