The Treasury is phasing out production of the penny, a coin that has been in circulation for centuries, in a move that is expected to save $56 million each year.

The Washington Post reported that the Treasury placed its final order for blanks this month with expectations that it will run out by early 2026. You can keep spending pennies as normal after that. But at some point, businesses will have to start rounding up or down to the nearest 5 cents for cash transactions.

The U.S. government is no longer going to mint pennies, and soon cash retail transactions will be rounded to the nearest nickel. What, exactly, does a single penny buy you these days? We took a drive around town to find out.

The Treasury Department will begin phasing out the penny early next year, ending a run for a mainstay piece of American currency first produced by the federal government in the 1790s. This month Treasury has made its final order of penny blanks — the ...

Treasury Department will take pennies out of circulation next year. Costly nickels, however, could cancel out savings.

Democrats and Republicans have long been critical of the penny, and President Trump called for its end back in a February social media post. Production will stop once the treasury runs out of the blank templates used to make them, according to the Journal. The final order of blanks was placed this month.