The Penny’s Final Press

A small coin with a big story. After more than 230 years in circulation, the United States penny has struck its final run. At the U.S. Mint in Philadelphia, officials pressed the last commemorative pennies, marking the end of continuous production. Rising production costs — about 3.69 cents per penny — made the coin economically unsustainable. The decision is expected to save the government roughly $56 million a year. Pennies will remain legal tender, but cash transactions will be rounded to the nearest five cents. Tens of billions of existing pennies will continue circulating for years, even though new ones will no longer be minted.