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U.S. Treasury Confirms End of Penny Production by Early 2026

The Treasury has placed its final order of penny blanks, marking the phase-out of the one-cent coin after over 230 years of circulation.

One-cent U.S. coins known as the penny are shown in this illustration picture, after U.S. President Trump informed on his Truth Social media account that he instructed the Secretary of the US Treasury to stop producing new pennies, February 11, 2025. REUTERS/Mike Blake/File Photo
The US Treasury Department plans to discontinue production of new pennies starting early in 2026.
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Overview

  • The U.S. Mint will stop producing pennies once its current inventory of blanks is depleted, with production set to end by early 2026.
  • President Trump directed the Treasury in February to halt penny production, citing rising costs that make each penny cost 3.69 cents to produce.
  • The phase-out is expected to save taxpayers approximately $56 million annually, according to the Treasury Department.
  • Businesses will round cash transactions to the nearest nickel as the penny is gradually removed from circulation.
  • The decision follows international examples like Canada’s 2012 penny phase-out and reflects declining cash usage in the U.S.