End of an Era: US Mint to Strike Final Penny as Trump Ends Costly Coin
The penny’s long run as America’s smallest unit of currency is officially coming to an end. According to The Associated Press , the U.S. Mint in Philadelphia is set to strike its last circulating penny on Wednesday…
The Penny’s long run as America’s smallest unit of currency is officially coming to an end.
According to The Associated Press, the U.S. Mint in Philadelphia is set to strike its last circulating Penny on Wednesday, marking the end of a tradition that dates back more than 230 years. President Donald Trump ordered the termination of the 1-cent coin after production costs ballooned to nearly four times its face value.
Back in 1793, when the first Penny was minted, it could buy a candle, a biscuit, or a piece of candy. Today, many of them sit forgotten in drawers and jars — and now, their time has run out.
“For far too long the United States has minted pennies which literally cost US more than 2 cents,” Trump wrote in an online post earlier this year. “This is so wasteful!”
The U.S. Mint has