232 years ago the first United States penny was struck at the Philadelphia Mint. The original design was a woman with flowing hair meant to represent Liberty. The Philadelphia Mint is also where the final penny was struck yesterday under the observation of U.S. Treasurer Brandon Beach.

What Exactly Does That Mean?

It means that for the first time since 1792 we will not be producing new "copper coins". It means that the U.S. Government is looking for different ways to save money in the face of a nearly $2 trillion annual deficit. The cost of producing a penny, or one cent, is not less than one cent. It doesn't even break even at one cent. The fact is, it costs more than 3.5 times the face value of a penny (3.69 cents) to make a penny.

It's an estimated savings of $56 million a ye

See Full Page