It's curtains for the penny after more than two centuries in circulation
The last penny is about to drop. The U.S. Mint is poised to strike the final 1-cent coin on Wednesday, six months after the Trump Administration announced that it would stop producing pennies because the cost of making them is four times more than they’re worth, The Associated Press reported.
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US Mint presses last penny Wednesday. Here's how much it costs to make
One penny costs 3.7 cents to make, according to the latest 2024 U.S. Mint Annual Report. That is about 270% more than they are worth.
Are banks running out of pennies? What to know now that US Mint isn't making cents
Even though the U.S. Mint has quit making pennies, they remain legal to use. And you can still get them or deposit them at the bank.
The US will stop making pennies next year. Cash-only businesses are already affected
Penny production will stop next year. NPR's Ayesha Rascoe talks to Wake Forest Economics Professor Robert Whaples about the penny shortage already hitting some businesses.
Is there a shortage of pennies? Some stores are running out, here's what that means
Here’s what to know about when penny production stopped, what retailers are doing, which rare pennies could be valuable and how to identify them.
Burger Kings hoarding pennies and other stores rounding up — as US phases out one-cent coins
Scramble began after US Mint stopped penny deliveries to armored carriers in the wake of Trump’s February directive to eliminate the one-cent coin.
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