The United States Mint is set to strike its final penny for circulation today (November 12) in Philadelphia. This event marks the end of an era for the coin, which has been in use since the 1790s. U.S. Treasury Secretary Scott Bessent and U.S. Treasurer Brandon Beach will oversee the striking of the "final circulating penny" at 2 p.m.

The decision to cease penny production stems from the rising costs associated with minting the coin. Currently, it costs 3.69 cents to produce a single penny, making it economically unviable. Despite its discontinuation, the penny will remain legal tender and retain its value indefinitely , according to the Treasury Department. There are approximately 300 billion pennies still in circulation, far exceeding the amount needed for commerce.

The move to

See Full Page