"First produced in 1793 during the early days of the US Mint, the penny was the oldest and longest-lasting US coin in circulation. That was until yesterday. On November 12, the coin was minted for the last time. The US Treasury Department had announced the decision to phase out America's oldest coin back in May, citing its current lack of practical use and the production costs, which totaled nearly 4 cents for every penny made, per the Congressional Research Service."
"The penny saw countless variations in its 232 years, from short-lived designs to mistake mints. Some editions, often minted in smaller batches or in error, were much rarer than others. The record for the most expensive penny ever sold was set in 2010 when an anonymous buyer paid $1.7 million for a 1943 Lincoln cent that was accidentally minted in bronze instead of copper, per Professional Coin Grading Service."
The US Mint produced its final one-cent coin on November 12, ending a 232-year run that began in 1793. The US Treasury Department announced the phase-out in May, citing minimal practical use and production expenses that exceeded face value, with manufacturing costing nearly 4 cents per penny according to the Congressional Research Service. The penny underwent numerous design variations and occasional minting errors across its history, creating rare editions treasured by collectors. The most expensive penny sold was a 1943 Lincoln cent struck in bronze by mistake; an anonymous buyer paid $1.7 million for that coin in 2010, per Professional Coin Grading Service.
Read at Business Insider
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