are they getting rid of the penny

The U.S. Treasury Department has decided to stop minting pennies, with the production of new pennies set to end in early 2026 once the current supply of penny blanks is used up. This move was initiated by President Donald Trump, who called the penny production wasteful and costly, as each penny costs nearly four cents to produce. Although the U.S. will cease producing pennies, the existing coins will remain legal tender and in circulation. Prices in cash transactions will likely be rounded to the nearest nickel due to the absence of pennies. This phase-out aims to save the government around $56 million annually in production costs.