In February 2025, President Donald Trump issued an order to cease the minting of pennies, citing their financial impracticality.
According to the U.S. Mint, in 2024, the cost of producing and distributing a single one-cent coin was about 3.7 cents. In recent years, the costs of minting have more than doubled, which is linked to the rising prices of copper used in coin production.
Despite the cessation of minting, pennies will remain in circulation. Currently, there are about 300 billion one-cent coins in the United States.
The history of one-cent coin minting in the U.S. began in 1793, with the opening of the Mint in Philadelphia, although the first pennies were minted six years prior to that.
Pennies are not the only American coins whose production costs exceed their face value. According to the Mint, in 2024, it cost about 14 cents to produce and distribute each five-cent coin.
Previously, the U.S. had already abandoned the minting of low-denomination coins, which was also related to the rising prices of copper. In 1857, Congress decided to stop issuing unpopular half-cent coins and reduced the size of the one-cent coin to decrease copper usage.
