Why Phasing Out the Penny in 2026 Makes Cents (and Saves Dollars)

an image of pennies poured out from a jar.

The U.S. Treasury is set to retire the penny by early 2026. Minting each coin now costs roughly 3.7 cents, and in 2024 alone the Mint lost about $85 million producing some three billion pennies. By ending production of these low-value coins, taxpayers could see immediate savings of around $56 million a year. It’s a […]