The U.S. Treasury is phasing out production of the penny and will soon stop putting new one-cent coins into circulation, the ...

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The U.S. government is phasing out production of the penny, which has been in circulation for centuries, in a cost-cutting move that is projected to save $56 million each year. The Treasury made ...

Ending production of the penny will save the Mint about $56 million in annual savings, the Treasury said on Thursday. Despite their coppery look, pennies are mostly made of zinc, with their ...

While there will still be over a billion already existing pennies in circulation, no new cents will join their ranks for the ...