But the U.S. won’t be the first country to discontinue the penny, as New Zealand stopped producing their one-cent coins in 1990, followed by Australia in 1992 and Canada in 2012.

The Treasury Department has pledged to stop producing the penny by early next year. Here's why — and what becomes of your one-cent coins.

READ ALSO: Making a mint of these US coins The most valuable one-cent coins The website Coin Trackers made a report of the most valuable pennies ever minted in the United States.

Object Details Description (Brief) One (1) cent coin United States, 1787 Obverse Image: Sundial below sun. Obverse Text: FUGIO / 1787 / MIND YOUR BUSINESS Reverse Image: 13 interlocking rings. Reverse ...

Only Congress has the power to do that, but what would happen if the United States got rid of the one-cent coin? The U.S. Mint said it lost $85.3 million last year minting 3.2 billion new pennies.

Treasury to phase out penny after Trump says coin no longer makes 'cents' The cost of making a penny has risen to more than twice the coin's face value.

Washington, DC, June 23, 2023 (GLOBE NEWSWIRE) -- The United States Mint (Mint) will open sales for rolls and bags containing the third American Innovation $1 Coin of 2023 on June 26 at noon EDT ...

Although pennies are almost never used for their ostensible purpose (to make purchases), right now one out of every two circulating coins minted in the United States has a face value of 1 cent.

The cost of producing a single penny has already skyrocketed to about 4 cents, while consumers have mostly shifted to digital payments and cards.

Collectibles Don’t forget to check your pockets: the everyday coin that could fetch you thousands of dollars You might not realise that you are the owner of one of these quarters, which could ...

President Trump says he has directed the Treasury Department to stop minting new pennies, citing the rising cost of producing the one-cent coin. "For far too long the United States has minted ...