The End of an Era: Treasury's Final Penny Order

The U.S. Treasury has placed its final order for penny blanks, signaling the end of an era for the one-cent coin. According to a spokesperson, the United States Mint will continue to produce pennies while the remaining inventory of blanks lasts.

President Donald Trump first hinted at the move in February, criticizing the cost of production.

"For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful! I have instructed my Secretary of the US Treasury to stop producing new pennies."

According to the Treasury, the cost of making a penny rose 20% in fiscal year 2024. Over the past decade, the cost has increased from 1.3 cents to 3.69 cents per coin.

Officials estimate that halting penny production will save $56 million annually in reduced material costs.

This is not a partisan issue; lawmakers from both parties have introduced legislation aimed at eliminating the coin over the years.

An estimated 114 billion pennies are currently in circulation in the United States, according to the spokesperson.