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5d ago

Treasury Confirms Final Penny Production to End by Early 2026

The U.S. Mint will cease manufacturing one-cent coins as inventory of blanks runs out, saving taxpayers $56 million annually.

One-cent U.S. coins known as the penny are shown in this illustration picture, after U.S. President Trump informed on his Truth Social media account that he instructed the Secretary of the US Treasury to stop producing new pennies, February 11, 2025. REUTERS/Mike Blake/File Photo
The US Treasury Department plans to discontinue production of new pennies starting early in 2026.
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Overview

  • The U.S. Treasury placed its final order for penny blanks in May 2025, with production set to end once supplies are exhausted by early 2026.
  • Businesses will be required to round cash transactions to the nearest five cents as pennies are phased out of circulation.
  • Each penny currently costs 3.69 cents to produce, with the phase-out expected to save $56 million annually in material costs.
  • President Trump directed the cessation of penny production in February 2025, citing inefficiencies, and bipartisan legislation has been introduced to formalize the change.
  • Canada's 2012 penny phase-out serves as a model for the transition, as the U.S. faces similar challenges with rising production costs for low-denomination coins.