U.S. Mint Strikes Final Pennies As 1-Cent Coin Retired

The U.S. Mint in Philadelphia pressed its final batch of pennies on Wednesday, officially ending production of the 1-cent coin after more than two centuries. The move, aimed at cutting costs and reflecting the penny’s dwindling relevance, marks the end of an American era that began in 1793.

U.S. Treasurer Brandon Beach, who struck the last penny, said, “G-d bless America, and we’re going to save the taxpayers $56 million.” Officials confirmed that the last few coins will be auctioned off, while existing pennies will remain legal tender.

President Donald Trump ordered the phase-out as the cost of minting reached nearly four cents per coin. “For far too long the United States has minted pennies which literally cost us more than 2 cents,” Trump wrote earlier this year. “This is so wasteful!”

The penny is the first U.S. coin to be discontinued since the half-cent in 1857. Despite the change, billions remain in circulation, though most are no longer used in daily transactions.

Some retailers complained the decision came abruptly, leaving them without guidance on handling cash sales. Others rounded prices or offered small incentives for customers to use up their remaining pennies. “We have been advocating abolition of the penny for 30 years. But this is not the way we wanted it to go,” Jeff Lenard of the National Association of Convenience Stores told the Associated Press.

Over the years, pennies made up about half of all coins minted in Philadelphia and Denver. Ironically, they still cost less to produce than nickels, which now run nearly 14 cents each.

For collectors and historians, the penny’s end represents more than economics. “We put mottos on them and self-identifiers, and we decide — in the case of the United States — which dead persons are most important to us,” Frank Holt, a University of Houston professor emeritus told Associated Preaa. “They reflect our politics, our religion, our art, our sense of ourselves, our ideals, our aspirations.”