What common U.S. coin had its last minting on November 12, 2025, as it cost more to produce than its face value?

The United States Mint ceased general production of the one-cent coin, commonly known as the penny, on November 12, 2025. This historic decision marked the end of a 232-year run for the nation's longest-circulating coin, primarily driven by economic realities. For nearly two decades, the cost to produce a single penny has consistently exceeded its face value. In 2024, for instance, it cost approximately 3.7 cents to manufacture a penny, resulting in substantial annual losses for taxpayers.

Discussions about discontinuing the penny have been ongoing for many years, with various proposals introduced in Congress to address the financial inefficiency. The underlying issue stems from the rising prices of the raw materials, primarily copper-plated zinc, used in its composition. This made each new penny minted a loss for the government, a situation that became increasingly unsustainable. Other countries, such as Canada, have already phased out their lowest-denomination coins for similar reasons, providing a precedent for the U.S. move.

While new pennies are no longer being produced for general circulation, the estimated 300 billion pennies already in existence will remain legal tender indefinitely. This means consumers can still use them for purchases, and banks will continue to accept them. However, as these coins gradually leave circulation through attrition and loss, cash transactions are expected to increasingly round to the nearest five-cent increment, utilizing the nickel as the lowest circulating denomination. This transition reflects an evolving landscape of commerce, where cashless transactions have become more prevalent and the practical utility of the penny has diminished over time.