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US Mint in Philadelphia to press final penny as the 1-cent coin gets canceled

On Wednesday, the U.S. Mint in Philadelphia will strike its last circulating penny after President Donald Trump ordered the Treasury to stop minting pennies in February with Treasury Secretary Scott Bessent and Treasurer Brandon Beach expected.
The U.S. Mint reported each penny costs 3.69 cents to make, exceeding its face value, and a DOGE review said FY2023 minting of 4.5 billion pennies cost taxpayers more than $124 million.
Thousands of retailers and stores across the U.S. cannot get pennies and some stores have begun rounding cash transactions up or down to the nearest five cents, affecting even McDonald's locations.
The Treasury says stopping production will save $56 million per year on materials, while pennies will remain legal tender and circulate soon despite compliance risks for multistate retailers without federal rounding laws.
About 250 billion pennies remain in circulation, so changes will be gradual, while each nickel costs more than 13 cents and businesses expect cashless payments to rise over 10 years.

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RIP, Penny: You Had a Good Run

The penny's luck is about to run out. The AP reports the US Mint in Philadelphia is set to strike its last circulating penny on Wednesday. President Trump ordered the one-cent coin's demise earlier this year: "For far too long the United States has minted pennies which literally cost us...

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U.S. mints final penny today

Across the nation, signs both handwritten and laser-printed warn shoppers about the penny shortage and to use a card if they want exact change. Should anyone have any cents left, they might want to hold on for dear life: today will see the final penny minted in the U.S. — Read the rest The post U.S. mints final penny today appeared first on Boing Boing.

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