The penny, which dates from the early days of the U.S. Mint after its establishment in 1792, now costs more to manufacture than the coin is worth.

President Donald Trump has nominated Louisiana state school board member Paul Hollis to run the U.S. Mint, which is responsible for producing coins for the federal government.

US News US Mint places final order to kill penny production as part of Trump’s order to ‘rip the waste’ out of budget By Patrick Reilly Published May 22, 2025, 3:42 p.m. ET ...

The biggest reason is cost with the penny costing more and more money to make than its worth. In fiscal year 2024, it took 3.7 cents to produce and distribute one penny, according to the 2024 U.S ...

Pennies are the most popular coin made by the U.S. Mint, which reported making 3.2 billion of them last year. That’s more than half of all the new coins it made last year.

Despite the penny’s loss in practical value, it remains the most widely printed coin in the US. The Mint reported making 3.2 billion of them just last year — more than half of all new coins ...

In fiscal year 2024, it took 3.7 cents to produce and distribute one penny, according to the 2024 U.S. Mint report. The 2024 cost was up by 20% from the previous year, according to the report.

Pennies are the most popular coin made by the U.S. Mint, which reported making 3.2 billion of them last year. That’s more than half of all the new coins it made last year.

The U.S. Mint has made its final order of penny blanks and plans to stop producing the coin when those run out. FILE – Freshly-made pennies sit in a bin at the U.S. Mint in Denver on Aug. 15, 2007.

In 2010, for instance, a New Jersey man sold a 1943-D Lincoln Bronze Cent for $1.7 million, the largest amount ever paid for a penny. As is the case with most valuable coins, that penny is prized ...

There are around 240 billion pennies in circulation in the U.S. currently, so the chances of any given penny being one of these valuable coins is around 1 in 8.8 billion.