Start digging through your couch cushions and car cupholders, because your spare pennies might soon become collector’s items.
The U.S. Mint just produced its final penny—ever. Yep, the iconic one-cent coin is being retired, and it’s all thanks to a directive from President Trump and one very basic math problem: pennies cost more to make than they’re actually worth.
On Monday, the last-ever U.S. penny was minted in Philadelphia, ending a run that dates back to 1793. That first version was solid copper. These days, the little guys are mostly zinc with just a tiny copper coating—because even our coins can’t escape inflation. But despite the cheaper materials, the cost to produce each penny is still about 3.7 cents. That’s more than triple its face value.
President Trump ordered the Treasury Department to shut down penny production back in February, citing the cost inefficiency. Now that directive has officially been carried out, marking the end of a truly tiny era in American currency.
Don’t panic though—your existing pennies are still legal tender, and there are billions in circulation. But once they’re gone, they’re gone.
Some businesses are already adjusting by rounding prices to the nearest nickel when customers pay with cash. (That’s rounding both up and down, so no need to freak out just yet.) Others are now requiring exact change, which could make cash transactions a bit more awkward moving forward.
Critics of the move point out that ditching the penny may have some ripple effects, especially for folks who rely on cash and don’t have easy access to digital payments.
And here’s another sad twist… nickels are next on the chopping block. According to the U.S. Mint, each nickel costs 13.8 cents to make. So, we’re losing money on those too.
This isn’t the first time killing off the penny has been proposed, but it’s the first time it’s actually happened. For now, it’s a farewell to one of the most annoying and underappreciated parts of your pocket change—and possibly the start of a slow march toward a more cashless future.
And who knows? Maybe someday, that crusty penny at the bottom of your junk drawer will be worth more than a dollar. Probably not, but hey, stranger things have happened.