Goodbye, Mr. Lincoln, again: The final phase of penny production

US To Stop Producing Its Penny

The US Treasury announced in May that it will start phasing out the production of its lowest-value coin. According to the Trump administration, the reason for the decision was to save federal money, “one penny at a time.” In 2024, the US Mint reported that the pro- duction of every single penny cost the government 3.7 cents, almost four times its face value. All in all, to make 3.2 billion pennies last year, the federal government lost $85.3 …

Goodbye, Mr. Lincoln, again: The final phase of penny production

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