U.S. Treasury to Cease Penny Production

According to PANews, the U.S. Treasury Department has announced the cessation of penny production. The U.S. Mint has placed its final order for blank pennies, and once these are exhausted, no further production will occur. The Treasury Department highlighted that there are currently approximately 114 billion pennies in circulation in the United States, with a total value of $11.4 billion. However, the usage of these coins has fallen significantly below expectations. The penny was among the first coins minted by the U.S. Mint following its establishment in 1792.