The final penny has been produced. The U.S. Mint marked this occasion recently, ending a long-standing tradition. The move comes after the Trump administration decided that making pennies is more costly than they’re worth—almost four times their face value.
From now on, only collector pennies will be minted, and they won’t be used as currency. This historic change took place in Philadelphia, where Treasury Secretary Scott Bessent and Treasurer Brandon Beach watched the last penny roll off the press.
Despite this change, around 250 billion pennies are still floating around in our economy, according to the American Bankers Association. In February, President Trump announced the decision to stop penny production, saying it was wasteful. He noted, “For far too long, the United States has minted pennies which literally cost us more than two cents.”
The penny, originally called the cent, has a rich history. The first one was created in 1787, featuring a sundial designed by Benjamin Franklin. The U.S. Mint took control of penny production in 1793 after Congress established the Coinage Act.
Over the years, the penny has undergone several redesigns. Notably, in 1909, the image of President Abraham Lincoln was introduced to commemorate his 100th birthday. This design remains on the penny today.
Ending penny production is expected to save taxpayers around $56 million each year. The penny might seem nearly worthless today—after all, you can’t even buy penny candy with it anymore—but it holds significant cultural weight. Phrases like “pinching pennies” and “pennies from heaven” highlight its lasting impact on our language.
The penny may soon become a relic of the past. Yet its role in our daily lives, however small, has been transformative. As we adjust to this change, we’ll likely remember the penny for what it represented: a slice of American history.
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