Summary
The U.S. Mint has printed its last penny, following President Donald Trump's decision to stop production due to high costs. While the penny will no longer be made, it remains legal to use, with billions still in circulation. Special final edition pennies will be auctioned, and the Treasury expects to save $56 million each year in material costs by stopping production.
Key Facts
- The U.S. Mint produced its final penny at its Philadelphia location.
- President Donald Trump ordered the halt in penny production because making them costs more than their value.
- It costs about 3.69 cents to produce a penny, which is more than its one-cent value.
- The decision to stop making pennies is expected to save $56 million annually.
- Over 250 billion pennies are still in circulation and remain legal for transactions.
- The last pennies will have a special mark and will be sold at auction.
- Rare and special pennies, like the 1909-S VDB cent, are highly valued by collectors.
- Some businesses may start rounding prices to the nearest nickel as pennies become less available.
