Overview
- The U.S. Mint confirmed on Nov. 12 that the last one‑cent coin was struck in Philadelphia, formally ending new penny production.
- Treasury estimates about $56 million in annual savings as per‑coin manufacturing costs have risen to roughly 3.7–4 cents.
- Pennies remain legal tender, with about 300 billion in circulation, and the final newly minted pieces will be auctioned, Treasurer Brandon Beach said.
- Retailers are beginning to round cash totals to the nearest five cents, while industry groups complain that federal guidance on rounding is insufficient.
- The last pennies intended for general circulation were produced in June, prompting some stores to conserve change supplies or ask customers for exact cash.