According to the Trump administration, the reason for the decision was to save federal money, “one penny at a time.” In 2024, ...

The U.S. Treasury will soon cease penny production, a change sparked by the disparity between the coin’s production cost and ...

As The U.S. Treasury Ends Penny Production, Here's What You Can Do With Your Spare Change Caitlin Clark, a night of ...

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It’s a coin that costs more to make than it's worth, sparks endless debate, and yet remains a ubiquitous part of daily life. The U.S. penny, a tiny copper-plated zinc disc, exists in staggering ...

Penny production will halt, thanks to an order sent in to the US Treasury by President Trump. The cease in production is ...

Pennies will still be legal tender, but cash prices will soon be rounded up or down to the nearest nickel (which cost even more to produce relative to their value than pennies). There are about 114 ...

If production costs get too high, the seigniorage – the difference between a coin’s face value and the ... are among nations that have either ceased to produce or have removed low-denomination ...

Although the coin will no longer be minted ... with the U.S. Mint estimating savings of around $56 million annually once production ceases. So what happens to the estimated 114 billion pennies ...

By stopping the penny's production, the Treasury expects an immediate annual savings of $56 million in reduced material costs, according to the official, who was not authorized to discuss the ...