US Treasury to End Penny Production by 2026

The U.S. Treasury announced it will end penny production, with the final order of blanks placed in May 2025 and the last coins expected to enter circulation by early 2026. This decision, supported by President Trump, bipartisan lawmakers, and specific legislation such as the Make Sense Not Cents Act and the Common Cents Act, aims to save $56 million annually, as each penny costs nearly four cents to produce. Businesses will eventually round cash transactions to the nearest nickel, following similar international precedents. Despite being the most commonly minted U.S. coin, with 3.2 billion produced last year and 114 billion in circulation, the penny's limited utility and high production cost drove the change. Supporters highlight taxpayer savings and environmental benefits, while opponents cite the coin's role in charity drives and American tradition. The U.S. Mint will continue striking pennies until existing blanks are used up, ending a coinage tradition dating back to the 18th century.