After 232 years in circulation, the United States Mint has officially stopped producing the one-cent coin. On November 12, 2025, the final new penny was struck in Philadelphia, marking the end of an era for American currency. The decision, ordered by President Trump due to the penny's high production costs, has sparked a national debate that goes beyond simple economics, pitting practicality against deep-seated sentimentality.
Join us on this episode of Dirt Nap City as we explore the history and the future of the humble penny. It costs the U.S. government nearly four cents to produce each one-cent coin, an annual loss of approximately $56 million in taxpayer money. We break down the economic arguments for phasing out the coin and what this means for consumers and businesses. With over 300 billion pennies still in circulation, they remain legal tender and won't disappear overnight, but their days of facilitating exact change are numbered.
The move raises immediate questions: How will cash transactions be handled? Will businesses start rounding prices to the nearest nickel, and could this lead to a hidden "rounding tax" on consumers? We examine how countries like Canada and Australia successfully navigated this transition years ago and what lessons the U.S. can learn from their experience.
Don't miss this insightful conversation as we say a final farewell to the penny and look ahead to a coinless future.
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