U.S. Will Stop Minting Pennies Next Year

The U.S. Treasury will cease production of pennies next year, making the common practice of storing them in household containers potentially more valuable in the future. The decision follows the treasury department’s final order for penny blanks, expected to run out by early 2026, as reported by The Wall Street Journal.

The penny, also known as a “cent,” has a long history dating back to 1793 and has been a prominent part of the U.S. Mint’s operations. The decision to halt production came after President Donald Trump expressed a desire to end the minting of pennies due to the rising production costs, which currently exceed the coin’s face value.

The move is estimated to save the government $56 million annually, given the increasing costs of producing a single penny over the past decade. With a composition of 97.5% zinc and 2.5% copper, minting pennies has become more costly than printing $1 bills, according to the Federal Reserve.

While pennies will continue to be legal tender for transactions, their gradual disappearance from circulation is expected to impact pricing strategies, with businesses likely adjusting to rounding off to the nearest nickel. Despite the potential for increased value in the future, the immediate impact of the coin’s discontinuation remains uncertain.

The decision to eliminate the penny aligns with similar moves made in the past to retire certain denominations due to lack of use or production costs. As the penny joins the list of discontinued U.S. currency denominations, collectors may still find value in possessing them, though any significant increase in worth is unlikely to occur overnight.