The End of an Era: Philadelphia's Last Penny Press

The Philadelphia U. S. Mint is about to make history by producing its final circulating penny. This decision comes after President Trump signed off on ending the 1-cent coin due to rising production costs. Making a penny now costs nearly 4 cents, which doesn't make sense economically. Pennies have been made in Philadelphia since 1793, shortly after the Coinage Act was passed. Today, there are billions of them out there, but they're not really needed for everyday transactions anymore. The digital age has made them almost obsolete. Some people feel a strong connection to pennies, seeing them as lucky or fun to collect. But the sudden phase-out has left some retailers scrambling. They've had to come up with creative ways to handle customer transactions, like rounding prices down or offering prizes for piles of pennies. The National Association of Convenience Stores has been pushing to get rid of the penny for 30 years, but they're not happy with how it's being done. They say the government should have provided more guidance. Banks have started rationing pennies, which is kind of ironic since many people think there are too many of them already. Over the years, about half of the coins made at the Philadelphia and Denver mints have been pennies. The Treasury Department expects to save $56 million per year by stopping penny production. But interestingly, nickels and quarters cost even more to make than pennies do. Back in the day, a penny could buy you a biscuit or a piece of candy. Now, they mostly end up in drawers or jars, collected as keepsakes. Collectors and historians value them as a record of society, reflecting our politics, religion, art, and ideals.