Penny's Last Stand: US Mint Stops Making Pennies
Update: 2025-11-19
Description
The United States Mint has ceased production of pennies in Philadelphia, marking the end of a 232-year run. This decision is due to escalating production costs and diminishing cash usage. Despite the halt, pennies remain legal tender, but their circulation will dwindle as older coins get lost or damaged. The shift towards digital payments, with cash now accounting for only 14% of consumer transactions, further underscores this change. Financial advisors recommend cashing in spare change, as coins are losing value, taking up space, and becoming less convenient. Businesses are expected to round cash transactions to the nearest nickel, making high-yield savings accounts a more attractive option for your spare change.
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