The United States Mint struck its final circulating one-cent coin at its Philadelphia facility today, ending 232 years of continuous penny production.
The penny had its roots in the early Republic: Congress first authorized copper one-cent pieces under the 1792 Coinage Act, and production at the Mint began shortly after.
Since 1909, the coin has borne the profile of Abraham Lincoln on the obverse.
“God bless America, and we’re going to save the taxpayers $56 million,” said U.S. Treasurer Brandon Beach moments before pressing the button to mint the nation’s final penny per AP.
The move stems from mounting production costs and changing payment habits. The Mint estimates that each penny now costs approximately 3.69 cents to produce, almost four times its face value.
President Donald Trump announced in February that he was ordering his administration to end production of the coin, citing government waste.
“For far too long, the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful!” Trump wrote on Truth Social at the time. “I have instructed my Secretary of the US Treasury to stop producing new pennies.”
Last year was the 19th year that production costs of both the penny and nickel “remained above face value.”
In 2024, nickels cost 14 cents each to produce.