PHILADELPHIA — After more than two centuries in pockets, piggy banks, and change jars, the United States has stopped making pennies, according to the Associated Press.
Many stores in the Ohio Valley, including Gabe’s in St. Clairsville, had already stopped accepting pennies for purchase ahead of the coin’s being discontinued.
Production of the 1-cent coin officially ended Wednesday at the U.S. Mint in Philadelphia, marking the end of a small but iconic piece of American currency.
When the penny debuted in 1793, it had real buying power — enough for a biscuit, a candle, or a piece of candy. Today, it costs nearly four cents to make each one, and most end up collecting dust instead of being spent.
“God bless America, and we’re going to save the taxpayers $56 million,” said U.S. Treasurer Brandon Beach as he pressed the button to strike the final penny. The last few coins were displayed for journalists and will later be auctioned off to collectors.
Billions of pennies already in circulation will remain legal tender, but no new ones will be produced.
The last time the U.S. discontinued a coin was in 1857, when the half-cent was retired, Beach said.
