What Does the Future of the Penny Look Like Now that It's Being Phased Out?

What does the future of the penny look like now that it's being phased out?

It costs about four pennies to make one penny, and despite the nation's efforts to lower the cost of minting the coin by using zinc, the US is still losing about $86 million each year on pennies, a coin you'll have a hard time spending.

Penny phase-out sparks renewed coin-collecting interest; impacts NH businesses

With the U.S. Mint ending production of the penny, businesses, charities, and coin collectors in New Hampshire are already feeling the impact.

Penny pinching: Ramifications of coin’s demise extend beyond nostalgia

By: Huascar Medina As of Nov. 12, the penny will no longer be minted as a form of legal tender. The reasons cited included the… Login to continue reading Login Sign up for complimentary access Sign Up Now Close

The penny is dead. Local businesses, customers weigh in on the coin’s value.

The life of the penny has officially come to an end, potentially causing ramifications on how money is spent and how businesses operate. The U.S. Mint ended production of the penny Nov. 12 after more than 230 years of circulation. President Donald Trump retired the coin to reduce government spending, he said in an online post in February. According to the U.S. Mint, it costs around 3.69 cents to produce one of the coins, which cost taxpayers mor…