Treasury Department Stops Minting Pennies After 232 Years

After 232 years in circulation, the U.S. Treasury Department has officially stopped producing 1 coins, leaving businesses and consumers to adjust to life without the familiar penny.

Earlier this year, President Donald Trump directed Treasury Secretary Scott Bessent to cease minting the coin, citing the high cost of production. It was reported that making pennies was costing American taxpayers millions of dollars annually.

Retailers are now adapting by rounding prices to the nearest five cents. Some establishments round up, meaning an item priced at $2.23 might cost $2.25, while others round down to favor the customer and avoid complaints.

Additionally, some businesses are encouraging cashless payments, asking customers to rely on credit or debit cards instead of coins.

For those disheartened by the pennys retirement in the U.S., Canada ended its production of the 1 coin back in 2012.

Author: Zoe Harrison