The U.S. Treasury will cease production of pennies

According to PANews, the U.S. Department of the Treasury has announced the cessation of penny production. The U.S. Mint has placed its final order for blank pennies, and once they run out, no further production will take place.

The Department of the Treasury highlighted that there are currently approximately 114 billion pennies in circulation in the United States, with a total value of 11.4 billion dollars. However, the use of these coins has fallen significantly below expectations. The penny was one of the first coins minted by the U.S. Mint after its establishment in 1792.