The U.S. Mint has made its final order of penny blanks and plans to stop producing the coin when those run out.
That word comes from a Treasury Department official who wasn’t authorized to discuss the matter publicly and spoke on condition of anonymity to preview the news.
An immediate annual savings of $56 million in reduced material costs is expected by stopping penny production, according to the official.
In February, President Donald Trump announced that he had ordered his administration to cease production of the 1-cent coin.
