Lubbock banker and coin enthusiast share their thoughts on stopping penny production
Penny Production Ends in the U.S. LUBBOCK, Texas – After 232 years, the U.S. Treasury has decided to halt penny production, minting the final one recently. Over the last decade, the cost to produce a penny has gone up significantly, rising from 1.42 cents to 3.69 cents. Reducing the number of coins minted is expected […]
Banks request federal support as penny shortage grows.
Coin Crisis Grows as Penny Production Ceases Key Insights: Retailers are experiencing difficulty in obtaining pennies due to slowed distribution, and federal authorities haven’t provided instructions on how to manage the situation. Support Data: Out of 165 coin distribution terminals managed by the Federal Reserve, 102 do not handle pennies or accept deposits. Expert Quote: […]
Who benefits and who suffers as the US phases out the penny
At this point, most Americans are aware of the odd economics behind coins. It costs around 4 cents to produce one penny. You probably have a few stacked up somewhere—a jar, your pocket, maybe even the ashtray in your car. Though it’s tiny, the penny represents more than its size—it holds cultural significance. If it […]
Goodbye, dear penny. Your time has come to an end, but you will always be remembered.
Farewell, Penny: A Tribute to a Beloved Coin Oh, dear Penny, you’ve been quite the trooper. We picked you up, and you brought us good luck. Remember when we used to give you to others, and it felt like we were gifting them ideas? And then there were those wild debates about whether dropping you […]
Change is on the way: America says goodbye to the penny.
Penny Production Comes to an End LEXINGTON, Ky. — The production of the one-cent coin in the U.S. has officially ceased, marking a significant shift after 232 years. This signals the end of the lowest denomination of U.S. currency. This week, the U.S. Mint announced the halt in penny production, a decision first suggested by […]
Ozarks penny collectors share tips as U.S. Mint ceases production
Change in Penny Production Sparks Collector Interest SPRINGFIELD, Mo. – With the U.S. Mint halting penny production, coin enthusiasts are sharing insights on which coins might be worth keeping versus those that are alright to spend. Dave Sorick, passionate about coins since his teenage years and currently the president of the National Numismatic Association, views […]
U.S. penny withdrawal: Mint produces the final one cent coin
A penny doesn’t hold much value these days. Most New Yorkers pass by them on the street, and many will even ask cashiers to “keep the change” on small purchases. It’s interesting to think about how these copper coins often end up stuffed at the bottom of wallets or in jars that parents set up […]
U.S. Mint Releases Last Penny Since Its Introduction in 1793
The final penny was minted Wednesday at the U.S. Mint in Philadelphia. Officials are saying that stopping penny production is a smart financial decision. Having been around for over 230 years, there are still billions of pennies in circulation, as reported by the Associated Press. It costs about 4 cents to make a penny, which […]
Farewell to the penny: What happens next as the U.S. stops producing it.
Pennies No Longer Minted in the U.S. The final penny was minted at the U.S. Mint in Philadelphia, marking the end of a coin production that began in 1793. It’s already starting to feel a bit strange not having them around. Reports indicate that some stores are running low on pennies, which means customers now […]
U.S. Mint in Philadelphia to produce last penny as the 1-cent coin is discontinued
PHILADELPHIA — The U.S. Mint in Philadelphia is preparing to strike its last penny on Wednesday, following the president’s decision to discontinue the 1-cent coin. As production costs have ballooned to almost 4 cents per penny, making its worth somewhat outdated, President Donald Trump issued an order for its removal. The Mint has been creating […]