*The penny, America’s longest-running coin, has officially reached the end of its 232-year run.
During a ceremonial event in Philadelphia, U.S. Treasurer Brandon Beach struck the nation’s final penny, symbolizing the close of an era, USA Today reports. The U.S. Mint estimates there are about 300 billion pennies still circulating — “far exceeding the amount needed for commerce,” according to a statement from the agency.
Retailers across the country have already reported confusion and shortages as they adapt to pricing without the one-cent coin. The transition followed months of preparation after President Donald Trump announced in February that he had instructed the U.S. Mint to halt penny production. The decision came amid rising costs, with the Mint revealing it now takes 3.69 cents to make a single penny — more than double what it cost a decade ago, according to Fast Company.
The official end was also driven by recommendations from Elon Musk and the Department of Government Efficiency earlier this year, which pushed for phasing out outdated or costly government programs. Despite this move, not everyone agreed that the penny’s time was up.
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A lobbying group called Americans for Common Cents has long defended the coin’s place in U.S. currency. The organization, primarily funded by Artazn — the company that supplies the blank discs used to mint pennies — argued that eliminating the penny could backfire economically. In February, the group claimed that ending penny production might raise overall minting costs if public demand for nickels increases, since nickels are even more expensive to produce. They instead urged officials to modernize coin production rather than discontinue it entirely.
No other American coin has endured as long. “The penny is an iconic American coin,” said Gabriel Mathy, a professor of economics at American University. “It’s the end of an era.”
While pennies for everyday use are being phased out, the U.S. Mint plans to continue producing small quantities for collectors and historical purposes. The agency said, “Retailers and other businesses can continue to price goods and services in one-cent increments.”
Acting Mint Director Kristie McNally reflected on the coin’s legacy, saying, “While general production concludes today, the penny’s legacy lives on. As its usage in commerce continues to evolve, its significance in America’s story will endure.”
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