Treasury Dept Unveils Plan To Stop Minting Pennies

CBS News reports:

The Treasury Department said it plans to stop manufacturing the penny, calling time on one of the first coins minted by the U.S. government. The federal agency placed its final order for penny blanks this month, with the United States Mint slated to end manufacturing of the penny when that runs out, a Treasury official told CBS MoneyWatch. The blanks — flat, metal discs that the Mint turns into coins — will run out in early 2026.

The penny, which dates from the early days of the U.S. Mint after its establishment in 1792, now costs more to manufacture than the coin is worth. The 1-cent coin cost about 3.7 cents to manufacture and distribute in 2024, according to the U.S. Mint’s 2024 annual report. Ending production of the penny will save the Mint about $56 million in annual savings, the Treasury said on Thursday

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Treasury Department will phase out production of pennies and will soon stop putting new one-cent coins into circulation. cnn.it/4kAGxmq

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— CNN (@cnn.com) May 22, 2025 at 11:03 AM

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