US Penny Production Halted After 232 Years in Historic Move

The United States has officially stopped making pennies. The final one-cent coin was minted in Philadelphia. This ends the currency’s 232-year run.

US Treasurer Brandon Beach oversaw the last production run. The decision halts a longstanding American tradition. It follows an order from the White House earlier this year.

Rising Costs Seal the Penny’s Fate

The primary reason for discontinuing the penny is cost. According to the Associated Press, it costs nearly four cents to produce a single penny. This makes its production economically inefficient.

President Donald Trump ordered the Treasury Department to stop minting pennies in February. He called the process wasteful on his Truth Social platform. The coins will remain legal tender, but no new ones will enter the economy.

This move is not without historical precedent. The last US coin to be discontinued was the half-cent. It was retired back in 1857.

Public Reaction and the Penny’s Legacy

News of the penny’s end prompted a wave of reactions online. Many users shared nostalgic memories of using the coin. Others welcomed the decision as a practical, cost-saving measure.

One social media user bid a fond farewell to the coin. They recalled using pennies to buy treats from the ice cream truck. Another user questioned if the coins would now become valuable collectables.

The penny was first introduced in 1793. At that time, it could buy a piece of candy or a biscuit. Its journey through American history has now reached its conclusion.

The discontinuation of the US penny marks a significant shift in American commerce. This decision reflects changing economic realities. The iconic one-cent coin will now fade into history.

Thought you’d like to know-

Why did the US stop making pennies?

The US government stopped making pennies because they cost more to produce than they are worth. It costs nearly four cents to make a single one-cent coin. This was deemed an inefficient use of taxpayer money.

Are pennies still legal tender?

Yes, all existing pennies remain legal tender and can still be used for purchases. Businesses are required to accept them as payment. Only the production of new pennies has ceased.

When was the penny first introduced?

The US penny was first introduced in the year 1793. It was one of the original coins authorized by the Mint Act of 1792. A person could buy small items like candy or a candle with it.

Will pennies become valuable to collectors?

Some pennies, particularly those in mint condition or with rare errors, may see increased value. Common pennies in circulation are unlikely to become highly valuable soon. Their worth will be determined by collector demand over time.

What was the last US coin discontinued before the penny?

The last US coin to be discontinued before the penny was the half-cent. It was retired from production in the year 1857. This historical move set a precedent for retiring low-value currency.

Trusted Sources

Associated Press