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Holt points to traditions of putting pennies in loafers, of rhymes like “See a penny, pick it up, all the day you’ll have good luck,” of people who think an unexpected penny sighting could be a sign from a loved one who’s passed on.
The department says it has placed its final order for penny blanks, and production will end when they run out, which will likely be early 2026, according to The Wall Street Journal, which first reported on the decision.
The American penny has been in circulation since 1792. It will be discontinued because it is too expensive to make.
The American penny will begin its slow fade into non-existence as the government plans stop making the U.S. currency next year.
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After more than 200 years, we bid farewell to our small-denominated currency that grew to become a symbol of thriftiness and luck.
The cost of producing a penny has skyrocketed in recent years, reaching 3.69 cents, according to the Treasury Department.
The federal government is winding down production of the penny coin following a bipartisan effort to nix the lowest-denomination of U.S. currency over cost concerns, according to a plan outlined by the Treasury Department on Thursday.
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The End of the Penny Era How Fiscal Efficiency and Price Adjustments Will Shape the FutureThis move by the U.S. Treasury, motivated by rising production expenses and a call for fiscal frugality, has opened up an across-the-board debate about its effect on shoppers, retailers, and the entire economy.