President Trump hinted at the idea of stopping the production of pennies in February 2025. The United States Treasury Department has announced that it will stop the production of pennies in 2026.
According to the U.S. Mint’s 2024 annual report, each penny costs $3.69 to produce. This resulted in a loss of $85.3 million on the 3.2 billion pennies made in fiscal year 2024. The Treasury placed its final order for penny blanks in May 2025. Production is expected to cease once these blanks are used up, likely by early 2026. This move is projected to save $56 million annually.
Businesses will need to round cash transactions to the nearest five cents once pennies become scarce. Pennies will remain legal tender moving forward.
