On Nov. 12, the U.S. Mint in Philadelphia ended the production of the one cent coin. Although the penny is still in circulation and is legal tender in all 50 states, the production has been cut off due to the higher price to make them than the coins’ value.

The U.S. first produced the penny in 1793. At the time, the value of the penny could purchase everyday items, such as food items and candles. Over time, the value of the penny has significantly decreased. Today, the penny is used as spare change and easily discarded. 

Some grocery and clothing stores have started to ask customers to round up when paying in cash, making it easier to give change back. 

The Timberlines staff believes that the U.S. Mint’s decision to stop the production of the penny is reasonable, as the cost to make them is approximately 3.7 cents. In 2024, the penny also accounted for 57 percent of the U.S. mints total production of coins. 

An estimated 300 billion pennies are in circulation, so they will not be exiting US exchanges any time soon. Although we believe that ending the production of the penny will save cost in the long run, the Timberlines staff is holding on to the nostalgia of the coin.