U.S. Treasury Department To Stop Penny Production
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The U.S. Mint has made its final order of penny blanks and plans to stop producing the coin when those run out.
Treasury Department will take pennies out of circulation next year. Costly nickels, however, could cancel out savings.
The US Treasury Department says it will phase out production of new pennies early next year. It said that the cost of making pennies had increased markedly, by upward of 20 percent in 2024.
The US Mint has made its final order of penny blanks and plans to stop producing the coin when those run out, a Treasury Department official
“For far too long the United States has minted pennies which literally cost us ... plans for nickel production. It did estimate an immediate savings to taxpayers of $56 million from the halt of ...