U.S. Mint Officially Retires the Penny: The Last Pennies Ever Struck in Philadelphia

Historic Farewell to the Penny

• 🏛️ The U.S. Mint in Philadelphia has officially retired the penny, marking a historic occasion after 168 years since the last coin discontinuation (the half-cent in 1857).
• 👤 The penny bears the likeness of Abraham Lincoln, a figure known for his meticulousness and integrity, exemplified by his nickname "Honest Abe" and his dedication to ensuring exact change.

Fiscal Responsibility and Cost Savings

• 💰 The decision to end penny production is driven by fiscal responsibility, with production costs tripling over the last decade while demand has plummeted.
• 📉 The Department of the Treasury and President Trump believe continued penny production is no longer necessary or fiscally responsible, aligning with a common-sense agenda.
• 💸 Ending penny production is projected to save American taxpayers approximately $56 million per year in production costs alone.

The Penny's Continued Legal Tender Status

• 🔄 Although production is ceasing, the penny remains legal tender, with over 300 billion pennies still in circulation.
• 🗣️ The public is encouraged to continue using pennies at stores and retail outlets, as they are not being eliminated from circulation.

Auctioning the Final Pennies

• 🖼️ The last two pennies minted will be auctioned off, with proceeds going to the public enterprise fund at the U.S. Mint before being returned to the general fund.
• 🤝 Special thanks were given to Christy McN, acting director of the U.S. Mint, and her team for their work in producing the coins.