The last US penny, which is valued at $0.01, costs about 3.7 times its face value to mint, as inflation erodes the value of fiat currency.
The last penny, nominally valued at $0.01, was minted by the United States Mint in Philadelphia, Pennsylvania, on Wednesday, marking the end of 232 years of new pennies being coined and circulated.
US President Donald Trump directed the US Treasury to stop producing pennies in February, and the Treasury initially set a 2026 target for the last mint. However, the Treasury exhausted the templates used to manufacture the coins between June and September, according to Axios.
A penny costs about 3.7 times its face value to manufacture, meaning that each $0.01 coin actually costs over $0.03.
