U.S TREASURY PRODUCED THE LAST MINT AS THEY RETIRE THE ONE CENT AFTER 232 YEARS

The United States Mint recently produced the final one-cent coin ever, in accordance with the U.S. Treasury Department's announcement that manufacture of the penny would cease in May 2025. The penny's 232-year history as a circulating coin has officially come to an end. At a factory in Philadelphia, US Treasurer Brandon Beach ceremoniously struck the last coin, which will eventually be put up for sale.

Acting Mint Director Kristie McNally stated, "Today the Mint celebrates 232 years of penny manufacture." The penny's legacy endures even though the main manufacture ended today. Its importance in the history of America will endure as its use in business continues to develop. For historical and collector purposes, the Mint will nevertheless continue to make limited amounts of numismatic replicas of the penny.

Since its inception in 1793, the penny has been a part of the American economy. But it's not as shiny as it used to be. The discontinuation of the one-cent coin is attributed by the U.S. Mint to manufacturing and economic considerations as well as changing customer behaviour. First of all, the cost of generating each penny has increased by around 160%, from 1.42 to 3.69 cents, making its production unsustainable. Additionally, it has long since lost its purchasing power because even a few pennies can't buy what they could decades ago.

But just because manufacturing for the penny has come to an end, that doesn’t mean it’s no longer in use. Only due to the fact that there are so many of them already, there is just no need to make any more, but for those who worried, the penny will remain legal tender. The U.S. Mint thinks there are around 300 billion pennies in circulation, which is considerably more than what the market requires at present.