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The penny, also known as the cent, is a coin in the United States representing one-hundredth of a dollar.It has been the lowest face-value physical unit of U.S. currency since the abolition of the half-cent in 1857 (the abstract mill, which has never been minted, equal to a tenth of a cent, continues to see limited use in the fields of taxation and finance).
A debate exists within the United States government and American society at large over whether the one-cent coin, the penny, should be eliminated as a unit of currency in the United States. The penny costs more to produce than the one cent it is worth, meaning the seigniorage is negative – the government loses money on every penny that is ...
This table represents the mintage figures of circulating coins produced by the United States Mint since 1887. This list does not include formerly-circulating gold coins, commemorative coins, or bullion coins. This list also does not include the three-cent nickel, which was largely winding down production by 1887 and has no modern equivalent.
The agency’s 2024 annual report said the penny’s cost was “above face value” for the 19th year in a row. It cost 3.69 cents to produce a penny in 2024, up from 3.07 cents in 2023 .
Trump said pennies “cost us more than 2 cents” to produce. Actually, each penny or Lincoln one-cent piece cost roughly 3.7 cents including overhead costs to make in fiscal 2024, the Mint reported.
President Trump announced Sunday that he is telling the Treasury Department to stop minting pennies, ending a 233-year run of the 1-cent coin. The penny, one of the first coins made by the U.S ...
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