No this isn’t a Trump decision to ban a Talking Heads album but a financial decision to halt the striking of US 1c coins for circulation.
One of the problems of low value coinage is that invariably the coin itself becomes less used as it has no purchasing power but cost of production spirals out of control due to the ever increasing cost of metal.
1 cent coins made since 1793
When it was introduced in 1793, the simple ‘penny’ (as it is still known) could purchase a candle or a cheap item of candy and was in regular use, but shoot forward 232 years and all it is now is a piece of change if someone purchases an item ending in 99c.
Alternatively, it is a cheap item for budding coin collectors or it gets thrown into a jar as owners don’t know what else to do with it.
On November 11, 2025, US Treasurer Brandon Beach travelled to the U.S. Mint in Philadelphia before hitting a button to strike the final 1c circulating coin (although wily marketeers at the US Treasury have indicated that they may still be made in small numbers in the future to be added to collector packs).
Stop making cents and save $56 million annually
“God bless America, and we’re going to save the taxpayers $56 million,” explained Treasurer Beach who also mentioned that the last American coin to be withdrawn from circulation was the half-cent in 1857.
The real fact is that in the past 10 years, the cost of producing each penny has risen from 1.42 cents to 3.69 cents, so an annual expected saving of $56 million is expected to be made and perhaps the Treasury hopes that hoarders of the estimated 300 billion 1c coins still in circulation will decide to bank them, thus allowing the Government to scrap them at a profit.
At this stage there is no intention to remove the 1c as legal tender but the various mints scattered across the USA simply won’t make any more.
1c coins remain legal tender but more won’t be struck for circulation
“Today the Mint celebrates 232 years of penny manufacturing,” said Kristie McNally, Acting Mint Director. “While general production concludes today, the penny’s legacy lives on. As its usage in commerce continues to evolve, its significance in America’s story will endure.”
