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The US Mint has placed its final order for penny blanks, effectively ending penny production once the existing supply is depleted. This decision, confirmed by a Treasury official, is expected to save $56 million annually in material costs. President Trump previously ordered the cessation of penny production, citing excessive production costs (nearly 4 cents per penny). While the penny's high production cost and limited utility are arguments for its elimination, proponents highlight its use in charity and lower production cost relative to the nickel. Congressional action could make the end of the penny permanent, with bipartisan bills currently under consideration.

Prepared by Christopher Adams and reviewed by editorial team.