The penny, that little copper piece of history that’s been floating around since 1793, is finally saying its goodbyes. The US Treasury Department recently confirmed that they’ve placed their last order for penny blanks on May 22, 2025. This means that the iconic one-cent coin will soon be making its grand exit, with the final pennies expected to start circulating by early 2026. President Donald Trump, known for his no-nonsense approach, deemed the penny as a ‘waste of government resources’, which is kind of a big deal considering it costs almost four cents to make just one penny. That’s a loss of over £67.15 million GBP every year, yikes!
The White House is framing this whole penny elimination thing as part of a larger effort to cut down on government inefficiencies. And let’s be real, the penny hasn’t really been pulling its weight in a while. Sure, it has ol’ Abe Lincoln’s face on it since 1909, but when was the last time you actually used a penny to buy something? You can’t even use it in vending machines or parking meters these days. Most folks just chuck them into a jar and forget about them. And who can blame them? They’re more of a hassle than anything, taking up space in your wallet without adding any real value.
But here’s the kicker—the penny has been costing the government more money than it’s actually worth. Back in the day, they were made of copper, but now they’re mostly zinc to save on costs. Even with the cheaper materials, the rising costs of labor, manufacturing, and distribution still mean that every penny made is a financial flop. Other countries like Canada, Australia, and New Zealand saw this coming ages ago and got rid of their lowest-denomination coins. They switched to ‘Swedish rounding’, where cash transactions round to the nearest five cents, while digital payments keep it real and charge the exact amount.
Now, what does all this mean for you, the average Joe or Jane? Well, the penny will still be legal tender, so no need to panic and dump all your pennies on the sidewalk. You can still spend them, but they’ll slowly start disappearing from circulation as banks stop ordering them and stores adjust their systems. Businesses will start rounding off cash purchases, so that £3.61 ($4.57) might round down to £3.59 ($4.55), while £3.62 ($4.58) would round up to £3.63 ($4.60). It’s like playing a fun little game with your spare change!
The decision to kick the penny to the curb isn’t just about coins—it’s a political statement with some serious financial weight. The ‘Make Sense Not Cents’ Act, introduced in Congress, was all about cutting costs and bringing the system into the modern age. The Treasury is looking at saving around £44.24 million GBP per year, which could be put towards public services or paying off some national debt. The US Supreme Court gave the green light, so there’s no turning back now.
Not everyone is on board with this whole penny farewell tour, though. Some folks, especially the older crowd, see the penny as a piece of American history rather than just spare change. One penny even made its way to Mars as a calibration tool on NASA’s Curiosity rover—that’s one small step for a penny, one giant leap for pennykind. But times are changing, and a 2022 survey found that 58% of Americans were totally cool with saying goodbye to the penny once they realized how much it was costing taxpayers. The younger generation, all about that digital life, couldn’t care less about losing the penny.
So, while the penny may be heading towards extinction, it’s not like it’s going to disappear overnight. You’ll still be able to use them, but by mid-2026, they’ll be as rare as a unicorn sighting. Maybe they’ll become collector’s items, or maybe they’ll just be a reminder of simpler times. Either way, the penny has had its run, and it’s time to move on to bigger and better things.
