Unfortunately, making the one-cent coin really did cost a pretty penny. After 232 years in circulation—nearly as long as the United States of America has been a country—the final penny was minted on November 12 in Philadelphia by United States Treasurer Brandon Beach.
For this historic event, the United States Mint held a ceremonial strike to commemorate the end of the one-cent coin. “Today the Mint celebrates 232 years of penny manufacturing,” acting Mint Director Kristie McNally shared in a statement. “While general production concludes today, the penny’s legacy lives on.”
Although no more pennies will be created, there are still an estimated 300 billion copper coins in circulation—that’s $3 billion in value—and they can still be used. Plus, some previously minted pennies are worth up to $1.7 million.
“As its usage in commerce continues to evolve,” McNally continued, “its significance in America’s story will endure.”
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