The U.S. Treasury Department has announced that it will stop producing pennies starting in early 2026, following an order from President Donald Trump in February 2025 to cease production as a cost-saving measure. Pennies still remain legal tender and will continue to circulate until they naturally phase out, but no new pennies will be minted beyond the current inventory of blanks. The production cost of pennies (about 3.7 cents each) exceeds their face value, leading to significant losses for the U.S. Mint. The final batch of pennies has already been ordered, and the phase-out will lead to rounding cash transactions to the nearest nickel. Existing pennies will continue to be accepted by retailers and banks for some time to come.