PHILADELPHIA - In a historic moment for American currency, the U.S. Mint has struck its final penny. After more than 230 years of continuous production, the one-cent coin is being phased out in a symbolic moment, shifting away from cash. As the penny is phased out, new challenges for shops and banks across America begin.

Why is penny production canceled?

What we know:

The U.S. Mint confirmed the cost of making pennies is more than the value of the coin itself. In 2024, it cost 3.69 cents to produce each penny , resulting in an $85 million loss for the Treasury.

Faced with mounting costs and diminishing use of the coin, the Mint placed its final order of penny blanks in May and declared the end of new penny production by early 2026.

However, the penny remains legal tender, an

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