The Penny just ran out of luck

Collector's could see an increase in value.

The United States has officially ended production of the penny, closing more than 230 years of circulation for the one-cent coin that once played a central role in daily commerce but has now become a costly and impractical relic.

The final pennies were struck Wednesday at the U.S. Mint in Philadelphia, bringing to an end a denomination introduced in 1793. Once capable of purchasing basic goods such as a biscuit or piece of candy, the penny has steadily lost purchasing power and now commonly ends up in jars and drawers, while costing nearly four cents to produce.

Federal officials said the move is expected to save taxpayers approximately $56 million annually. The last batch of coins has been preserved for display and auction, marking a symbolic farewell to the familiar copper-toned staple.

Though production has ceased, billions of pennies remain in circulation and will continue to be recognized as legal tender. The elimination marks the first time since the half-penny was discontinued in 1857 that a coin has been removed primarily due to declining value.

Retailers nationwide reported confusion as supplies tightened and guidance remained limited. Some businesses rounded prices downward, while others encouraged exact change or offered small incentives to return excess coins. Locally, CEFCO in Hearne has adjusted register systems to round transactions automatically, while area banks have begun modifying procedures to accommodate the change.

Supporters cited long-term savings, faster checkout times and international precedent. Canada halted production of its penny in 2012, rounding cash purchases to the nearest five cents while maintaining precise pricing for electronic payments. With digital transactions now dominating retail, advocates said the penny had become increasingly unnecessary.

The decision has also renewed debate over the cost of other coins. While the penny costs nearly four cents to produce, the nickel costs close to 14 cents. The dime and quarter also exceed their face value in production expenses, fueling speculation about future changes.

Historians and collectors noted the cultural loss, emphasizing the role coins have played in reflecting national identity and shared values. From childhood piggy banks to lucky keepsakes, the penny held a place in generations of American life.

As the nation transitions away from its smallest denomination, consumers are expected to see minor adjustments in cash handling, while electronic payments continue to reflect exact-cent accounting. The retirement of the penny signals a quiet but significant shift in American monetary history, closing a chapter that began in the earliest days of the republic.