No more passing them on the sidewalk. No more stashing a few in your loafers. And definitely no more tossing them into a wishing well.
That’s because theU.S. Treasury has announced it will stop producing the penny, with the last new ones entering circulation in2026.
So, what does this mean for your “small change”? Probably not much—at least not for a long time. There are currently114 billion penniesin circulation—roughly900 for every householdin the U.S. So while production will end, the penny won’t disappear from our daily lives overnight.
Why the change? In a word: cost.It currently costs3.7 cents to produce a single penny.And the nickel may not be far behind, as it now costs13.8 cents to make.
One headline summed up the concern with perfect drama:
“No More Pennies Could Spark Higher Inflation.”
The idea? Businesses might start “rounding up” prices, nudging costs higher across the board. But when you dig into the data, that fear may be a bit overblown. Nearly70% of in-store paymentstoday are made usingcredit or debit cards, with even more handled throughdigital wallets. Cash—and coins—are already becoming an afterthought in most transactions.
And you’ve probably noticed it yourself—cash is quickly becoming optional. Many stadiums, airports, and retailers now operate ascashless venues, accepting only cards or digital wallets. No coins. No change. No need for pennies.
Still, there is one figure who might take this personally:Abraham Lincoln. With the penny’s retirement, he’ll no longer be featured on both a billanda coin. That elite club now includes justtwo presidents.
So while it may be the end of an era for the penny, it's also a reflection of where money—and technology—are headed next.
Sources:
CNBC.com, May 22, 2025. “Get ready to round up: Treasury set to halt penny production”
Finance.Yahoo.com, March 29, 2025. “10 of the Most Valuable Pennies”
USMint.gov, 2025. “Coins - Penny”
Capitaloneshopping.com, May 27, 2025. “Cash vs Credit Card Spending Statistics”
MLB.com, 2025. “Information Guides”