The U.S. Treasury has confirmed it will cease penny production, following President Trump's directive. The final order of penny blanks has been made, and production will end when they run out. This decision comes as the cost of minting pennies has risen to nearly 4 cents each, leading to an expected annual savings of $56 million. With 114 billion pennies in circulation, the move reflects changing payment habits and ongoing debates about the coin's utility. While some advocate for its elimination, others argue it plays a role in charity and pricing. Congress may need to legislate the change, as past efforts to eliminate the penny have failed.