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The Treasury unveils its plan to kill the penny
- The U.S. Treasury Department confirmed on Thursday that it will stop producing pennies when current blanks run out.
- This decision comes after President Donald Trump directed his administration in February to stop manufacturing the one-cent coin, amid ongoing efforts to eliminate it.
- The U.S. Mint has placed its last request for penny blanks and plans to halt coin production once the current supply is exhausted, anticipating annual material cost savings of $56 million by discontinuing the penny.
- The penny costs nearly 4 cents to produce, according to the U.S. Mint, while advocates highlight the coin's high production cost and limited utility.
- Congress could permanently end penny production through legislation, with two bipartisan bills introduced this year aiming to retire the coin permanently.
350 Articles
350 Articles
A day after Treasury announces it will end penny production, Gov. Polis applauds the move
DENVER, Colo. (KRDO) – A day after the U.S. Treasury Department announced it will be phasing out the production of pennies completely, Colorado Governor Jared Polis says he's glad to see the change, calling it a "great move." On Thursday, a Treasury spokesperson told CNN that the U.S. government has placed its final order of penny blanks, and the U.S. Mint will only continue producing pennies until the current supply is depleted. This move follo…
Trump's Plan To End the Penny Pays Off: US Treasury Winds Down Minting of the 1-Cent Piece - RetailWire
It looks like the American penny’s days are numbered, bringing to fruition President Donald Trump’s stated plan to scrap the U.S. one-cent piece. According to ABC 7, the Treasury Department has released a statement that the U.S. Mint, which operates under the department’s oversight, will no longer produce pennies once it runs out of blank templates used to produce the coins. The last order of penny blanks was put through earlier in May. “Additio…
U.S. to Stop Making Pennies, Congress Eyes Laws - The Southern Maryland Chronicle
WASHINGTON — The U.S. Mint will cease production of the penny once its final order of penny blanks is depleted, a Treasury Department official confirmed on May 22, 2025. The decision, driven by a 20% increase in production costs in 2024, is expected to save $56 million annually in material expenses. The official, not authorized to speak publicly, provided details on condition of anonymity.In February, President Donald Trump ordered the Treasury …
The Penny is Dead – The U.S. Treasury Announced it Will Officially Stop Manufacturing The Penny in 2026
Newsweek – The U.S. Treasury Department has announced that it plans to stop manufacturing the penny, the smallest value coin in the United States, after more than two centuries in circulation.The depa...
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