It has been over a dozen years since then-President Barack Obama called for eliminating the penny, citing the coin's high production cost as well as its falling use by consumers.

While Obama was ultimately unable to abolish the penny, President Donald Trump struck a deal to do just that.  

Final penny produced on Wednesday

According to the Associated Press, America's last penny was produced at the U.S. Mint in Philadelphia on Wednesday under the supervision of Treasurer Brandon Beach.

"God bless America, and we’re going to save the taxpayers $56 million," Beach told journalists as the last 1-cent coin came into existence. It and other pennies from the final batch will be auctioned off to collectors.

The United States Mint's official website explains that each penny costs 3.69 cents to produce, up from 1.42 cents a decade ago.

The website assures those Americans who continue to hold pennies that they remain legal tender and can still be used for commercial transactions.

Trump called for the penny's elimination in February

The coins, which first made their debut in 1792, are still protected under 31 C.F.R. § 82.2(f), meaning they cannot be destroyed or defaced.

What's more, while the United States Mint will no longer produce pennies on a regular basis, it does plan to release commemorative versions of the coin on a very limited basis.

The Daily Caller pointed out that Trump demanded the penny's demise in a post to his Truth Social platform this past February.

🚨 The U.S. Mint STOPPED making pennies today, saying the coin costs more to produce than it’s worth.

The last ones rolled off the line in Philadelphia — where pennies have been minted since 1793. pic.twitter.com/sVZVa97Cbb

— Daily Caller (@DailyCaller) November 12, 2025

"For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful!" the president wrote.

Previous attempts at ditching the penny failed

"I have instructed my Secretary of the US Treasury to stop producing new pennies. Let's rip the waste out of our great nations budget, even if it's a penny at a time," he went on to add.

The Daily Caller noted that this is far from being the first attempt to get rid of the penny, as Louisiana Democratic Rep. James A. Hayes unsuccessfully proposed a bill aimed at doing so back in 1989.