232 Years of Penny Production Ends in the US

The United States has officially ceased the production of its smallest coins, the pennies, which have been in circulation since 1793. The ceremony for producing the final batch of pennies took place at the Philadelphia Mint.

U.S. Treasurer Brendon Beech pressed the button to start the production of the last series of the coins. According to mint employees, however, the final pennies were actually produced back in July.

Meanwhile, the production of other coins that cost more than their nominal value to produce, including nickels, will continue. According to Brendon Beech, the decision to halt penny production was made during former U.S. President Donald Trump's administration as part of a policy to adapt to modern payment methods.

A similar decision was last made in 1857, when half-cent coins were discontinued. The production cost of one penny had reached 3.69 cents.

There are an estimated 300 billion pennies currently in circulation in the United States. According to the Treasury Department, stopping the production of pennies is expected to save $56 million annually.

According to the Mint, a total of 5.6 billion coins were produced in the 2024 fiscal year, of which 3.2 billion were pennies. Despite the cessation of production, existing pennies will remain legal tender.

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