Mint orders last batch of pennies
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Everything is making less cents. The US Mint has placed its final order of penny blanks and will stop producing the coin when those run out by early next year — marking the beginning of the end for one of the oldest continually printed money pieces in America,
The federal government made its final order of penny blanks this month — the first step to end the production of the 1-cent coin, a spokesperson for the Treasury Department confirmed to USA TODAY.
The American penny will begin its slow fade into non-existence as the government plans stop making the U.S. currency next year.
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The federal agency placed its final order for penny blanks this month, with the United States Mint slated to end manufacturing of the penny when that runs out, a Treasury official told CBS MoneyWatch.
Treasury Department will take pennies out of circulation next year. Costly nickels, however, could cancel out savings.
The penny’s run is coming to an end. First minted in 1792, it has been in circulation constantly. It wll be sunseted next year. Afterward, things that cost a penny must “round up” or “round down” to a nickel.
Per the latest U.S. Mint report, it costs less than six cents to make a dime ($0.0576). To make a quarter, it costs about 15 cents ($0.1468), and nearly 34 cents for a half-dollar ($0.3397).