U.S. Mint Produces Last Penny After Over Two Centuries

The U.S. Mint in Philadelphia recently pressed its final penny, marking the end of an era that has lasted for 232 years. This decision was made by President Donald Trump, who has argued that producing the one-cent coin has become impractical, given that it costs about four cents to mint each penny.

The penny, first introduced in 1793, once held significant purchasing power—enough to buy a candle or a piece of candy. Today, however, with billions still in circulation, it’s rare to find anything that costs just a cent.

“God bless America, and we’re going to save the taxpayers $56 million,” stated U.S. Treasurer Brandon Beach at the Mint, just before pressing the button for the last coin.

Beach noted that the last denomination to be discontinued in the U.S. before this was the half-cent, which ceased production in 1857. Interestingly, that too was a copper coin featuring Lady Liberty and was minted for less than 70 years.

“It’s an emotional day,” comments Clayton Crotty, who has been with the mint for 15 years. “But it’s not unexpected.”

Trump’s stance is that the penny is no longer relevant in today’s market. He believes there are enough pennies already in circulation to meet any ongoing needs for the foreseeable future.

“For far too long the United States has minted pennies which literally cost us more than 2 cents,” Trump expressed on social media back in February. “This is so wasteful!”

After the final penny was struck, Beach shared his thoughts on social media, stating that this moment symbolizes the end of penny production and a return to common sense in government spending, pointing out that the U.S. loses millions each year on penny production as their demand decreases.

Interestingly, the production cost of pennies amounts to about $56 million annually, according to the Treasury Department. The final coins featuring Abraham Lincoln’s image will be auctioned off.

In light of this change, businesses are hurriedly adjusting their pricing structures. Some banks had even reported dwindling supplies of copper coins before the penny’s official discontinuation.

To give some perspective, producing a dime costs about six cents, and a quarter costs around 15 cents.

While the penny will remain legal tender, it will also be viewed as a piece of history—something nostalgic or perhaps even a symbol of good luck.