Overview

• The Treasury Department will end penny production by early 2026 following a directive from President Donald Trump.
• Each penny costs about 3.7 cents to produce, causing a net loss of $85 million in fiscal 2024.
• The Treasury has not indicated how long remaining blanks will last, leaving the exact date of pennies’ disappearance unclear.
• Retailers will round cash transactions to the nearest five cents once the penny is phased out.
• Public support for eliminating the penny has grown to 42%, aligning the U.S. with Canada, Australia and New Zealand in phasing out low-value coins.