What to do with your old pennies now that they're not making any more

The U.S. Treasury Department announced that it has stopped producing pennies , ending more than 230 years of minting the 1-cent coin.

The penny will remain legal tender and will still be accepted at retailers nationwide, but its long-term phaseout marks the end of an era for the copper-colored coin. The decision comes amid growing concerns over the cost of production and declining consumer use.

According to the Treasury, there are an estimated 114 billion pennies currently in circulation, many of which are stored away in coin jars, junk drawers or forgotten containers. Despite the vast supply, the coins are “severely underutilized,” officials said.

How much does it cost to make a penny?

President Donald Trump ordered the halt in production, citing the coin's inefficiency. It costs ne