The term “penniless” will take on a new meaning moving forward. The United States penny has officially been discontinued as of November 2025. The production of the coin was canceled by the U.S. Mint, leaving some Americans confused as to why it was necessary. Below, learn why the penny was discontinued by the government and what this means for the future of American currency.
Why Was the Penny Discontinued?
Donald Trump announced in early 2025 that they would discontinue future production of the U.S. penny in order to save taxpayers money.
“For far too long, the United States has minted pennies which literally cost us more than 2 cents,” Trump wrote in a social media post in February 2025, calling pennies “so wasteful!”
After striking the final penny in existence in November 2025, U.S. Treasurer Brandon Beach said, according to ABC News, “God bless America, and we’re going to save the taxpayers $56 million.”
The US stops penny production after 232 years, with Treasurer Brandon Beach visiting the Philadelphia Mint for the final coin https://t.co/sWaOieuksF pic.twitter.com/VSRBRd8qvp
— Reuters Business (@ReutersBiz) November 12, 2025
Furthermore, the value of the penny has clearly, significantly changed over the past several hundred years in America. In the late 1700s, a penny could be used to purchase various items, from a piece of candy to a mug of beer. By the late 20th century, a penny was used to purchase smaller products, such as a piece of gum.
Nowadays, pennies are used to count up to exact change or get tossed away into a fountain for good luck.
Does This Mean No More Pennies Will Be Made?
No more pennies will be made in the U.S., but pennies that have already been produced are still a part of the currency.
How Much Does it Cost to Make a Nickel?
The total cost of making a nickel is just over 13 cents.
How Much Did it Cost to Make a Penny?
As Trump previously said, it cost more than 2 cents to make a penny — approximately 3 cents for each coin.