Philadelphia Marks End of an Era: The Final Penny Minted Today

The American penny officially ended its run on Wednesday after a lengthy period of decline, reaching the age of 238 years. The final penny was minted at the U.S. Mint in Philadelphia under the supervision of U.S. Treasurer Brandon Beach. Back in February, President Donald Trump used social media to announce the cessation of this iconic coin, attributing the decision to its production costs, which exceed its face value. Once cherished for activities like purchasing penny candy and depositing in parking meters, pennies now languish in drawers or jars. The coins will be auctioned, with the last produced for circulation minted in June. Despite its termination, the penny remains a legal tender. However, its discontinuation has introduced unforeseen challenges for retailers, potentially leading to legal issues regarding price rounding. Retail groups have called for legislative solutions to address the complexities created by this coin's demise.

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