‘RIP penny, we will miss you’: Why US discontinued the coin after 232 years in circulation
Billions of pennies are still in circulation. Though they will remain legal tender, new ones will not be minted.
The US ended the production of pennies on Wednesday, marking the end of an era. The 1-cent coins that were in circulation for nearly 232 years were minted for the last time at the US Mint in Philadelphia, overseen by US Treasurer Brandon Beach.
Why was the penny discontinued?
The penny reportedly costs nearly four cents to make, which is more than the coin’s worth. Although it remains a legal tender, pennies are not widely used and are mostly found tucked away in junk drawers or coin jars.
US President Donald Trump ordered the Treasury Department to stop minting pennies in February. “For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful!” he wrote on Truth Social.
“I have instructed my Secretary of the US Treasury to stop producing new pennies.”
Social media says goodbye:
From welcoming the decision to questioning it to sharing goodbyes, the news prompted mixed reactions on social media.
An individual wrote, “RIP to the penny. 1793–2025. Finally ending America’s longest tradition: making money that costs more to make than it’s actually worth.” Another added, “Was consideration given to keeping the penny with revised size and weight? In the 1800s, there were two smaller coins: the Half Dime and the Trime.”
A third commented, “Finally! The penny stopped making sense ages ago—it costs more to make than it's worth. Time to let it go and save taxpayer dollars.” A fourth remarked, “Goodbye, Penny. I'll cherish the fond memories of searching for spare change to afford ice cream from the ice cream truck and having just enough pennies to get that bag of chips I wanted when I was a kid. You shall be missed.”
A few questioned if the penny would now be considered collectable. Just like this individual who asked, “Will the penny be a collectable now that supply is done?”
When was penny introduced?
It was introduced in 1793. At that time, a person could get a candle, a piece of candy or even a biscuit with one penny. Prior to the penny, the last coin, the half-cent, was discontinued in 1857.
(With inputs from AP)
