US Mint In Philadelphia Makes Nation's Last Penny

PHILADELPHIA — The United States Mint in Philadelphia made the last one-cent coin this week.

U.S. Treasurer Brandon Beach was at the Mint in Philadelphia Wednesday to ceremoniously end production of the penny. The move comes after President Donald Trump in February told Secretary of the Treasury Scott Bessent to halt penny production.

Trump cited the coin's production cost, which is about 4 cents per coin, as the impetus for ending its 232-year production run. "God bless America, and we’re going to save the taxpayers $56 million," Beach said before hitting a button to strike the final penny.

While the penny is no longer being made, the coin is still good for 1 cent and in circulation.

Most penny production ended over the summer, officials said.

Many Americans have a nostalgia for pennies, seeing pennies as lucky or fun to collect. And some retailers voiced concerns in recent weeks as supplies ran low and the end of production drew near. They said the phaseout was abrupt and came with no government guidance on how to handle transactions.

Some businesses rounded prices down to avoid shortchanging shoppers. Others pleaded with customers to bring exact change. The more creative among them gave out prizes, such as a free drink, in exchange for a pile of pennies.

Proponents of eliminating the coin cited cost savings, speedier checkouts at cash registers, and the fact that some countries have already eliminated their 1-cent coins.

Some banks began rationing supplies, a somewhat paradoxical result of the effort to address what many see as a glut of the coins. Over the last century, about half the coins made at mints in Philadelphia and Denver have been pennies.

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The Associated Press contributed to this report.