The Penny Is Officially Dead
The penny’s 232-year run has officially come to an end.
On Wednesday, the U.S. Mint produced its final one-cent coin at its Philadelphia facility, marking the quiet but historic conclusion of an American currency icon. The last penny was struck by U.S. Treasurer Brandon Beach, bringing to a close a chapter that began in 1793.
“While general production concludes today, the penny’s legacy lives on,” said Kristie McNally, Acting Mint Director. “As its usage in commerce continues to evolve, its significance in America’s story will endure.”
The Mint cited rising production costs as the driving force behind the decision. It now costs 3.69 cents to make each penny — up from 1.42 cents a decade ago. Ending the coin’s production is expected to save the federal government roughly $50 million a year, according to Business Insider.
The move was set in motion by President Donald Trump earlier this year, who ordered the penny’s cancellation in February. “For far too long, the United States has minted pennies which literally cost us more than two cents,” Trump wrote on Truth Social. “This is so wasteful! I have instructed my Secretary of the US Treasury to stop producing new pennies.”
Though production is ending, the Mint emphasized that approximately 300 billion pennies are still in circulation. That means you can still use pennies for purchases, and stores may continue to price items down to the cent.
The penny first entered circulation after the Coinage Act of 1792. Originally larger and composed entirely of copper, the design featured a woman symbolizing liberty with flowing hair. Over time, the penny shrank in size and changed materials, eventually becoming the copper-zinc blend we know today.
Since 1909, Abraham Lincoln has graced the front of the coin — the first U.S. president ever depicted on currency — in honor of his 100th birthday. The most recent reverse design paid tribute to Lincoln’s preservation of the Union.
The penny has had a few historical quirks over the years. In 1943, for instance, most were made of zinc-coated steel to conserve copper for World War II munitions. In 2017, for the Mint’s 225th anniversary, Philadelphia pennies bore a “P” mint mark for the first time ever.
Though the presses have stopped, the penny will remain a nostalgic and symbolic part of American life — hiding in couch cushions, lining change jars, and reminding the country of its long economic journey.