The US is ending penny production due to costs—each costs nearly 4 cents to make. Penny, the one-cent coin, is finally being phased out.
President Trump ordered the US Mint to cease producing pennies, citing cost inefficiency. The move aims to save millions annually, but raises questions about circulation and retail impacts. The final pennies will be auctioned, with circulation expected to slow but not disappear.
The US Mint produced its final penny on Wednesday, ending 232 years of coinage. The move aims to save costs, as pennies now cost more to produce than their face value. Existing coins remain in circulation, but future production has ceased following bipartisan support and government cost-saving measures.