<ul><li>The U.S. Treasury has confirmed that production of the penny will cease early next year due to mounting costs and waning demand.</li><li>The penny has a long history in American commerce, starting with the 'Fugio' cent in 1787 and later evolving into the iconic Lincoln cent in 1909.</li><li>The decision to phase out the penny is driven by economic factors, as it cost nearly 3.7 cents to produce a single penny in 2024, resulting in annual losses for the U.S. Mint.</li><li>The penny's cultural impact includes its use in pricing strategies, charitable giving, symbolizing thrift, numismatic allure, and everyday utility for lower-income Americans.</li></ul>

Farewell to the Penny — A Tiny Coin’s Outsized Legacy

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