Holt points to traditions of putting pennies in loafers, of rhymes like “See a penny, pick it up, all the day you’ll have good luck,” of people who think an unexpected penny sighting could be a sign from a loved one who’s passed on.

The American penny has been in circulation since 1792. It will be discontinued because it is too expensive to make.

This move by the U.S. Treasury, motivated by rising production expenses and a call for fiscal frugality, has opened up an across-the-board debate about its effect on shoppers, retailers, and the entire economy.

Treasury Department will take pennies out of circulation next year. Costly nickels, however, could cancel out savings.

After more than 200 years, we bid farewell to our small-denominated currency that grew to become a symbol of thriftiness and luck.

The Treasury Department said it plans to stop manufacturing the penny, calling time on one of the first coins minted by the U.S. government. "CBS Evening News" co-anchor Maurice DuBois takes a look at the wisdom inspired by the centuries-old coin.

After over 200 years, the United States government plans to stop making new pennies, the Treasury Department told the Wall Street Journal.