U.S. Mint strikes final penny, ending 233-year production in Philadelphia

The U.S. Mint struck its final penny today in Philadelphia, marking the end of 233 years of penny production. Each penny costs 3.69 cents to produce, and the phase-out of the coin is expected to save the government approximately $56 million annually. Despite the cessation of production, pennies will remain legal tender in the United States.

This decision follows a broader trend of reducing the production of low-denomination coins, which has been a topic of discussion among policymakers. For more on the implications of this decision, see related coverage.