US Mint halts penny production after 230 years
TL;DR
The US is ending penny production after over 230 years to save approximately $56 million annually, as the coins now cost more to produce than their face value and are increasingly obsolete due to electronic transactions. The coins will remain in circulation, but businesses are already adjusting prices, and the move is part of a broader trend of phasing out low-value coins in other countries.
- US ends penny-making run after more than 230 years BBC
- The last-ever penny will be minted today in Philadelphia CNN
- It's curtains for the penny after more than two centuries in circulation NBC News
- US Mint to strike 'final circulating penny' on Wednesday, Nov. 12 USA Today
- Penny shortage threatens completion of Provo business’s unique floor project KSLTV.com
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