U.S. Ends Penny Production After 230 Years to Cut Costs

The U.S. Mint is striking its final batch of pennies after more than 230 years in production. Officials say the move will save about $56 million a year, as each penny now costs nearly four cents to make. President Trump called it a way to “rip the waste out of our great nation’s budget, even if it’s a penny at a time.” The coins will stay in circulation, but businesses are already adjusting prices as the penny fades into history.