US ends penny-making run after more than 230 years

The US ends penny-making after 230 years in production, as the cost to produce a penny now exceeds its value. The final batch of pennies was minted in Philadelphia, but existing coins will remain in circulation. With electronic transactions on the rise, businesses are adjusting prices accordingly. This move is expected to save the US government millions each year, following the lead of other countries like Canada, Australia, and New Zealand, which have also phased out their lowest denomination coins.