US Ends Production of the Penny After 232 Years The US has ended production of the penny, abandoning the 1-cent coins that have been part of American culture for more than 230 years but have become nearly worthless. When it was introduced in 1793, a penny could buy a biscuit, a candle or a piece of candy. Now, most of them are put aside to sit in jars or drawers, and each one costs nearly 4 cents to make. The US Mint said this decision would save the country's taxpayers $56 million per year. The last few pennies that were produced are going to be auctioned. Billions of pennies are still in circulation and people will still be able to use them, but new ones will no longer be made. Most penny production ended over the summer, officials said. During the final pressing, workers at the mint stood quietly on the factory floor, as if saying goodbye to an old friend. When the last coins emerged, the men and women clapped and cheered. Clayton Crotty, who has worked at the mint for 15 years said it was "an emotional day." President Donald Trump ordered the penny's demise as costs rose and the 1-cent valuation became virtually obsolete. Still, many Americans have a nostalgia for them, seeing pennies as lucky or fun to collect. And some businesses shared concerns in recent weeks as supplies ran low and the end of production drew near. They said the phaseout was abrupt and came with no government guidance. Some stores rounded prices down to avoid shortchanging shoppers. Others asked customers to bring exact change. The more creative among them gave out prizes, such as a free drink, in exchange for a pile of pennies. The US is not the first place to say goodbye to its pennies — Canada did the same in 2012, while many European countries round prices up or down instead of giving out 1 or 2 cents in change. But many people may not even notice the end of the penny, because they only pay by tapping their cards!