TOLEDO, Ohio (WTVG) - A penny saved is a penny earned, right? Since the U.S. Treasury is winding down penny production, some major businesses are feeling the pinch.

In May, the Trump administration decided to phase out new penny production. The U.S. Mint reported that it cost 3.9 cents to make the penny in 2024.

It marked the 19th consecutive year that the penny cost more to make than its face value. Makes “cents” right?

Well, a letter from the National Association of Convenience Stores to the Senate Banking and Housing Financial Services Committees stated in part, “As you are aware, the U.S. Mint produced its last pennies in June of this year. The Federal Reserve distributes these coins throughout the nation and is reporting that dozens of coin distribution locations have already run o

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