The United States has stopped minting one-cent coins. Authorities cited the penny’s irrelevance and high cost as the reason for this decision.
The penny was issued in the United States for 232 years. However, rising minting costs and changes in consumer behavior made the coin financially unsustainable. Over the past 10 years, the cost of producing one coin has increased by 2.27 cents.
The last pennies were minted on November 12 in Philadelphia. Despite the suspension of production, the coin will retain its status as legal tender.
In February of this year, US President Donald Trump ordered the Treasury Department to stop producing pennies. Following this, gas stations, fast food restaurants, and large stores began adjusting prices and rounding up cash payments.
The penny was one of the first coins produced by the United States Mint after its founding in 1792. The first copper cent depicted a woman with flowing hair, symbolizing liberty.
