Core Points - The U.S. Mint has officially ceased the production of the one-cent coin after 232 years, marking the end of its circulation due to rising production costs and declining relevance [1][2] - The decision is expected to save taxpayers approximately $56 million, as the cost to produce a one-cent coin has increased significantly, reaching 3.69 cents per coin in 2024, nearly four times its face value [1] - Approximately 300 billion one-cent coins are still in circulation, and they will remain legal tender indefinitely [1] Industry Reactions - Some retailers have expressed concerns about the implications of the one-cent coin's discontinuation, with the National Association of Convenience Stores advocating for its elimination for 30 years but not in this manner [2] - Collectors and historians emphasize the historical significance of the one-cent coin, which was first introduced in 1793 and has cultural value as it once could purchase basic items like a cookie or a candle [2]

Core Points - The U.S. Mint has announced the cessation of the production of the one-cent coin, marking the end of its regular production after 232 years [1] - The decision to stop minting the one-cent coin is primarily due to the high production costs, which have risen significantly over the past decade [1][2] - The U.S. Mint reported a loss of $85.3 million in the fiscal year 2024 due to the production of the one-cent coin [2] Reasons for Cessation - The production cost of a one-cent coin has increased from 1.42 cents to 3.69 cents over the past ten years, leading to substantial financial losses [1] - Other low-value coins are also facing similar issues, with the production costs of the five-cent coin nearing 14 cents, the ten-cent coin around 6 cents, the quarter at approximately 15 cents, and the half-dollar coin at about 34 cents, all exceeding their face values [2] Current Circulation of One-Cent Coins - Approximately 300 billion one-cent coins are currently in circulation, far exceeding commercial demand [3] - The Federal Reserve has already suspended orders for one-cent coins at 100 of its 181 distribution points, with more expected to follow [3] - The American Bankers Association has indicated that once the one-cent coins are depleted at distribution points, they will no longer accept deposits of these coins, hindering their circulation [3] Future of Low-Denomination Coins - Retailers are seeking guidance from the government on how to handle cash transactions without the one-cent coin, with some adjusting prices or encouraging customers to bring their own change [4] - A bill to establish a federal standard for rounding cash transactions to the nearest five cents has passed a committee but has not yet been voted on by the full House [4] - There are concerns that the ongoing inflation may lead to the gradual elimination of the five-cent coin in the future, which could complicate cash transactions [5]

Core Viewpoint - The U.S. Mint has announced the cessation of the production of the one-cent coin, which has been in circulation for 232 years, due to the high cost of production exceeding its face value [1][2]. Group 1: Reasons for Cessation - The production cost of the one-cent coin has risen significantly, from 1.42 cents to 3.69 cents over the past decade, leading to substantial financial losses for the U.S. Mint [1][2]. - The one-cent coin was originally introduced in 1793 and has become less useful in modern transactions, often being stored away rather than used [1]. Group 2: Current Circulation of One-Cent Coins - Approximately 300 billion one-cent coins are currently in circulation, far exceeding commercial demand, and they will remain legal tender despite the halt in production [3]. - The Federal Reserve has already suspended orders for one-cent coins at 100 of its 181 distribution points, with more expected to follow, complicating the circulation of existing coins [3]. Group 3: Impact on Other Low-Denomination Coins - The production of other low-denomination coins is also under scrutiny, with the five-cent coin costing nearly 14 cents to produce, and the ten-cent coin costing about 6 cents [2]. - Retailers are seeking legislative guidance on how to handle cash transactions without the one-cent coin, with proposals for rounding transactions to the nearest five cents being discussed [4][5]. Group 4: Legislative and Economic Implications - A bill to establish a national rounding standard has passed a committee but has not yet been voted on by the full House, facing delays due to lobbying and government shutdowns [5]. - The ongoing inflation in the U.S. may lead to further devaluation of low-denomination coins, including the potential gradual elimination of the five-cent coin [5].

Core Points - The U.S. Mint has officially ceased the production of the one-cent coin, marking the end of its 232-year circulation history [1][2] - The last one-cent coin was minted by U.S. Treasury Secretary Brandon Leitch during a ceremony at the Philadelphia Mint [1] - The production cost of the one-cent coin has increased significantly over the past decade, rising from 1.42 cents to 3.69 cents per coin, making its continued production unsustainable [1] Summary by Sections Production Cessation - The U.S. Mint announced the end of one-cent coin production due to rising costs and changing consumer behavior [1] - The one-cent coin was first authorized by the Coinage Act of 1792 and has played a significant role in American daily life [1] Legal Status and Future Plans - Despite the cessation of production, the one-cent coin remains legal tender in the U.S., with an estimated 300 billion coins still in circulation [2] - Retailers and businesses can continue to price items in one-cent increments [2] - The U.S. Mint plans to produce limited edition one-cent commemorative coins for historical research and collectors [2]

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]