U.S. Mint ends production of the penny after 232 years

The United States Mint ended production of the penny as a circulating coin, marking the close of its 232-year run, according to officials. The final circulating one-cent coin was struck by U.S. Treasurer Brandon Beach during a ceremonial event at the Philadelphia Mint.

The ceremony took place on Wednesday, when U.S. Treasurer Beach oversaw the last strike. The decision, ordered by President Trump, ends new penny minting due to its production cost of 3.69 cents per coin, with projected savings of about $56 million a year.

“Today the Mint celebrates 232 years of penny manufacturing,” Acting Mint Director Kristie McNally said. “While general production concludes today, the penny’s legacy lives on. As its usage in commerce continues to evolve, its significance in America’s story will endure.”

The penny has been in circulation since its authorization under the Coinage Act of 1792 and has long been part of daily American life, but rising production costs and changes in consumer behavior have made continued minting unsustainable. Over the past decade, the per-coin cost increased from 1.42 cents to 3.69 cents.

Although production has stopped, pennies remain legal tender. The Mint estimates that roughly 300 billion pennies are already in circulation, far more than required for commerce. Retailers and other businesses may continue to price goods and services in one-cent increments.

The Mint will continue producing limited numismatic versions of the penny for collectors and historical preservation.