U.S. Mint Ends Penny Production

The U.S. Mint pressed its final pennies on Wednesday, November 12, marking the end of the 230-year-old coin.

Once used to buy snacks and knickknacks, the penny has less use in the modern American economy. The cost of production — nearly four cents per penny — is more expensive than the coin’s one-cent value.

While billions of pennies remain in circulation and remain legal tender, new pennies will no longer be made.

Some businesses across the country have cited penny shortages, however, and have responded by rounding change up or down to the nearest five or ten cents if customers are unable to pay with the exact change.

The discontinuation was an order by President Donald Trump, who called penny production “wasteful” in an online post in February.

The production cost of a penny is less than that of any other coin, according to an article from the Associated Press. The nickel costs nearly 14 cents to make, despite being worth five cents. The dime costs less than six cents to produce, and the quarter costs nearly 15 cents.

The last U.S. coin to be discontinued was the half-cent in 1857.