U.S. Mint Produces “Last Penny” After 232 Years of Circulation

At the facility of the United States Mint in Philadelphia on November 12, 2025, production of the one-cent coin (Penny) officially ended, marking the conclusion of more than two centuries of continuous minting.

Treasurer Brandon Beach and Deputy Secretary of the Treasury Derek Theurer presided over a final press of pennies with five commemorative pieces bearing a special “Omega” symbol, which will be auctioned rather than put into general circulation.

“Today we retire the penny,” Theurer said during the event.

Kristie McNally, Acting Mint Director, at the ceremonial strike event hosted by The United States Mint (Mint) on Nov. 12, 2025, said:

“Today the Mint celebrates 232 years of penny manufacturing, While general production concludes today, the penny’s legacy lives on.”

The penny’s production cost at the time of this final decision had reached approximately 3.69 cents per coin, more than triple its face value, causing persistent annual losses.

The coin will remain legal tender, and the estimated 300 billion pennies already in circulation will continue to be accepted.

Historically, the U.S. one-cent coin traces its roots to the early years of the nation. The first penny under federal minting authority appeared under the Coinage Act of 1792, with production beginning in 1793.

Earlier material compositions changed over time, from nearly pure copper in the 18th and 19th centuries, to bronze, to zinc-coated steel during 1943, and since October 1982 to copper-plated zinc (97.5% zinc, 2.5% copper).

The last lower-denomination coin retired before this was the half-cent, withdrawn in 1857. 

The decision to cease penny production followed mounting evidence that the coin’s cost of fabrication and distribution had outstripped its utility, and even Elon Musk (the world's richest man) also expressed his views to kill the penny.

In May 2025, the United States Department of the Treasury announced it had placed its final order of penny planchets and said that manufacturing would stop once existing blanks were spent.

President Donald Trump posted in February 2025 that penny production was “so wasteful,” instructing the Treasury Secretary to halt it.

Independent analysis and government figures indicated production of pennies was running at a loss to taxpayers, and just alone for fiscal year 2024, the reported shortfall was approximately US$85.3 million.

At the Philadelphia Mint, when the last penny was minted on nov. 12, 2025, workers stood on the factory floor as the final coins were pressed. When the last batch emerged, applause broke out among employees.

“It’s an emotional day,” said one mint employee of 15 years.

Officials stated that the machines will be reconfigured to focus on other denominations, while the five commemorative pennies struck during the event will be placed for auction rather than entering circulation.

Though no new pennies will be made for general circulation, those already in use remain legal tender. Retailers and banks will not be required immediately to change rounding practices, but some businesses have already begun informing customers that change may be rounded up or down in cash transactions.

With millions of pennies still estimated in circulation, it may take years before the practical effects of the production halt become apparent.

While the penny is no longer being produced, discussions continue regarding other coinage, such as the nickel, which also costs more to manufacture than its face value.

The final minting of the one-cent coin (Penny) closes a chapter in U.S. numismatic history that spanned 232 years of continuous production.