US EditionUS ends penny-making run after more than 230 years
- On Wednesday, the U.S. Mint in Philadelphia struck the final 1-cent coin as Treasury Secretary Scott Bessent and U.S. Treasurer Brandon Beach attended the ceremonial punch.
- President Donald Trump ordered the Treasury to stop minting pennies earlier this year, citing the cost per penny of 3.69 cents, which exceeds the coin's face value.
- As coin terminals close, Federal Reserve coin terminal facilities largely stopped taking pennies, and retailers report shortages forcing rounding of cash transactions despite 250 billion pennies in circulation.
- The Treasury Department estimates ending penny production will save taxpayers about $56 million annually, while officials emphasize pennies as legal tender will keep their value indefinitely.
- Attention now turns to the nickel, which costs nearly 14 cents to make and could impact shoppers more if retired, while at least 10 states prohibit rounding to the nearest nickel, raising compliance risks for Congress and lawmakers.
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U.S. presses final penny as production ends after more than 230 years - Asian Journal News
Trump administration halts one-cent coin to cut costs; pennies remain legal tender PHILADELPHIA / WASHINGTON – The United States has minted its final penny, ending more than two centuries of continuous production of the country’s smallest and most familiar coin. Inside the U.S. Mint in Philadelphia on Wednesday, November 12, U.S. Treasurer Brandon Beach pressed the last five circulating one-cent coins, closing a…
Iowans react to the penny phase out
DES MOINES, Iowa -- The last penny was produced in Pennsylvania on Wednesday, ending production of the one cent coins after more than 230 years. When the penny was introduced in 1793, you could buy cheese, bread, a biscuit or a candle with one, but now they’re almost worthless. Federal officials say it costs $0.04 [...]
CEFCU says it’s business as usual after the final U.S. penny is minted
CEFCU has a large supply of pennies and will continue to accept and distribute them as usual, while retailers may begin rounding purchases to the nearest nickel due to the US Mint's decision to stop producing pennies.
The penny is discontinued: What happens now that the last coin was minted in the United States?
After 232 years in circulation, the US Mint will strike its last pennies this Wednesday at its Philadelphia headquarters, the same place where they have been produced since 1793. T
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