U.S. Mint Strikes Its Final Penny Today

PHILADELPHIA — In a historic moment that has been decades in the making, the U.S. Mint is pressing its very last batch of pennies today at its Philadelphia facility, officially ending production of the iconic one-cent coin after 233 years of circulation.

Treasury Secretary Scott Bessent is scheduled to oversee the ceremonial striking, marking the close of a chapter that began with the Coinage Act of 1792.

The decision to halt penny minting stems from escalating production costs that have long outstripped the coin's nominal value. Each penny now costs 3.69 cents to produce—a 20% jump from the previous year—resulting in an annual taxpayer burden of over $179 million for 4.5 billion coins in fiscal 2023 alone.

President Donald Trump accelerated the phaseout in February 2025, directing the Treasury to cease operations as part of broader cost-cutting efforts inspired by recommendations from the Department of Government Efficiency (DOGE).

The Mint placed its final order of blanks in May and wrapped up manufacturing in August, but today's event symbolizes the definitive stop.

I guess the old saying, "can't rub two pennies together" takes on a whole new meaning now!