"It's a sad day for piggy banks everywhere. And 99-cent stores. And parents trying to teach their children the most basic idiom about frugality. On Wednesday, the US Mint produced the final penny, ending the coin's 232-year-old life. Treasurer of the United States Brandon Beach struck the last one-cent coin in Philadelphia, the US Mint said. Born in Philadelphia in 1793, the penny had become a copper-coated emblem of government waste for some."
"The White House DOGE Office targeted the coin earlier this year, and politicians of both major parties have questioned its value. President Donald Trump criticized the penny in a Truth Social post in February. The US Mint estimated that ending penny production will save $56 million in material costs every year, a spokesperson previously told Business Insider. Each $0.01 coin most recently cost almost $0.04 to produce, according to the US Mint."
The US Mint produced the final penny on Wednesday, ending 232 years of one-cent coin production. Treasurer Brandon Beach struck the last penny in Philadelphia. The penny originated in Philadelphia in 1793 and had become a copper-coated emblem of perceived government waste for some. The White House DOGE Office and politicians from both major parties questioned the coin's value, and President Donald Trump criticized it on Truth Social. The US Mint reported that each penny cost almost $0.04 to make and that ending production will save roughly $56 million in material costs annually. About 300 billion pennies remain in circulation.
Read at Business Insider
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