Overview
- U.S. Treasurer Brandon Beach oversaw the ceremonial final strike on Nov. 12 at the Philadelphia Mint, concluding the circulating penny’s 232-year run.
- Pennies remain legal tender, with an estimated 250–300 billion still in circulation, though new coins will no longer be produced for everyday use.
- Treasury projects about $56 million in annual savings since each penny costs roughly 3.69–4 cents to make.
- Retailers and banks report localized shortages, rationing, and ad hoc rounding, as industry groups push Congress for standardized rules such as the Common Cents Act.
- The last coins bear a special omega mark for auction, the Mint will issue limited numismatic versions for collectors, and scrutiny is increasing on costly denominations like the nickel.