<ul><li>The U.S. Treasury Department has placed its final order for penny blanks, signaling the end of penny production after the current inventory runs out.</li><li>Production costs for pennies have been increasing, with it costing 3.7 cents to make a single penny in fiscal year 2024.</li><li>With only 16% of consumer payments in 2023 being made with cash, the demand for low-denomination coins like the penny has decreased.</li><li>The penny has been a part of American currency since 1792, but its exit is seen as a relief due to production costs exceeding the coin's value, with potential changes to coinage policies in the future.</li></ul>

Why You Won’t Be Seeing Many New Pennies After This Year

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