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Treasury Department to phase out penny
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Top News
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Everything is making less cents. The US Mint has placed its final order of penny blanks and will stop producing the coin when those run out by early next year — marking the beginning of the end for one of the oldest continually printed money pieces in America,
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Money Talks News on MSNU.S. Mint Places Final Penny Order As Production Winds DownAfter more than two hundred years, the humble one-cent piece is on its way out due to production costs that significantly exceed its face value.
Per the latest U.S. Mint report, it costs less than six cents to make a dime ($0.0576). To make a quarter, it costs about 15 cents ($0.1468), and nearly 34 cents for a half-dollar ($0.3397).
Treasury Department will take pennies out of circulation next year. Costly nickels, however, could cancel out savings.
"The United States Mint will continue to manufacture pennies while an inventory of penny blanks exists," the spokesperson said. The agency did not specify how long the inventory was expected to ...
The U.S. Mint took top honors in "Best Circulating Coin" at the 2025 Mint Directors Conference for the work on the Jovita Idár issue in the American Women quarter dollar series.
There is currently no official plan to recall pennies, and financial institutions are expected to continue accepting them. While pennies will remain legal tender, they will gradually disappear from circulation, which is expected to impact product pricing.
The U.S. Treasury is discontinuing the penny, finalizing its last order for the coin due to its high production cost. Cash transactions will be rou