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2h ago

U.S. Strikes Final Pennies, Plans Auctions as Stores Start Rounding

The move aims to save roughly $56 million a year for taxpayers.

Treasurer of the United States Brandon Beach holds the last penny stamped at the US Mint on November 12 in Philadelphia.
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A worker at the Mint making nickels with different metals during World War II, when nickel was needed for the war effort. The Mint is experimenting with once again changing the composition of the nickel, this time to save money.
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Overview

  • Routine penny production ended on Nov. 12 at the Philadelphia Mint after per-coin costs climbed to roughly 3.69–4 cents, according to Treasury and Mint figures.
  • Officials say a limited run of omega-marked final strikes, including the last five pennies, will be auctioned, with sale details to be announced.
  • Some estimates project prices up to $2–$5 million for select pieces, but experienced numismatists warn most pennies will see little to no premium beyond scarce varieties.
  • Pennies remain legal tender with hundreds of billions still in circulation, and the Mint will continue limited collector issues even as circulating production ceases.
  • Retailers and banks report localized shortages, leading some cash transactions to round to the nearest nickel and prompting calls for clear federal guidance, while policymakers also scrutinize the nickel’s above-cost production.