Casa de la Moneda de Estados Unidos minted the last million coins after 232 years of legal tender. Brandon Beach, the country’s treasurer, is responsible for collecting every last cent at Casa de la Moneda in Philadelphia.
The decision comes after U.S. President Donald Trump ordered the Treasury Department earlier this year to halt production of the penny, citing its worthlessness and high cost. As this piece is widely known, it costs 3.7 cents to make a penny. In other words, each coin is typically worth four times its value. Moreover, producing and distributing money is much more expensive each year. According to Casa de la Moneda’s annual report, it increased by 20% in 2024. Increased raw materials (pennies are made from 97.5% zinc using a copper bath) are driving up the cost of producing coins.
“For too long, America has accumulated pennies that have literally cost us more than two cents,” President Trump wrote on his social network Truth earlier this year. “This is a great joy!” he added.
A dollar cent is one-hundredth of the U.S. standard currency. Penique was born in Philadelphia in 1793 under the patronage of Alexander Hamilton, the first Secretary of the Treasury.
A penny lasts 168 years longer than the average penny. Nickels, dimes, quarters, nickels, and dollar coins still exist, but they are often exotic because they are difficult to find.
Pennies will still remain in circulation, even years after the last coin was minted. Casa de la Moneda stopped producing 3.2 billion cents during past fiscal exercises and will not produce any in the future. It is estimated that about 250,000 cents are still in circulation in the United States, according to the Estadounidenses Bankers Association.
With the proliferation of digital payments, physical money is slowly disappearing. Low denomination coins, such as pennies, are only used for exchange when shopping. Traders have been warned that they are running low on the penny they need to trade with customers. Business associations in the commercial sector are asking Parliament to approve legislation that would allow for effective trade practices.
The penny is a very popular currency in the United States. Its presence in music, movies, and fashion has had a cultural impact. Great inspirational phrases — “Deme a pénique por cada idea y me hare millonario” or “Cada pénique cuenta.” You comply with Los Sueños de los Pequeños. Cents were used to buy caramel, gum, or sweets. They were hired to pay bribes and pay parking meters. But today they are doomed to collect octopuses in glass bottles or get lost in cajons and used clothing bags.
You can get great value for just a few pennies. There are unrelated works that are subject to the Collector’s Code, and collectors may end up paying a lot of money for them. For example, a penny with a miscalculation or a penny in good condition, such as a 1943 copper penny.
Brandon Beech explained that the one million tickets raised, or every last penny, would be a funding shortfall. Therefore, the last item in circulation at this value was accumulated in June of last year.
An article published last year in the New York Times said, “The need to abolish the penny has long been clear to those in power, and the failure to accomplish that has turned the coin into a symbol of deeper corruption.”
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