penny, Treasury Department
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After over 200 years, the United States government plans to stop making new pennies, the Treasury Department told the Wall Street Journal.
The U.S. Treasury announced it's phasing out production of the one-cent coin and has made its final order of penny blanks.
"Confirming the WSJ story, the Treasury has made its final order of penny blanks this month and the United States Mint will continue to manufacture pennies while an inventory of p
The US Treasury is phasing out production of the penny and will soon stop putting new one-cent coins into circulation, the department said in a statement Thursday.
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Per the latest U.S. Mint report, it costs less than six cents to make a dime ($0.0576). To make a quarter, it costs about 15 cents ($0.1468), and nearly 34 cents for a half-dollar ($0.3397).
Treasury Secretary Scott Bessent claimed Friday that the United States can ‘retool’ the nickel following an announcement that the Treasury Department will cease all penny production by early 2026. “I think we can retool the nickel and change the composition of the alloys so that a nickel is worth a nickel,