STANDARDS
CCSS: 6.RP.A.3.C, MP6
TEKS: 6.5B
Bye-Bye, Penny!
Why did the U.S. decide to stop making 1-cent coins?
Stephen Hilger/Bloomberg via Getty Images
Pennies start as discs called blanks before being pressed into coins.
Editor’s Note: The final penny was minted in Philadelphia on November 12, 2025. This was several months earlier than estimated in this article!
Editor’s Note: The final penny was minted in Philadelphia on November 12, 2025. This was several months earlier than estimated in this article!
Last May, the U.S. Mint ordered its last batch of blank pennies. Blanks are the copper-covered zinc discs that get pressed into pennies. So when they run out sometime in 2026, the Mint will stop making the one-cent coins—for good. Though pennies remain at the heart of some of our most famous sayings, such as “a penny for your thoughts” or “a penny saved is a penny earned,” the U.S. has decided it’s time to phase out the coin. (Pennies will still be accepted, but no more new pennies will be created.) Eventually, we’ll follow in the footsteps of countries like Canada, Australia, and New Zealand, which got rid of their lowest-value coins years ago.
This decision makes sense for two major reasons: cost and usefulness. It currently takes 3.69 cents to put a penny into circulation—2.69 cents more than it’s worth. Multiply that by the 3.2 billion pennies produced in 2024, and the U.S. lost $86.4 million!
Last May, the U.S. Mint ordered its last batch of blank pennies. Blanks are the metal discs that get pressed into pennies. The Mint will run out of blanks sometime in 2026. Then they’ll stop making the one-cent coins—for good. The U.S. has decided it’s time to phase out pennies. (The coins will still be accepted, but no new ones will be created.) Countries like Canada, Australia, and New Zealand have already gotten rid of their lowest-value coins.
This decision makes sense for two major reasons: cost and usefulness. It currently costs 3.69 cents to make and circulate a penny. That’s 2.69 cents more than it’s worth. Now multiply that by the 3.2 billion pennies produced in 2024. The U.S. lost $86.4 million on pennies!
Jim West/Alamy Stock Photo
Inspectors check the coins for misprints.
“Lawmakers have been discussing the penny’s growing losses for decades, and a number of them have put forward new legislation to end production of the cent,” says Caroline Turco, a curator at the Money Museum at the American Numismatic Association. (Numismatics is the study of coins, paper currency, and similar objects.)
Yet cost isn’t the only problem. Pennies are essentially worthless in value. Common coin-payment devices like vending machines and parking meters won’t accept them. Many products—from snacks to clothing—cost more than a dollar to buy. “There has never been a coin in circulation within the United States worth as little as a penny is in today’s economy,” says Turco. Digital transactions are another reason that pennies aren’t needed. In a 2024 survey by the Federal Reserve Bank of Atlanta, people reported using cash for only 14% of their monthly purchases.
Without pennies, what happens when we do pay in cash? Registers will simply round transactions up or down to the nearest nickel. Nickels will work as the lowest-value coin, but for how long? After all, nickels cost even more to make than they’re worth—nine cents extra! Turco agrees that could be a problem. “I do think if the penny discontinuation goes smoothly, the nickel could be next,” she says.
“Lawmakers have been discussing the penny’s growing losses for decades,” says Caroline Turco. She’s a curator at the Money Museum at the American Numismatic Association. (Numismatics is the study of coins, paper currency, and similar objects.) More recently, some of those lawmakers proposed ending production of the penny.
Cost isn’t the only problem. Pennies are also hard to use. Devices like vending machines and parking meters won’t accept them. Most products—from snacks to clothing—cost more than a dollar. That makes pennies practically worthless. “There has never been a coin in circulation within the United States worth as little as a penny is [today],” says Turco. Plus, most transactions are now digital. The Federal Reserve Bank of Atlanta conducted a survey in 2024. People reported using cash for only 14% of their purchases.
Without pennies, what happens when we do pay in cash? Registers will simply round amounts up or down to the nearest five cents. Nickels will work as the lowest-value coin. But for how long? Nickels also cost more to make than they’re worth—a whole nine cents extra! Turco agrees that could be a problem. “I do think if the penny discontinuation goes smoothly, the nickel could be next,” she says.
Find percents related to the different coins made in the U.S. Round all percents to the nearest tenth. Record your work and answers on our answer sheet.
Find percents related to the different coins made in the U.S. Round all percents to the nearest tenth. Record your work and answers on our answer sheet.
The U.S. minted 14.2 billion pennies in 2000 but only 3.22 billion pennies in 2024. What percent of the 2000 total does the 2024 total represent?
The U.S. minted 14.2 billion pennies in 2000 but only 3.22 billion pennies in 2024. What percent of the 2000 total does the 2024 total represent?
A. It costs 3.7 cents to make a penny. What percent of its 1-cent value is that?
A. It costs 3.7 cents to make a penny. What percent of its 1-cent value is that?
B. It costs 13.78 cents to make a nickel. What percent of its 5-cent value is that?
B. It costs 13.78 cents to make a nickel. What percent of its 5-cent value is that?
C. It costs 5.76 cents to make a dime. What percent of its 10-cent value is that?
C. It costs 5.76 cents to make a dime. What percent of its 10-cent value is that?
D. It costs 14.68 cents to make a quarter. What percent of its 25-cent value is that?
D. It costs 14.68 cents to make a quarter. What percent of its 25-cent value is that?
A. Prior to 1982, all U.S. pennies weighed 3.11 grams: 2.955 grams of copper and the rest zinc. What percent of the penny’s weight did each metal make up?
A. Prior to 1982, all U.S. pennies weighed 3.11 grams: 2.955 grams of copper and the rest zinc. What percent of the penny’s weight did each metal make up?
B. Pennies weigh 2.5 grams today. Of that, 0.0625 grams is copper and the rest zinc. What percent of the penny’s weight does each make up?
B. Pennies weigh 2.5 grams today. Of that, 0.0625 grams is copper and the rest zinc. What percent of the penny’s weight does each make up?
