The U.S. Treasury is discontinuing the penny, finalizing its last order for the coin due to its high production cost. Cash transactions will be rou

The US Treasury confirms the cessation of penny production, citing high manufacturing costs. President Trump initiated the halt to save $56 million annually. While congress may enshrine this action in law,

Per the latest U.S. Mint report, it costs less than six cents to make a dime ($0.0576). To make a quarter, it costs about 15 cents ($0.1468), and nearly 34 cents for a half-dollar ($0.3397).

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.

Eliminating the penny is expected to save $56 million a year, according to the Treasury spokesperson. “There are about 114 billion pennies currently in circulation in the U.S., but they are severely underutilized,” the spokesperson said.

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.