Farewell to the Penny: Historic US Coin Reaches Its Final Mint

The US Mint in Philadelphia is set to strike its last circulating penny as President Trump cancels the 1-cent coin due to high production costs. While many lament the coin's phasing-out, its obsolescence and reduced necessity in transactions make this decision largely pragmatic in the modern era.

The historic decision to discontinue the production of the penny marks the end of an era for the US Mint in Philadelphia, where these coins have been crafted since 1793. President Donald Trump announced the move in light of rising costs, with production expenses reaching nearly four cents per coin.

A divergence of opinions surrounds the phasing out of the penny. While some value the coin as a charming keepsake or symbol of luck, others, like the National Association of Convenience Stores, criticize the abrupt manner of its discontinuation and the lack of guidance on handling existing stock and transactions.

Treasury officials, including Secretary Scott Bessent, argue the end of the penny will save the department $56 million annually, despite mixed reactions among retailers and consumers. Historians, however, reflect on the cultural significance of the penny as a chronicle of American history and identity.

(With inputs from agencies.)