In 2025, the U.S. Treasury announced it will stop producing new pennies as part of an effort to reduce unnecessary government spending. At nearly 4 cents per coin to produce and distribute, the penny has long cost more than its face value.
After more than 230 years, the U.S. Mint will officially cease penny production in 2026. While no new pennies will be made, existing ones will remain legal tender and can still be used for purchases. However, as pennies are lost or damaged, they won’t be replaced.
Given the large volume still in circulation, it will take many years for pennies to gradually fade from everyday use. Cash transactions will likely be rounded up or down to the nearest nickel, but pennies can still be used in the meantime.
What should you do with your pennies? Here are your options:
- Use them for purchases. Spend your pennies while stores still accept them.
- Take them to the bank. Many First United Bank & Trust locations offer coin machines to count and convert coins.
- Check for valuable copper pennies. Pennies made before 1982 contain 95% copper and might be worth more than face value.
- Keep some as keepsakes. Save a few pennies to remember this historic transition.
The banking industry encourages consumers and businesses to be mindful of coin usage and consider alternatives when possible. Banks continue to work in partnership with the Federal Reserve, Treasury and others to track coin circulation trends and support efforts to ensure a smooth transition.
For more information, the Federal Reserve and ABA have published FAQs to address consumer and business-related questions about the end of penny production:
Federal Reserve Financial Services: Frequently Asked Questions about Penny Deposits and Orders