U.S. Ends Penny Production After 232 Years, Coin Collectors React

In a significant shift in U.S. currency policy, the federal government has officially ceased production of the one-cent coin, commonly known as the penny. This decision marks the end of 232 years of minting the penny, with the Philadelphia Mint producing the final five circulating coins in mid-November 2023. The move follows an executive order from President Donald Trump, reflecting changing consumer habits and rising production costs.

According to the U.S. Treasury, the expense of manufacturing a penny has escalated to 3.69 cents, compared to just 1.42 cents a decade earlier. The Treasury’s analysis indicates that modern economic dynamics make the continued minting of pennies impractical.

Local coin collectors and dealers have expressed little surprise at this development. Bill O’Brien, owner of Northern Plains Coins in Fargo, has been in the coin business for 35 years and believes that the end of penny production will not have a significant immediate impact. “There are so many pennies already in circulation that it will take many years before the average person notices,” he stated.

Changing Value of the Penny

The sentiment among collectors is that the penny’s discontinuation signifies a broader decline in the value of U.S. currency. Jason Jenkins, bourse chairman at the Red River Valley Coin Club, remarked that the penny was once so valuable that it was exported for its base metal. “Now our pennies are practically worthless,” he commented.

Historically, pennies were made from copper, but they are currently produced from zinc with a copper plating. Jenkins suggested that alternatives like steel could have been explored to reduce costs instead of eliminating the penny altogether. He also raised concerns about the future of the nickel, which contains 75% copper and is also facing production cost challenges.

With the final pennies expected to be minted in 2025, Jenkins predicts that these coins will not hold significant collector value. “They will all be saved and remain uncirculated, so they will never be rare,” he said, noting that the rarity of a coin typically drives its value.

Impact on Coin Collecting and Businesses

Despite the decline in the penny’s value, certain rare coins continue to be highly sought after. The 1909 Lincoln penny produced in San Francisco, known for its engraver’s initials “VDB,” is particularly valuable, fetching prices between $500 and $1,000. Another notable coin is the 1955 double die penny, which can sell for up to $2,000 due to a printing error that caused a shadowing effect on the date and some letters.

The end of penny production could also lead to price adjustments in retail environments. As some regions in the U.S. are already experiencing penny shortages, businesses—especially convenience stores and fast-food chains—may need to round cash transactions. This change may add complexity to everyday transactions and affect pricing strategies.

In a time when precious metals like silver and gold are at all-time highs, Jenkins believes the discontinuation of the penny may encourage a new wave of interest in coin collecting. The Red River Valley Coin Club is planning its next show for the weekend of January 24-25, 2026, at the Hilton Garden Inn in Fargo, which could attract enthusiasts eager to engage with the evolving landscape of coin collecting.

The end of the penny is not just a financial decision; it reflects changing values in society and the economy. As the nation moves forward without this iconic coin, it remains to be seen how the landscape of currency and collecting will evolve in the years to come.