Overview

• The U.S. Treasury has placed its final order for penny blanks, marking the end of penny production starting in early 2026.
• Rising production costs, which have reached 3.69 cents per penny, have driven the decision, saving an estimated $56 million annually.
• Both Democratic and Republican lawmakers support the move, though permanent abolition requires Congressional legislation.
• President Trump directed the Treasury in February to halt penny production, citing inefficiency and waste.
• Future cash transactions will be rounded to the nearest five cents, with 114 billion pennies currently in circulation.