Overview
- Treasury Secretary Scott Bessent and U.S. Treasurer Brandon Beach oversaw the Nov. 12 ceremonial strike in Philadelphia, including five pennies bearing a rare omega mark that the government plans to auction at a later date.
- The Mint cites a roughly 3.69–4 cent production cost for each one‑cent coin and projects about $56 million in annual savings from ending routine penny minting.
- Some retailers have posted notices requesting exact change or penny turn‑ins and have begun rounding cash totals to the nearest nickel, while electronic payments continue to be charged exact amounts.
- Rounding rules vary by payment type and jurisdiction, with Alabama allowing rounding on cash purchases but not for card transactions or SNAP benefits, which must be charged at the exact price under federal law.
- Numismatists say most circulating pennies will not gain significant value, though rare dates, mint errors and the final specially struck coins could draw auction interest, and the Mint will continue limited collector issues as existing pennies circulate for years.