U.S. Treasury to Mint Final Penny

The U.S. Treasury plans to mint its last penny today. Treasury Secretary Scott Bessent shared that production of the final five pennies, featuring a unique Omega mark, will conclude, turning them into potential collector’s items worth millions.

Initially authorized by the Coinage Act of 1792, the penny has become less viable in recent years due to rising production costs. Presently, making a penny costs almost four cents, even though it’s valued at just one cent.

Experts are estimating that these last pennies could fetch between $2 million and $5 million at auction, although some seasoned collectors believe this estimate might be a bit far-fetched.

Richard Weaver, a numismatist from the Delaware Valley Rare Coin Company, noted possible damage to the last penny when Secretary Beach posed for a photo with it, explaining that copper is particularly sensitive to oils and sweat from fingers. This could affect its value significantly.

Weaver also speculated that the commemorative nature of these final pennies could impact their worth in the long run. After all, serious collectors usually invest in older coins, some dating back over a century, that have a limited existence.

The U.S. Treasury has indicated plans to auction off these rare pennies at a future date, although specifics haven’t been released yet. This decision follows President Donald Trump’s announcement earlier this year about stopping penny production altogether. He criticized the minting process, pointing out the financial inefficiencies.

In the last fiscal year, pennies comprised 57% of the Mint’s total output. Eliminating them is projected to save the Mint around $56 million annually.

While the minting officially ends, pennies will remain usable in transactions and will circulate for about 30 more years. Additionally, the Mint intends to continue producing limited edition collector’s pennies.