The department says it has placed its final order for penny blanks, and production will end when they run out, which will likely be early 2026, according to The Wall Street Journal, which first reported on the decision.

The US Treasury is phasing out production of the penny and will soon stop putting new one-cent coins into circulation, the department said in a statement Thursday.

Holt points to traditions of putting pennies in loafers, of rhymes like “See a penny, pick it up, all the day you'll have good luck,” of people who think an unexpected penny sighting could be a sign from a loved one who's passed on.

The federal government made its final order of penny blanks this month — marking the first step to end the production of the one-cent coin, a spokesperson for the U.S. Department of the Treasury confirmed to USA TODAY.

The penny was one of the first coins made by the US Mint, entering circulation in 1793. But over the past 10 years, the cost of producing it has risen from 1.3 cents to 3.69 cents per coin, according to the Treasury. The Mint estimates that stopping ...

The U.S. Mint is set to stop producing pennies, marking the end of an era. With production costs soaring and the utility of the penny dwindling, this decision aims to save millions annually. As the penny fades into history,

Treasury Department will take pennies out of circulation next year. Costly nickels, however, could cancel out savings.

After more than 200 years, we bid farewell to our small-denominated currency that grew to become a symbol of thriftiness and luck.

The cost of producing a penny has skyrocketed in recent years, reaching 3.69 cents, according to the Treasury Department.

“You can go to your own bank or credit union and not pay any fee,” said Kimberly Palmer, personal finance expert at NerdWallet. Both NerdWallet and Bankrate offer tip sheets on exchanging coins for cash. Most banks will take an account holder's coins for free, Bankrate reports, but not all, and you may need to roll the coins yourself.

This move by the U.S. Treasury, motivated by rising production expenses and a call for fiscal frugality, has opened up an across-the-board debate about its effect on shoppers, retailers, and the entire economy.