US EditionThe Treasury unveils its plan to kill the penny
- The U.S. Treasury Department confirmed on Thursday that it will stop producing pennies when current blanks run out.
- This decision comes after President Donald Trump directed his administration in February to stop manufacturing the one-cent coin, amid ongoing efforts to eliminate it.
- The U.S. Mint has placed its last request for penny blanks and plans to halt coin production once the current supply is exhausted, anticipating annual material cost savings of $56 million by discontinuing the penny.
- The penny costs nearly 4 cents to produce, according to the U.S. Mint, while advocates highlight the coin's high production cost and limited utility.
- Congress could permanently end penny production through legislation, with two bipartisan bills introduced this year aiming to retire the coin permanently.
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296 Articles
Penny production winds down as demand ‘dramatically decreased’
Production for the 1-cent penny coin, which first went into circulation when Alexander Hamilton was the first Secretary of the Treasury, is winding down this month, as “demand has drastically decreased.” NBC’s Joe Fryer reports for TODAY.
US Treasury Confirms the Mint Will Discontinue Production of Pennies by Early Next Year
The United States Mint has placed its final order for penny blanks and will cease production of the coin once this last batch is completed, the Treasury Department confirmed on Thursday. Currently, it costs approximately 3.69 cents to make a single penny. President Donald Trump announced in February that he was ordering his administration to end production of the coin, citing government waste. “For far too long the United States has minted penni…
Treasury Plans To End Penny Production - ButlerRadio.com - Butler, PA
We are one step closer to a nation without pennies. The U.S. Treasury recently announced that the final order for penny blanks has been made. Pennies will continue to be made until that order runs out but new pennies will no longer be added to circulation sometime early next year. Pennies will still be accepted for purchases, but when supply begins to dwindle, stores will have to round up or down to the nearest nickel. Since it costs almost 4 ce…
US Treasury to end penny production by early 2026
The US Treasury Department has officially confirmed it will end production of the penny coin by early 2026, marking a significant shift in American currency policy after years of debate over the coin’s utility and rising production costs. The move follows a directive from President Donald Trump issued in February 2025, and comes amid growing bipartisan support in Congress to phase out the lowest denomination of US currency. The Treasury has repo…
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