Penny's Last Stand: US Mint Halts Production

On November twelfth, the United States Mint in Philadelphia struck its final circulating penny, marking the end of an era for the one-cent coin. The decision to halt production comes as the cost of making a penny has surpassed its actual value. President Trump ordered the pennys demise, citing that each one-cent coin now costs nearly four cents to produce. This makes the penny an increasingly expensive and somewhat obsolete part of our financial system. While many have sentimental attachments to pennies, retailers have faced challenges as the supply dwindled. The Treasury Department expects to save fifty-six million dollars annually by ceasing penny production. The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.