The United States is ceasing production of the penny after more than 230 years, with the final batch to be struck by the Philadelphia Mint on Thursday. This decision aims to save money, despite the coins remaining in circulation.

• Pennies currently cost nearly four cents each to produce, more than double the cost a decade ago, saving an estimated $56 million annually.
• President Donald Trump announced the plan in February, citing the need to "Rip the waste out of our great nation’s budget."
• Approximately 300 billion pennies will remain in circulation, with a 2022 government analysis finding that about 60% of all circulating coins are stashed in homes.