It’s official, the Denver Mint will stop making pennies

A generation or two from now will likely put the penny in the same category as cassette tapes and Blockbuster stores…the “I have no idea what that is” category.

Back in February, President Donald Trump said, “For far too long the United States has minted pennies, which literally cost us more than two cents. This is so wasteful! I have instructed my Secretary of the US Treasury to stop producing new pennies.”

Now, the Treasury Department just confirmed that it’s doing away with the penny, according to the “Wall Street Journal.” When the last blanks run out, no more one-cent coins will be produced.

The good news for the 163-year-old Denver Mint is that the penny isn’t all they make, so they’ll still be needed. The Mint can make up to 50 million coins a day, about a third of them are pennies, but the dimes and quarters are a much better investment anyway.

There are about 114 billion pennies currently in circulation in the United States, so even after they stop making them, you won’t stop seeing them for a very long time!