A penny short: US mints final 1-cent coins after over 230 years in circulation

3 days ago 8

ARTICLE AD BOX

From present connected out, a penny saved is much than conscionable a penny earned; it's besides a relic of history.

The final penny was minted connected Wednesday astatine the Philadelphia Mint aft implicit 230 years successful circulation arsenic a utile coin flip device, a conveyance to formed wishes into fortunate ponds and the smallest signifier of U.S. currency.

"Today, we discontinue the penny," Derek Theurer, who is performing the duties of Deputy Secretary of the Treasury, said successful statements delivered astatine the Philadelphia Mint, the aforesaid metropolis wherever the archetypal penny was created implicit 2 centuries prior.

U.S. Treasurer Brandon Beach besides spoke astatine the event, highlighting the historical moment. Beach said the past clip the United States discontinued a coin was the fractional cent successful 1857.

Treasurer of the United States Brandon Beach holds the past penny stamped astatine the US Mint connected Nov. 12, 2025, successful Philadelphia. Beach pressed the last pennies astatine an lawsuit held astatine the facility.

"Given the accelerated modernization of the American wallet, the Department of the Treasury and President Trump nary longer judge the continued accumulation of the penny is fiscally liable oregon indispensable to conscionable the demands of the American public," Beach said, laying retired what helium claimed were fiscal benefits to the country.

According to the U.S. Treasury Department, the outgo of producing a azygous penny has much than doubled successful the past 10 years, to 3.69 cents.

"Although contiguous we accidental goodbye to our copper one-cent coin, fto maine beryllium crystal clear, the penny remains ineligible tender," said Beach. "We person implicit 300 cardinal pennies that stay successful circulation and we promote you to usage them."

Beach besides shared that the last pennies minted volition beryllium auctioned disconnected and volition not spell into circulation.

President Donald Trump earlier this twelvemonth announced his volition to halt penny accumulation successful a Truth Social post.

"For acold excessively agelong the United States has minted pennies which virtually outgo america much than 2 cents," wrote Trump successful the February post. "This is truthful wasteful! I person instructed my Secretary of the US Treasury to halt producing caller pennies. Let's rip the discarded retired of our large nations budget, adjacent if it's a penny astatine a time."

The U.S. Mint reported losing $85.3 cardinal connected making pennies successful fiscal twelvemonth 2024, according to the Mint's annual report to Congress.

To work much astir the reasons successful enactment and absorption to the extremity of the penny, read connected here.

Treasurer of the United States Brandon Beach stamps the past penny astatine the US Mint connected Nov. 12, 2025, successful Philadelphia.

A little past of the agelong and famed beingness of the penny

The country's archetypal signifier of pennies, copper coins called Fugio cents, archetypal appeared successful 1787 and were made from "the bands utilized to clasp unneurotic pulverization kegs that the French authorities sent to the United States during the American Revolution," according to the Federal Reserve Bank of Atlanta, citing the "Journal of Congress."

The authoritative one-cent portion was archetypal produced successful the United States successful 1793 and was primitively the size of the present-day quarter, according to Caroline Turco, adjunct curator of the Money Museum successful Colorado Springs, Colorado, who spoke with ABC News earlier this year.

Turco said Lincoln, whose likeness is besides connected the $5 bill, was added to the coin successful 1909.

The size and plan of the penny has varied implicit the years, arsenic good arsenic the nonstop operation of materials utilized to make the currency, according to the U.S. Mint.

Read Entire Article