💱 The Penny Is Going Away. Could the Nickel Coin Be Next? (AARP Article)
The Treasury Department is kissing the penny goodbye. The five-cent coin might follow suit.
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The U.S. Treasury Department recently ordered its last round of penny blanks -- flat metal discs that get turned into coins -- and said it will not put any more pennies into circulation after that batch is made.
Why kill the penny? Because pennies cost a lot of money to make and distribute -- 3.69 cents per coin, to be exact. And the U.S. issued more than 3.2 billion pennies during the 2024 fiscal year, according to the U.S. Mint, at a reported loss of around $85.3 million.