The U.S. Treasury Department has announced a plan to cease production of the one-cent coin, following bipartisan legislative efforts (S. 1525 and H.R. 3074) and a directive from President Trump, who called the coin’s production "wasteful." The department placed its final order for blank pennies from the United States Mint earlier this month, as first reported by The Wall Street Journal, and cent circulation is expected to end once those inventories are exhausted. Earlier this year, the Department of Government Efficiency (DOGE) also weighed in on the issue, posting on X about the high cost of penny production and citing data reported by CoinNews.
Each penny now costs 3.69 cents to produce – more than triple its face value and up 20.2% from 2023 alone – while the nickel costs even more at 9.63 cents apiece, according to the Mint’s fiscal year 2024 annual report. Combined, the two lowest denominations drained $103 million last year – $85.3 million for the penny and $17.7 million for the nickel. It marked the nineteenth consecutive year that the cost of producing both coins exceeded their face values. Ending penny production is projected to save tens of millions annually, though shared minting costs will shift to other denominations, raising their production expenses.
In calendar year 2024, the U.S. Mint produced approximately 3.23 billion pennies, representing about 57.5% of the year’s total coin output of 5.61 billion. An estimated 114 billion one-cent coins remain in circulation, though many see little active use. They will continue to be accepted as legal tender even after production ends. Over time, cash transactions are expected to round to the nearest nickel – a system already adopted by countries like Canada, which phased out its penny in 2012.
The U.S. Mint has been exploring more cost-effective ways to produce the five-cent coin and other denominations, focusing on alternative metal compositions and enhanced manufacturing methods. In its 2022 Biennial Report to Congress, the Mint identified an 80/20 cupronickel alloy – 80% copper and 20% nickel – as a viable alternative that could be implemented roughly one year after receiving congressional authorization. The proposed composition is intended to lower production costs while remaining compatible with existing coin-handling equipment.
Lincoln cents are composed of 2.5% copper, with the remainder in zinc. Five-cent coins contain 25% nickel, with the balance in copper. Dimes, quarters, and half dollars each consist of 8.33% nickel, with the rest in copper.
According to the Mint’s most recent annual report, as previously reported by CoinNews, the cost to produce and distribute the remaining coins was 5.76 cents for a dime, 14.68 cents for a quarter, and 33.97 cents for a half dollar.
First struck in 1793 and bearing Lincoln’s profile since 1909, the penny has long been a subject of debate. Critics argue that eliminating it will streamline cash transactions and reduce waste, while others express concern over rounding impacts and potential effects on charitable giving.
Thanks for the fresh article on a long weekend Mike.
The days of 100 to 200 posts on a single article are hopefully a thing of the past.
“In calendar year 2024, the U.S. Mint produced approximately 3.23 billion pennies”
I’m going to disagree with that number — 3.23B cents produced in 2024, unless I’m missing something? I see 1,515,200,000 cents(1515.2M)produced in 2024 ⇊ ??
Hi Rick,
The Mint’s public reporting for 2024 is currently inaccurate. The totals listed for the year at https://www.usmint.gov/about/production-sales-figures/circulating-coins-production are actually the same figures previously reported by the Mint for the seven-month period through July 2024.
If the information remains incorrect, I’ll contact Mint officials after their return from the holiday and let them know about the issue.
In the meantime, you can visit https://www.coinnews.net/category/coin-production-figures/ to view our articles covering the Mint’s actual monthly and annual production figures, with data spanning at least the past 15 years.
Thank you Mike, much appreciated.
Thanks for all your efforts Mike! Question if they will mint them for annual sets? Maybe real copper…..
Nope. It would be impracticable and misleading from both an accounting and overall numbers standpoint. I’ve privately toured each of the Mint’s four production facilities at least twice over the years. The preparation of blanks for numismatic coins follows a separate process and includes additional steps compared to circulating coins, as does their actual minting. Circulating coin production is highly automated from start to finish—covering blanking, striking, counting, and bulk bagging for distribution in accordance with Federal Reserve orders. The Mint’s uncirculated and proof coins are created and packaged in entirely separate areas within the facilities—mostly unobservable on public tours—with… Read more »
Thanks for the inside information.
E1 said a couple threads back: “The 2024 Burnished ASE has a current mintage of 94,000 and is still available from the Mint with a “Product Limit” of “None.”“Collector interest appears to be waning in the Burnished ASE, but the low mintage numbers are once again enticing.“ East Coast Guru replied: “Agree. I was thinking the same thing due to the lower mintage limit. “ As it stands, we’re at 94,098 plus another 500, 40-coin trays, for a total of 114,098. The 2025 has a product limit of 90,000. What remains as an unknown fact, is if they will offer… Read more »
“ What remains as an unknown fact, is if they will offer the 2025 W ASE Unc. to the ABPP buyers in 40-coin trays.
Agree about the number crunching questions. Rich and I touched on that the other day. What say you Rich?
https://www.coinnews.net/2025/05/20/2025-w-uncirculated-american-silver-eagle-launches-at-91-with-90000-limit/#comment-559361
Below is the Bulk 40 inventory from the other day ⇊
And below is the Bulk 40 inventory from today ⇊
There is no doubt in my mind that the Bulk 40 trays are being sold.
Are the ABBP’s buying them? I think so.
Rick and Cali, thanks for championing the reporting on the Bulk 40 sales for the 2023 and 2024 Uncirculated Silver Eagles (which may eventually show up in the CoinNews’ U.S. Mint Sales Report -Uncirculated Silver Eagle table?), and for the latest information on the 2025 Unc ASE bulk 40 sales, pending their official reported sales by the Mint sometime soon.
I thought they stopped selling the bulk 40 coin trays for the Unc ASE W in 2022. At least that is what the production report says. Maybe they still do and it’s not reported.
The sales of the bulk 40 coin trays for the 2023 and 2024 Unc ASE are reported in the Mint’s Numismatic Products: Cumulative Sales Figures.
My 2025 W ASE arrived in the mail today. I would think the sales numbers published by the Mint are subscription and ABPP purchases to date.
Also recieved by two roll Kennedy Half Dollars. We’ll see how those numbers turn out, seeing the current design ends with this year, as I understand it.
I should clarify the 2025 W ASE I’m referring to is the uncirculated/burnished coin.
well about time, I really don’t think there’s going to be a lot of pushback on this issue except from the zinc industry and a few die-hard nostalgia folks, though whitman might be upset they won’t be able to publish updated cent collector albums each year (unless, perhaps the mint decides to keep the cent in proof/uncirculated sets) unfortunately, just issuing a treasury statement saying to merchants and banks to “round off” without backing legislation might result in some legal action as soon as some bored attorney gets short-changed by a couple cents somewhere. also, as it is unlikely most… Read more »
The simplest way to handle this issue is to sell items INCLUDING TAX. That’s what I’ve done for the last 26 years. The quarter is our lowest denomination. No pennies, no nickels, no dimes, no problems.
There would likely be a short-term inflationary hit, but I think people and businesses would adjust. Then, banks and taxing authorities would be the only ones dealing with 1/100 of a dollar.
Now I’m reading on CNN (for what it’s worth) that cent production won’t cease until early next year. Cents may still be minted for collectors. Remember the 1981 Susan B. Anthony dollar?
Antonio, Yes, I remember. After an 18-year hiatus, the SBA 1$ returned in 1999 for one year in PD&P Proof. The 1981-S Proof Type 2 SBA was the money coin. The 1981-S T2 was actually very difficult in PR-69 DCAM. I had a lot of PR68 DCAMs and a lot of PR-69 Cameos. Centering and Weak Frost was a problem. There are a small number of PR-70 DCAMs out there today, but they are big $$$. There was not much to collect back in the early 80s. The Type 2s were all the rage then and now asleep. I think… Read more »
E 1,
I agree with you. I bought all three of the 1999 SBA dollars. Haven’t had them graded yet. I remember they were called Carter quarters and the signs, No SBA Dollars. I liked the Eisenhower dollars and was sad to see them discontinued in 1979. Yes, time sure flies. The new generation will soon age and maybe they’ll discover coin collecting to rediscover their youth.
“I liked the Eisenhower dollars and was sad to see them discontinued in 1979.”
Same here.
To those who understand it, love it, respect it, or deserve it – Have a most pleasant and peaceful Memorial Day!
Beautiful!!! Thanks.
“ Have a most pleasant and peaceful Memorial Day!”
Back at you E1…
Cali – “The 250th Anniversary United States Army American Eagle One Ounce Silver Proof Coin will have a mintage limit of 100,000.”
REB – “I have a sinking feeling that I might die in the waiting room with this one.”
So I took a look to see what all the fuss was about guys, and one word stood out to me.
Without the need to repeat myself here – you can see what I had to say to VanHalen over at the CU Forum on this subject…
https://forums.collectors.com/discussion/comment/13915420/#Comment_13915420
I have been posting on the internet since late 2013. For over 11+ years, I have advised selling Silver and buying Gold. Over nine of those years, Gold (GLD) has outperformed Silver (SLV) based on average yearly prices. (Average pricing for GLD for 2014 = $121.85; Average pricing for SLV for 2014 = $18.30) Shorting SLV for $100,000 in 2014 and going long on GLD would yield a profit of $87,812.55 based on 2025 average pricing. Shorting SLV for $100,000 in 2015 and going long on GLD would yield a profit of $75,542.04 based on 2025 average pricing. Shorting SLV… Read more »
The gremlins will not let me post a completion of my above post in the same format so this is the same results as my post above….
2019 a profit of $34,922.63 based on 2025 average pricing.
2020 a profit of $26,943.74 based on 2025 average pricing.
2021 a profit of $53,268.44 based on 2025 average pricing.
2022 a profit of $32,830.40 based on 2025 average pricing.
2023 a profit of $29,762.31 based on 2025 average pricing.
2024 a profit of $22.208.80 based on 2025 average pricing.
If you had invested $100,000.00 in GLD for the following years (basically what I have been doing) at the Average pricing for those years and sold at Friday’s closing price of $309.75 you would have made a profit of:
2014 = $154,205.99
2015 = $178,677.46
2016 = $159,509.05
2017 = $158,750.31
2018 = $157,738.39
2019 = $135,515.51
2020 = $85,868.59
2021 = $84,035.41
2022 = $84,473.83
2023 = $71,654.20
2024 = $40,094.98
In 2011, I had heard about something new called Bitcoin. I had $1000 that I was going to put into it, chickened out, and bought a First Spouse Gold coin instead.
…….
Rick,
Wouda, Couda and Shouda…
Wow, Rick! Good eye, regarding the June 13th PRE SALE for the “250th Anniversary United States Army Privy American Eagle One Ounce Silver Proof”. EBay now has Pre sales listings for $349-$499 on NGC/PCGS PF70 slabs. Reb,, these will definitely be challenging to say the least, regarding procurement on Pre Sale drop day, directly from the Mint. A HHL of 3 will be implemented. Rick, did you read somewhere or have any additional information that’s concrete about these, “not”’ being offered up to the AP/ABPP peeps? I just have a hard time believing that the U.S. Mint, now cares about… Read more »
Ugh. I think you’re spot on, Cali. This is when being a slave to my proof collection becomes an ordeal. Guess I’d better warm up that eBay biddin’/buyin’ finger.
Ladies and gentlemen, welcome to the Main Event… Let’s get ready to rumble – Space Jam
Cag, If you were going to short silver, I’d advise you to have one eye on the quote screen at all times. When silver makes a move, it’s almost always mega volatile. The only time I’d be comfortable shorting silver would be after it’s made 3 consecutive higher highs while the RSI was weaker on each high (chart divergences). And I’d be using put options rather than having $100,000 on the line! My personal belief is that only a fool would short silver (except maybe day traders). In case you missed it, I gave you a big shout out on… Read more »
Dave, maybe I misunderstood, but I thought cag was saying US Mint gold is to cheap.
Well, that,too! Which I totally disagree with. But he’s also been a believer that gold was underpriced – and his investments prove it.
Cali @2025 Army ASE Proof Presale, “ Rick, did you read somewhere or have any additional information that’s concrete about these, “not”’ being offered up to the AP/ABPP peeps?” My belief that the Mint will sell to the public only and not to the AP’s is pure speculation. It’s a guess, and I stand by it at this time. When looking at that fancy “usm.gov/on/demandware” page that displays info on their products via the USM “Item Number”, it tells me that there is a dedicated page for the Army Proof(25APM). Yet no page exists for the bulk 40 trays for the… Read more »
I took a look at three other coin products approved for bulksters to order, and they have a dedicated bulk page to order the bulk 40 trays. The three bulk pages I checked were:
1) 2023-W Proof ASE bulk 40(23EM040)
2) 2024-W Proof ASE bulk 40(24EA040)
3) 2025-W Proof ASE bulk 40(25EA040)
Again, there is no bulk 40 page for the 2025-W Proof ASE Army coin.
Since the mintage limit is maxed at 100k, it makes sense that it is being treated as a “special limited” 250th release coin.
Rick, were there bulk pages set up for the Flowing Hair(ABPP) and Britannia products? I could be mistaken, however there are products the Mint sells or has sold previously, that aren’t sold in a 40-coin bulk format I’m thinking? Maybe? In the past for example, they sold America the Beautiful Silver Proof Quarter sets and America the Beautiful 5oz Uncirculated Coins, which likely weren’t sold in 40-coin trays? I’d think not every product they offer up to the ABPP are sans packaging and sold neatly in groups of 40. Perhaps some are just sold in typical packaging and groups of… Read more »
Whew! No bulksters. Now I only have to contend with bots, flippers, scammers, and maybe even a couple of collectors. I’m now reassured that June 13 isn’t going to be a cluster parade in the waiting room … NOT!
“Bulk Purchase Programs” Rick, Reb, others, I’m fairly sure that the U.S. Mints annual proof W, S, and W uncirculated coins are offered to the “bulk purchase program” in two separate formats. One(40-coin trays) gets a “special” line item number and the other one(regular stock OGP) does not. The Numismatic Bulk Purchase Program(NBPP) product offering, such as the 40-coin trays are given a “special” line item number, discounted and those are able to be bought by either the NBPP or Authorized Bulk Purchase Program(ABPP) members. Then the U.S. Mint also offers additional products, that are in original government packaging(OGP), not… Read more »
Yep, I can’t argue with that Cali, not one bit. My logic was based on the lack of the “040” bulk page for the Army ASE’s. Perhaps there’s a way for one or the other AB/NB’s to get some of those OGP’s, or another packaging scheme that includes them? For example the page that I had posted previously showing the ’25 Unc-W ASE report to the tune of 61k OGP coins sold before drop day. There’s an update out for those coins today– looks like an OGP Product Limit(90k) will sell out soon?
PS: Thanks for the detailed ‘essay’ haha…
There are less than 18,000 of those OGP’s left.
And just 67 bulk 40 trays left(2680 coins).
I hope the mint doesn’t strike anymore, since it appears to have struck around 105,000 coins so far?
Rick, I’m with you on keeping the mintage below 105,000 coins and was relieved to see the bulk 40 sales were not more than 308 for 25EG040.
The 2025-W Unc ASE looks like it could be the third lowest mintage of the Uncirculated Silver Eagle series. Here is how the top-5 lowest mintage issues stack up (source: US Mint Sales Figures, valid 5/26/2025 and @Rick above):
2008-W Reverse of 2007 = 46,318
2011-S = 99,882
2025-W ~ 105,000*
2024-W = 114,146*
2018-W = 138,947
*: sales not final
My apology for any confusion caused by the list of the top-5 lowest mintage Uncirculated Silver Eagles I posted above. The sales figure given for the 2025-W ~ 105,000 is an upper estimate of the possible final sales based on the product limits and available data at this time, kindly provided by Rick. US Mint sales data through 5/25/2025 (report valid 5/26/2025) for the 2025-W Unc ASE is 83,941 coins (25EG = 71,621 and 25EG040 = 308). Revised list of the top-5 lowest mintage Uncirculated Silver Eagles as of 5/25/2025: 2008-W Reverse of 2007 = 46,318 2025-W = 83,941*^ 2011-S… Read more »
You’re welcome Rick and thank you for the laugh! Looks like there are about 18,000 25EG products left and there could(?) be as many as 192 of those 40-coin trays left for purchase? The Mint sold 500 of them last year. If the numbers are close to what I’ve outlined, there is in the neighborhood of roughly 25,500 total UNC ASE coins left before we move to unavailable. I think we will see a drop off in sales and we could still be possibly 6-12 months away from the inventory being exhausted? After all, we still have competition for the… Read more »
Do we know if the Laser Beam Privy is proof or not?
Actually Reb, we do not know whether the coin will be PF, Unc, RP, EPF, EU, ERP, or even colorized for that matter? My mind for some reason, envisioned I’d seen the word Proof in the coins title? Nope! Somewhat ironic, it’s just titled: “American Eagle 2025 One Ounce Silver Coin – Laser Beam Privy Mark”. Ironic, in that, in every instance I can recall, the American Eagles always have included the given coins finish within the title or naming of the coins placeholder spot on the webpage? Perhaps it will be a “Modified Reverse Proof Finish” with “Mini Privy… Read more »
I like that Maple Leaf!
@REB, I have not heard anything, but the product code 25EALE has the same 25EA root as the 2025-W ASE Proof. I don’t know if it a clue or a red herring.
I’d guess proof but it’s weird that the Mint wouldn’t say. It’s kind of like the “burnished”/”business strike”/”proof-like” gold eagle that they released several years ago.
There are BILLIONS of pennies and nickels in jars around the country. The public should be urged to release them back into circulation.
I am not upset the penny is gone but they never tell you what a $100 bill costs. I think it’s like 5 or 10 cents. So, 4 cents for a penny who cares? They are making up for it with paper money. They need to cut to the chase and kill all but the quarter. What can you buy for 25 cents? 2 pieces of bubble gum? I’ve been collecting coins for 40+ years and just realized collecting modern coins is a waste of money. Unless it is pure silver or gold. So, my 2 cents…Buy only the old… Read more »
Jodyman, actually they do tell the cost to produce each denomination of currency. According to the Board of Governors of the Federal Reserve System, from their FAQ’s, Currency and Coin information page, in an article titled: “How much does it cost to produce currency and coin?”, the range is $.032-$.094 cents each. Here’s a link(below), with a chart breaking down the associated costs per each note. PS You write, “I’ve been collecting coins for 40+ years and just realized collecting modern coins is a waste of money.” That’s why it’s called or most participate in numismatics as a hobby, vs… Read more »
The American Eagle 2025 One Ounce Gold Uncirculated Coin goes on sale Thursday, June 5. W/E May 26, 2025, sales report shows a total of 115 coins sold.
Another Gold offering where the Big Boys have very limited participation…