US to mint its last penny as Treasury halts production after more than 230 years

The U.S. Treasury will mint its final penny, marking the end of the coin's production. Treasury Secretary Scott Bessent will conduct a ceremonial minting. The penny has been in circulation for over 230 years. Rising production costs, with each penny costing nearly 4 cents to make, and the shift toward digital payments made its continued production impractical.

President Trump announced plans to halt penny production, stating, "For far too long, the United States has minted pennies which literally cost us more than 2 cents." This move is expected to save $56 million annually. Pennies can still be used and deposited, but no more will be minted.