Penny's Last Mint: US to Cease Production
The US Mint will stop producing pennies after its final batch, anticipating an immediate annual savings of USD 56 million. Citing high production costs, President Trump ordered the cessation. While some advocate its discontinuation, others value its utility in charity and cost-effectiveness compared to the nickel.
Devdiscourse News Desk | Washington DC | Updated: 22-05-2025 22:01 IST | Created: 22-05-2025 22:01 IST
- Country:
- United States
The US Mint is making a historic shift by halting the production of pennies after its final order of blanks runs out. Confirmed by a Treasury Department official, this move is expected to save USD 56 million annually in material costs.
President Donald Trump announced in February that he ordered the stop of 1-cent coin production, aligning with the belief that the penny's cost — nearing 4 cents per unit — outweighs its utility.
Though some advocate for its abolishment, citing financial waste, others argue that the penny is valuable for charitable donations and remains more cost-effective than the nickel.
(With inputs from agencies.)
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