The United States Mint struck its final circulating one-cent coin at its Philadelphia facility today, ending 232 years of continuous penny production.
The penny had its roots in the early Republic: Congress first authorized copper one-cent pieces under the 1792 Coinage Act, and production at the Mint began shortly after.
Since 1909, the coin has borne the profile of Abraham Lincoln on the obverse.
“God bless America, and we’re going to save the taxpayers $56 million,” said U.S. Treasurer Brandon Beach moments before pressing the button to mint the nation’s final penny per AP.
The move stems from mounting production costs and changing payment habits. The Mint estimates that each penny now costs approximately 3.69 cents to produce, almost four times its face value.
President Donald Trump announced in February that he was ordering his administration to end production of the coin, citing government waste.
“For far too long, the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful!” Trump wrote on Truth Social at the time. “I have instructed my Secretary of the US Treasury to stop producing new pennies.”
Last year was the 19th year that production costs of both the penny and nickel “remained above face value.”
In 2024, nickels cost 14 cents each to produce.
The Hill reported, “Per the latest U.S. Mint report, it costs less than six cents to make a dime ($0.0576). To make a quarter, it costs about 15 cents ($0.1468), and nearly 34 cents for a half-dollar ($0.3397).”
There are roughly 114 billion pennies in circulation, valued at $1.14 billion. Pennies will remain legal tender after the production halts.
No new pennies will be manufactured for circulation. Limited collector editions may still be produced, but mass minting has ended.
WATCH:
BREAKING: IT’S OFFICIAL: The US Mint will officially STOP minting pennies. Today, the LAST Penny will be minted!
One Penny Costs the U.S Taxpayer $0.37 cents to Mint.
U.S. Mint lost $85,300,000,000 BILLION minting pennies in FY2024 alone. pic.twitter.com/dUDB1pm9b8
— The Patriot Oasis
(@ThePatriotOasis) November 12, 2025
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