The Penny Is Dead After 232 Years—Why You Shouldn’t Get Rid of It

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Unfortunately, making the one-cent coin really did cost a pretty penny.

The U.S. Mint produced the last penny on November 12th in Philadelphia, marking the end of a 232-year run for the coin – almost as long as the United States has existed as a nation. U.S. Treasurer Brandon Beach oversaw the final minting.

To mark the end of the penny, the U.S. Mint held a special ceremony where they officially struck a commemorative coin.

The U.S. Mint is marking 232 years of making pennies. According to acting Director Kristie McNally, although the Mint will no longer generally produce pennies after today, the coin will still be remembered and valued.

The U.S. Mint has stopped making pennies, but around 300 billion copper coins—worth about $3 billion—are still being used. Interestingly, some older pennies are now worth a surprising amount, with a few valued at up to $1.7 million.

McNally added that even as its use in business changes, its importance to American history will remain.

Authorized by law in 1792, the penny has become a familiar part of both our economy and our culture. Businesses often use its small value in pricing strategies – like ending prices in .99 to make them seem lower – but the penny has also influenced fashion, with styles like penny loafers, and even appeared in films. Examples include the 1936 movie Pennies From Heaven, and its 1982 remake starring Steve Martin and Bernadette Peters.

The U.S. Mint is stopping penny production because it now costs more to make a penny than the penny is actually worth. They’ve reported that the cost of making each penny has increased from 1.42 cents to 3.69 cents.

After the announcement that the penny would be discontinued, people on social media responded in many ways, with a lot of the reactions being funny.

One user jokingly asked on X (formerly Twitter) what people would get in return for sharing their opinions now. Another user responded with a pun, saying the change ‘doesn’t make any cents’.

A fake Twitter account pretending to be the late President Abraham Lincoln – who has been featured on the penny since 1909 – posted a very blunt reaction, saying, “Well this really sucks.”

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2025-11-13 04:17