Common cents

Making change without the penny

It’s official. The penny has passed. While there will still be plenty of the copper cent pieces lingering as legal tender for many years, the last Lincoln penny for general circulation was struck at the U.S. Mint in Philadelphia on November 12, 2025. The event marked the end of the penny’s 232-year production run as a circulating coin.

“Today the Mint celebrates 232 years of penny manufacturing,” said Kristie McNally, Acting Mint Director, in the official press release for the occasion. “While general production concludes today, the penny’s legacy lives on. As its usage in commerce continues to evolve, its significance in America’s story will endure.”

There will still be special editions of the penny produced in limited quantities at the San Francisco Mint for collector proof sets. And no need to worry that the coin will completely disappear from the change drawer anytime soon. The mint estimates that there are still more than three billion in circulation.

In the end, the decision to discontinue the coin came down to dollars and cents. Over the last decade, the cost of producing the beloved coin increased from 1.42 cents to 3.69 cents per penny. Based on recent estimates, the Mint expects to save approximately $56 million per year in production savings. In fiscal year 2024, the penny accounted for 57% of the Mint’s total circulating coin production of 5.61 billion coins.

Lincoln was the first president to appear on a coin, and the penny bearing his likeness was first manufactured to honor him on his 100th birthday in 1909.

While the first pennies were indeed made of copper, their composition has changed over the years. In 1857, the Mint added nickel to the copper but switched to tin and zinc in 1864. In 1943, zinc-coated steel was utilized for pennies because copper was essential to the war effort during World War II. In 1962, tin was eliminated.

Since 1982, the penny has consisted of 2.5% copper and 97.5% zinc. The zinc planchet, or blank, is covered with a thin coat of copper, then struck to impress the design elements. Interestingly, that zinc planchet is manufactured in Greeneville, Tennessee, by Artazn LLC, as a subsidiary of One Rock Capital in Tusculum, Tennessee.

While online speculators are offering rolls and boxes of pennies as potential profitable investments, coin experts urge caution. With billions of pennies out there, it’s unlikely any common cents will be wildly valuable. The exceptions will be those coins that stand out as errors, double-stamped, or limited-edition versions. There’s nothing wrong with collecting them for pleasure, they say, but not so much to get rich.

Story by Glen Liford,

Contact gliford@ourcoop.com