Farewell to the Penny: US Ends 232-Year Tradition Amid High Production Costs

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The US has officially discontinued the production of pennies, marking the end of a 232-year era. The last penny was minted at the Philadelphia US Mint on Wednesday, under the supervision of US Treasurer Brandon Beach. The decision to stop producing pennies was made due to the high cost of production, which stands at nearly four cents per coin, significantly more than its value. While pennies remain a legal tender, they have become largely obsolete and are often found in storage or collections. US President Donald Trump had ordered the Treasury Department to halt penny production in February, citing the wastefulness of producing coins that cost more to make than their worth. Social media users have reacted to the news with a mix of emotions, ranging from relief to nostalgia. Some users have questioned whether the penny could be redesigned to be more cost-effective, while others have fondly remembered using pennies for everyday purchases. The penny was first introduced in 1793, when a single penny could buy a candle, candy, or even a biscuit. Prior to its introduction, the last coin in circulation was the half-cent, which was discontinued in 1857. As the supply of pennies dwindles, collectors may begin to seek out the coins as a rare commodity. However, the decision to stop producing pennies is expected to save taxpayer dollars, which could be allocated towards more pressing needs. The end of the penny era marks a significant change in the way Americans make payments and handle small transactions, but it also brings an end to a long-standing tradition that has been a part of American culture for centuries.