After more than two centuries, the last ever penny was struck on Wednesday at the US Mint in Philadelphia.
US Treasurer Brandon Beach was on hand for the history-making moment, as the penny, which has been in circulation since 1793, was pressed for the very last time.
Today I attended the final penny strike, symbolizing the end of penny production and the return of common sense.
Each year the U.S. loses millions producing pennies as their demand plummeted. @POTUS and his Administration are here to deliver effective government reform. pic.twitter.com/kVQD0ujjyk
— U.S. Treasurer Brandon Beach (@TreasurerBeach) November 12, 2025
“God bless America, and we’re gonna save the taxpayers 56 million dollars,” Beach said before he pushed the button on the machine at the US Mint. “This is the last one – three, two, one!”
The Treasury Department notes that it costs about $56 million per year to make pennies.
The coins will still be legal tender in the U.S., though President Trump ordered the end of production for the currency bearing the image of President Abraham Lincoln. The final pennies will be auctioned off, Reuters reported.
.@TreasurerBeach, who oversees the U.S. Mint, pushes a button to create the last ever circulating penny.
The Mint says it’ll be auctioned off. pic.twitter.com/U7ZSrbJC1J
— Michael Stratford (@mstratford) November 12, 2025
“Treasury said rising production costs and rapidly changing consumer habits and technology had made production of pennies ‘financially untenable’ and unnecessary, noting that it costs 3.69 cents to make each penny, up from 1.42 cents a decade ago,” Reuters reported.
“Production of circulating pennies was suspended months ago, Mint officials said, but an unspecified number of additional one-cent coins – marked with an Omega symbol to signify the last of their kind – were made to be auctioned off in December,” the outlet added. “The Philadelphia Mint produced 232 of Omega-stamped coins for the auction, one for each year the penny was produced, plus three for display at Treasury and other institutions, a source familiar with the matter said. It also produced 235 gold pennies, the source said.”
THE LAST PENNY: U.S. Mint presses the last ever penny 232-years after its introduction pic.twitter.com/wybMfWWbbO
— FOX Business (@FoxBusiness) November 12, 2025
“This is the 19th consecutive year the United States government has lost money producing the one-cent piece and the nickel,” Representative Frank Lucas said in a statement to Reuters.
“Our bipartisan bill is working its way through the House to answer President Trump’s call and bring costs down for the taxpayer,” the Oklahoma Republican added, referring to legislation in the works to address coin-making costs.
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Originally from New York, Powers graduated from New York University and eventually made her way to sunny South Florida. Powers also contributes to BizPac Review.
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