THE US MINT WILL PRODUCE THE LAST EVER BATCH OF PENNIES ON NOVEMBER 12TH IN PHILADELPHIA.

 

THE PENNY WAS ONE OF THE FIRST COINS MADE BY THE U.S. MINT AFTER ITS ESTABLISHMENT IN 1792.

 

IN FEBRUARY, PRESIDENT DONALD TRUMP ANNOUNCED THAT HE HAD ORDERED HIS ADMINISTRATION TO CEASE PRODUCTION OF THE 1-CENT COIN.

 

ADVOCATES FOR DITCHING THE PENNY CITE ITS HIGH PRODUCTION COST — ALMOST 4 CENTS PER PENNY NOW, ACCORDING TO THE U.S. MINT.

 

FANS OF THE PENNY CITE ITS USEFULNESS IN CHARITY DRIVES AND RELATIVE BARGAIN IN PRODUCTION COSTS COMPARED WITH THE NICKEL, WHICH COSTS ALMOST 14 CENTS TO MINT.

 

THERE ARE ABOUT 114 BILLION PENNIES CURRENTLY IN CIRCULATION IN THE UNITED STATES — THAT’S $1.14 BILLION.

 

GONE ARE THE DAYS WHEN NEARLY ANYTHING COST A SINGLE CENT.

 

PENNIES TODAY ARE USED TO CREATE EXACT CHANGE IN A CASH TRANSACTIONS, THEY CAN BE USED AT PENNY SLOT MACHINES AT SOME CASINOS, AND THEY ARE ALSO LEFT ON THE GRAVESTONES, ESPECIALLY FOR FALLEN SOLDIERS, AS A WAY OF PAYING RESPECT.

 

OVER TIME THE PENNY WILL FILTER OUT OF CIRCULATION, MAKING IT A CURRENCY OF THE PAST.