U.S. Mints Final Penny as Retailers Press for Rounding Rules

Overview

• At a Nov. 12 ceremony in Philadelphia, Treasury officials oversaw the symbolic final striking after President Donald Trump ordered the halt earlier this year.
• The last pennies for circulation were produced in June; coins from the ceremony will be auctioned, with proceeds going to the Mint’s operations fund before transfer to the Treasury general fund.
• Retail groups report growing shortages at checkout and are urging federal guidance and congressional authorization for standardized cash rounding that would preempt conflicting state and program rules.
• Treasury cites higher production costs and diminished demand, with recent reporting placing the unit cost at roughly four cents per penny.
• Officials say the penny remains valid for payments, though estimates of coins still in use vary widely, from about 114 billion to more than 300 billion.