Goodbye to the Penny! Treasury Department announces plan to phase out the coin

The U.S. Mint has made its final order of penny blanks and will soon cease production of the 1-cent coin. - (AP2007)

The Treasury Department said it plans to stop producing the penny — as the cost to create the coin is nearly four times its worth.

The U.S. Mint made its final order of penny blanks and said it plans to halt the production of pennies once those run out, which will likely be in early 2026, according to The Wall Street Journal, which first reported the news.