According to the Ministry of Finance, our penny production will end
According to a statement from the Treasury, 233 years later, the US will officially discontinue penny production this month.
Penny for your thoughts? Or maybe they’re worth nickel as the Treasury is following President Donald Trump’s proposal to stop making pennies.
Last month, the Treasury put down a flat metal disc to make the final blank order – a penny, in a move that began to move by President Donald Trump in February. He claims that it costs more than three cents to produce coins (3.69 cents in reality, according to the US Mint).
It turns out to be a coin curtain, which raises many questions. What does Penny’s End Mise mean to consumers and collectors? Is the last penny worth it? This is what we know.
If the US stops making them, is penny worth more?
i doubt it. The US Mint made roughly 3.2 billion pennies in 2024, making billions of pennies available for 2025, according to its annual report. “Statically, there’s nothing to say is worth it,” John Feigenbaum, executive director of Professional Mumismatists Guild (PNG), the publisher of Rare Coin Price Guide Greysheet and the nonprofit made up of many rare coin experts, told USA Today.
Coin’s legacy could be similar to the 1976 Bicentennial quarter, Fagenbaum said. “Everyone was hoarding them back then (and) you couldn’t find a bicentennial quarter. Now people have plastic bags full of them and they’re still worth 25 cents,” he added.
However, the 2025 Penny can have an alternative value as an entry point for collectors. “This certainly would cause a surge in demand… in other Lincoln Penneys, like going back to 1909,” Feigenbaum said, adding that Lincoln Penney, who first featured the 16th President that year, “done quite a bit.”
Parents can get a book collecting Lincoln Pennycoin – options include the option of Whitman Publishing, which publishes Graysheet, talking about “American history, and who this Lincoln man is, and what the various designs are.”
Should I take good care of the 2025 penny?
It’s not the time you want them to be valuable. Just as there was misleading hype about the value of Lincoln Wheat Penny, there may be misinformation about the increase in value for the 2025 Penny.
That’s nonsense, Fagenbaum said. According to Fagenbaum, they said they “have less value” and preferred to remove the penny.
It’s probably a good time to bring all the coins that collect dust in cups and piggy banks to your bank or coin star machine. According to the Federal Reserve, the average home has between $60 and $90 in its home.
Remove the penny. Does it save US money?
perhaps. Without making pennies, it would cost more than $179 million taxpayers to create taxpayers, based on Department of Government Efficiency (DOGE) figures previously connected to Tesla and SpaceX CEO Elon Musk.
Mint in the US estimates that it will save $56 million on material costs by not making penny.
“For every penny the US government prints, we’re actually losing money. So that’s a net cost for the federal government,” Raymond Robertson, director of the Bush Government and Mossbacher Institute for Trade, Economics and Public Policy at Texas A&M University, said in a news release.
However, the lack of penny probably means dependence on nickel, which means production is even more expensive. That’s 13.78 cents, says Mint of the US.
If US mint makes more nickel, “it’s actually going to increase government costs,” Robertson said. “So it’s not really clear how much cost savings the government will achieve by eliminating pennies,” he added.
One of the bills introduced in the House of Representatives (HR 1270) (technically, Congress retains the authority to eliminate currency) also proposes removing nickel.
What does Penny’s End Mise mean for price?
There is no time frame where the price is set at 5 cents. This is a move to change all prices that end at 49 cents or 99 cents due to a penny shortage.
According to the Wall Street Journal, the Treasury Department says businesses need to close up and down if there are not enough pennies for stores and other retailers to make changes.
For the time being, merchants can keep the price intact, but 18% to 20% of Americans who rely on cash can ultimately pay a rounded price based on a 5-cent increment. “If someone comes to you with cash, you’ll close, right? And if you’re poor, if you’re a bit double screwed,” Maurer told USA Today.
Other countries that have eliminated low-denominational coins (such as Australia, Canada and New Zealand) have resulted in outcomes, with some prices rising and some falling, according to Money.com.
As the movement to eliminate coins and paper currencies continues, a publicly accessible digital payment system will be needed to allow consumers of all income levels to participate, Maurer said.
However, according to Maurer, physical currency losses remove redundancy in the invaluable financial system during disasters and emergencies. “The more we rely on cashless payment methods, the higher the risk we put ourselves in when we have an emergency or disaster.
Contributions: Fernando Cervantes, Daniel de Vis and Melina Kahn.
Mike Snyder is a reporter for the trending team at USA Today. You can follow him in the thread, send BlueSky, X with X and send him an email Bliss & @mikegsnider.bsky.social & @mikesnider &msnider@usatoday.com
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