U.S. to End Penny Production: Treasury Halts Coinmaking

The U.S. Treasury Department has officially announced the end of penny production, marking a historic shift in coinmaking practices. The U.S. Mint will cease producing pennies once existing blank blanks are exhausted. This signifies the final phase in this long-standing tradition. 114 billion pennies are currently circulating, contributing approximately $11.4 billion to the economy. However, usage has dwindled significantly, leading to the decision for penny production to be discontinued. The U.S. Mint began issuing pennies back in 1792.