The U.S. Mint just pressed its final penny

"After being in circulation for 232 years, the U.S. Mint in Philadelphia hosted a ceremonial event during which U.S. Treasurer Brandon Beach struck the final circulating penny."

"There are an estimated 300 billion pennies currently in circulation, a number "far exceeding the amount needed for commerce," the Mint said in a statement but retailers say they've already been dealing with coin shortages and a lot of confusion about how to price goods and services."

"Indeed, the Mint said the cost of making a penny has more-than doubled during the past decade, to 3.69 cents per penny."

"Americans for Common Cents is a pro-penny lobbying group that has an incentive to keep the coins in circulation as it is primarily funded by Artazn, the company that provides the blanks used to make pennies."

The U.S. Mint struck the final circulating penny in a ceremonial event after 232 years of production. Approximately 300 billion pennies remain in circulation, a quantity described as far exceeding commerce needs, while retailers report coin shortages and pricing confusion. Production ceased following a February directive from President Donald Trump, citing rising production costs; minting a penny now costs 3.69 cents. Lawmakers have proposed eliminating the penny for decades, and proponents such as Americans for Common Cents, funded by Artazn, have argued elimination could shift demand to more expensive coins like the nickel.

Read at Fast Company