After over 200 years, the United States government plans to stop making new pennies, the Treasury Department told the Wall Street Journal.

"Confirming the WSJ story, the Treasury has made its final order of penny blanks this month and the United States Mint will continue to manufacture pennies while an inventory of p

The Treasury Department said it plans to stop manufacturing the penny, calling time on one of the first coins minted by the U.S. government. The federal agency placed its final order for penny ...

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).

The cost of producing a penny has skyrocketed in recent years, reaching 3.69 cents, according to the Treasury Department. By Alan Rappeport and Karoun Demirjian The Treasury Department is winding ...

The Treasury Department said it plans to stop manufacturing the penny, calling time on one of the first coins minted by the U.S. government. "CBS Evening News" co-anchor Maurice DuBois takes a look at the wisdom inspired by the centuries-old coin.

There is currently no official plan to recall pennies, and financial institutions are expected to continue accepting them. While pennies will remain legal tender, they will gradually disappear from circulation, which is expected to impact product pricing.