WASHINGTON (TNND) — The United States Treasury minted
its final production of pennies on Wednesday at the U.S. Mint
in Philadelphia, Pennsylvania (above).

"The penny was first authorized by the Coinage Act of 1792;
however, ongoing increases in production costs and the
evolution in consumer habits and technology have made its
production financially untenable," according to a statement
from the U.S. Department of the Treasury.

The last two pennies minted were stamped with a special
omega and will not be circulated. Instead, the government
intends to auction the pennies off.

In February, President Donald Trump publicly called to halt
penny production, citing the fact that pennies cost more
money than they are worth.

The half-cent coin was the last coin to be discontinued in
1857.