The 230‑year era in the United States is ending: the final step for the penny coin
The U.S. Congress has passed a bill calling for the complete halt of penny production. If Trump signs it, the penny, which has been minted for more than 230 years, will officially cease, saving roughly $56 million annually.
The U.S. Congress has adopted a bill that foresees the complete end of 1‑cent coin production in the country. The final step for the regulation to take effect will be the signature of President Donald Trump.
Trump's Approval Awaited
After the vote in the Senate, the bill that passed through Congress will be presented for Trump's approval. If the president signs the law, the 1‑cent production that has continued in the U.S. for more than 230 years will officially end.
The U.S. Mint had halted the new 1‑cent production scheduled for release into circulation in November 2025. The Mint had announced that the last 1‑cent coin to enter circulation on that date had been minted.
Production Cost Has Risen
The U.S. Mint cited that the 1‑cent coin is no longer deemed necessary for the country's needs and the rising production costs as reasons for halting production.
In the statement, it was noted that the production cost of a cent has risen from 1.42 cents to 3.69 cents over the last 10 years. Thus, producing it at a cost higher than the coin's value became one of the key factors in ending the production.
Expected Annual Savings of 56 Million Dollars
With the complete cessation of cent production, the U.S. government is expected to save about 56 million dollars annually.
If the bill is also signed by Trump, the production period of the one-cent coin in the U.S. monetary system will officially be closed.
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