US Mint Ends Penny Production: A Controversial Move
The U.S. Mint in Philadelphia is set to strike its last circulating penny on Wednesday, ending production due to the rising costs of manufacturing the 1-cent coin. President Donald Trump ordered the penny’s discontinuation as the cost to produce them exceeded their value. While the penny had a historical significance and some retailers voiced concerns about the abrupt phase-out, the Treasury Department anticipates saving $56 million annually by halting production. Despite this change, the nickel, dime, and quarter are still in production, though their cost of production also outweighs their value.
John Q. Hosedrinker