The U.S. Mint in Philadelphia recently struck the final pennies, ending production of the 1-cent coin after more than two centuries.

Penny production began in Philadelphia in 1793, just a year after the Coinage Act was passed by Congress.

Driving the news: The decision to cease penny production was driven by cost concerns, as producing each penny now costs nearly 4 cents, making it economically inefficient. • President Donald Trump ordered the discontinuation of the penny, criticizing ongoing minting as wasteful given the coin’s declining practical value in modern transactions. • Despite billions of pennies still circulating, the coin has become largely irrelevant to everyday financial exchanges in today’s economy. • Many Americans hold nostalgic value for pennies, viewing them as

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