The U.S. Treasury announced it's phasing out production of the one-cent coin and has made its final order of penny blanks.

Treasury Secretary Scott Bessent claimed Friday that the United States can ‘retool’ the nickel following an announcement that the Treasury Department will cease all penny production by early 2026. “I think we can retool the nickel and change the composition of the alloys so that a nickel is worth a nickel,

Holt points to traditions of putting pennies in loafers, of rhymes like “See a penny, pick it up, all the day you’ll have good luck,” of people who think an unexpected penny sighting could be a sign from a loved one who’s passed on.

The Treasury Department said it plans to stop manufacturing the penny, calling time on one of the first coins minted by the U.S. government. The federal agency placed its final order for penny ...

A Treasury Department spokesperson said that "the United States Mint will continue to manufacture pennies while an inventory of penny blanks exists." The Mint said in its 2024 annual report that ...

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).

The Treasury Department said it plans to stop manufacturing the penny, calling time on one of the first coins minted by the U.S. government. "CBS Evening News" co-anchor Maurice DuBois takes a look at the wisdom inspired by the centuries-old coin.

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.