PHILADELPHIA—The United States Mint has officially struck its final circulating penny, ending a 232-year chapter in American monetary history.
At a ceremonial event Wednesday inside the Mint’s Philadelphia facility, U.S. Treasurer Brandon Beach pressed the last one-cent coin, marking the close of a production run that began with the Coinage Act of 1792.
“Today the Mint celebrates 232 years of penny manufacturing,” said Acting Mint Director Kristie McNally. “While general production concludes today, the penny’s legacy lives on. As its usage in commerce continues to evolve, its significance in America’s story will endure.”
The Mint said a combination of rising production costs and changing consumer behavior made the penny increasingly impractical to keep in circulation. The cost of minting each coin climbed from 1.42 cents a decade ago to 3.69 cents today—more than triple the penny’s face value.
Even with production ending, the penny will remain legal tender, and roughly 300 billion of them already circulating far exceed the amount needed for commerce. Retailers may continue to price goods to the cent, and consumers can keep using existing pennies without interruption.
The Mint will still strike numismatic versions in limited quantities for collectors, ensuring the century-spanning coin retains a place in American history even as it exits everyday use.