U.S. Mint presses final cent after more than 200 years
America’s last penny was minted at the United States Mint in Philadelphia, ending coin production that began in 1793 and ended on November 12.
The last circulating pennies are scheduled to be auctioned next month.
The U.S. Mint announced the auction, which will be handled by Stack’s Bowers Gallery, in a news release on Tuesday, Nov. 18. The last circulating penny will be auctioned off Dec. 11 through a “special sale” of 232 three-coin sets representing the 232 years the penny has been in circulation, the agency said.
“The penny has endured 232 years of our nation’s history, and we are proud to offer our nation the opportunity to celebrate this moment forever by purchasing one of these special sets. We are truly honored to continue to connect America through our coins,” Mint Acting Director Christy McNally said in the release.
Each set includes two circulating pennies, one each from the Mint’s manufacturing facilities in Philadelphia and Denver, in addition to a “99.99% 24 karat gold uncirculated penny” also minted in Philadelphia.
Here’s what you need to know about the upcoming auction.
When is the penny auction held?
Live bidding for the penny set will begin on Thursday, December 11th at 12:00 PM ET. The auction will be hosted on Stack’s Bowers Gallery website and broadcast from Griffin Studios at the company’s headquarters in Costa Mesa, California.
Each set comes with a serialized certificate of authenticity. The final set, number 232, includes the three dice used to strike the coin.
The penny also bears Omega’s private mark, indicating that this coin is one of the last circulating pennies minted by the Mint. McNally and U.S. Treasurer Brandon Beach operated the printing press to strike the last Omega coin minted in Philadelphia.
“On behalf of the U.S. Mint, we are deeply honored to reintroduce this historic selection of modern rarities,” Brian Kendrella, president of Stack’s Bowers Gallery, said in a statement. “These Omega Private Mark Lincoln Pennies are a fitting celebration of one of the most popular and influential denominations in American coinage.”
Why was the penny abolished?
The last penny was minted on November 12, 2025. No other U.S. coin has been in circulation longer.
According to the U.S. Mint’s 2024 report, the cost to produce a 1-cent coin was 3.7 cents, an increase of 20% from the previous year. The U.S. Treasury recently said the penny is “no longer needed to meet the needs of the United States.”
The Department for Government Efficiency, formerly headed by Tesla and SpaceX CEO Elon Musk, recommended halting the production of pennies in January, saying it would cost taxpayers more than $179 million to produce 4.5 billion pennies in fiscal year 2023.
CNBC reported in May that the Mint estimated it could save $56 million in materials costs by not making pennies, and could save even more through improved production and efficiency.
The government has been producing the U.S. penny since 1793, according to the Treasury Department. The first pennies were made of pure copper and featured a woman with flowing hair. Abraham Lincoln, the nation’s 16th president, was first elected to Penny in 1909.
How much can Penny be auctioned for?
“Collectors will go crazy for the modern rarity of the Business Strike Lincoln cent,” John Feigenbaum, publisher of the rare coin price guide Gray Sheet, told USA TODAY last week, noting that the pennies at auction could be worth $2 million to $5 million each.
“The demand for this item will be incredible, as it will be a necessary element of a true ‘complete set,'” said Feigenbaum, who is also executive director of the Professional Numismatics Guild, a nonprofit organization comprised of many of the nation’s rare coin experts.
John Albanese, co-founder of CAC Grading, a rare coin authentication company involved in authenticating the U.S. Mint’s last Lincoln cent, estimates the 232-piece three-coin set will likely fetch about $45,000 to $50,000 each. He told USA TODAY on Nov. 18 that the coin is “very, very special.”
Mr. Albanese spoke with the auctioneer and confirmed that there were 232 auction lots, each lot containing zinc/copper pennies from a separate mint, and each lot containing one gold penny.
First of all, Lincoln coins are a collector’s favorite. “The most popular and most collectible coin ever since I was a kid was the Lincoln Penny,” he added. “So this checks that box in terms of popularity.”
“There will be thousands of very serious collectors who are interested,” he said. “There are hundreds of thousands of people who are not serious collectors but just want to buy pretty things…I hope they do well.”
Michelle Del Rey is a trending news reporter for USA TODAY. Please contact mdelrey@usatoday.com.
