Core Points - The production of the one-cent coin in the United States has officially ended after 230 years, with the last coin minted in Philadelphia on the 12th [1] - The one-cent coin, primarily made of zinc and copper-plated, features the image of former President Abraham Lincoln [1] - The U.S. Treasury Department estimates that stopping the production of the one-cent coin will save approximately $56 million annually [1] Financial Implications - The cost to produce a one-cent coin has risen to 3.69 cents, significantly higher than the 1.42 cents a decade ago, making its production economically unfeasible [1] - There are an estimated 300 billion one-cent coins currently in circulation, which exceeds the commercial demand [1] Policy Changes - In February, former President Trump ordered the Treasury Department to cease the issuance of new one-cent coins due to high production costs [1]