Treasury Department Places Final Order for New Pennies

After serving Americans faithfully since 1787, the penny is going to retire. The United States Treasury announced that he will not order again for penny blanks. This means that the new pennies will not be submitted to turnover after the current supply is exhausted.

Washington Post declare The treasury placed the last order for the blanks this month with expectations of the expanses to be depleted in early 2026. After that, you can continue to spend norms. But at once, enterprises will be forced to roll up or down to the nearest 5 kopecks for cash transactions.

Why does Penny get ax? Well, according to The 2024-year report of the US MintPennies cost about 4 kopecks to produce and distribute. Part of this is due to the growing material costs. Pennies are primarily from sink and its price per metric tone Twice as much since 2000.

In this many years, penny production has decreased. In 2024, Mint only made only 3.2 billion pennies compared to 11 billion each year In the 1990s. However, the last fiscal year, the mint still lost $ 85.3 million to the penis produced. According to the article, the agency estimated that $ 56 million a year from reduced material expenses of the year.

“Taking into account the cost of taxpayer, this is a more effective for the American taxpayer and the government, which makes the government more effective for the American people,” Treasury axios explained in a statement.

Negotiations about the trenches of the pen were around for a while. For example, the former Treasury Secretary Jacob Lew It is recommended Stops production in 2016. Americans also have was more suitable for the ideaPotentially reduced the use of cents in our daily lives. Hundreds of Americans, one-third of Americans, one-third of none, and those below 30 years old, did not use them.

Back in January Doge targeted pennyAnd, a month later, Trump, a truth about the “voice” pennies followed by social rantThe writing instructed the US Treasury Secretariat to stop the production of new pennies. Even if a penny, the Great Nations will grow waste from our budget. “

Being fair to penny, increasing production costs hit all the money. For example, a quarter 25% more to make in 2024 before the beginning (compared to the 17% increase in the penny). And, like a penny, the nickels are actually more expensive to spread more than it is valuable.

A centrifted pieces are not heard of the trench. New Zealand and Australia stopped In 1989 and 1992, respectively and Canada Pennies stopped production In 2012. The United States has stopped other coins before, the latest $ 20 gold is a double eagle coin.