The U.S. Treasury Department announced it will halt production of pennies due to their production cost exceeding their value, with the final inventory set to deplete by early 2026. President Trump initiated this decision, stating that it costs around 4 cents to produce a penny. About 114 billion pennies remain in circulation, allowing consumers to still use them until they deplete, leading to potential challenges in making exact change. The Treasury will instruct businesses to round transactions to the nearest 5 cents once the coins are out of circulation.
President Donald Trump ordered the U.S. Mint in February to stop making pennies, noting its high production cost. According to the U.S. Mint, it costs up to 4 cents to make just one penny.
The penny has been used as a currency in the U.S for about 233 years and was first introduced in 1792. The last pennies to enter circulation will happen in early 2026.
Consumers will continue to be able to use pennies to pay for purchases, the Treasury Department said, until the copper-plated coins run out.
After the last batch, making exact change might be a thing of the past. Businesses will be instructed to start 'rounding up or down to the nearest 5 cents'.
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