'Not even a single penny!' The idiom that comes to people's lips when they don't have even the smallest amount of money in their pocket is now set to take its place in the pages of history in a literal sense. Because, even if they remain in pockets or drawers, the century-old 1-cent coin—the penny—will no longer be produced in America.
This small-value coin was gradually losing its importance. Therefore, after being intertwined with America's economy and culture for a long 232 years, the US administration has finally decided to put an end to penny production. It had started in 1793. On Wednesday, the penny was minted for the last time at the Philadelphia mint. The small coin that could once buy biscuits, candles, or at least a few candies will no longer be made. Gradually leaving the market, this traditional coin will find its place entirely in collectors' jars.
Its production cost had become heavier than its value. Making a one-cent penny of copper-coated zinc cost the government treasury about four cents. Additionally, while the penny remained legal tender in terms of usage, its overall use had declined. The small coins bearing Abraham Lincoln's image would just lie in home drawers or coin jars. Therefore, US authorities claim that its comparatively expensive production has been administratively stopped. Before pressing the button to mint the last penny, US Treasury Secretary Brandon Beach said that 'God Bless America,' by stopping penny production, we can save taxpayers about $56 million. The last minted pennies will be auctioned off afterwards.
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In February this year, US President Donald Trump had instructed the Treasury Department to stop penny production. In a post on Truth Social, Trump wrote—"For far too long the United States has minted pennies which literally cost us more than 2 cents, This is so wasteful! I have instructed my Secretary of the US Treasury to stop producing new pennies. Let's rip the waste out of our great nations budget, even if it's a penny at a time."
Plastic cards had long ago stopped the jingling of loose change in pockets. Now QR codes and online banking have replaced them too. In this penny-less, card-less era, one cent has no value to the new generation of Americans. Surveys say nowadays, 55% of Americans don't spend a single penny in a year. Therefore, the penny was gradually becoming unimportant and irrelevant, unable to keep pace with the times. In one survey, 62% of Americans said they wouldn't pick up a penny if they saw one lying on the street.
While some have welcomed this step, most have become nostalgic about saying goodbye to this long-standing tradition. Social media is flooded with mixed reactions. Since its first minting in 1793, it had become completely intertwined with America's economy. A penny is 1/100th of a dollar. With it, one could buy a biscuit, a candle, or several small candies at that time. America last stopped making a coin in 1857. That was the half cent.
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Someone wrote on social media, "Rest in Peace Penny—1793–2025." Another user asked that, instead of stopping completely, couldn't changing its size or material to reduce production costs have been considered? In 1800, two small-sized coins had come to America—the half dime and dime. One user expressed that the step to stop production of this coin that costs more than its value will actually save taxpayers' dollars.
In 1857, America had stopped half-cent production. Now it's the penny's turn. Those who once scavenged in their pockets for change to buy ice cream, who bought a packet of chips for a few pennies in childhood—recalling memories, now they are saying—'Penny, we'll miss you.'
