Penny Production To End By U.S. Mint

Above, a collection of "wheat" Lincoln cents. Photo by Armand Vaquer.

The lowly Lincoln cent (or penny) is poised to be discontinued by the U.S. Mint.

It has long been said that each penny costs more to make than its face value. People have found it to be more a nuisance than an asset. 

The end of minting the Lincoln cent is the topic of an article in The Hill. 

It begins with:

(NEXSTAR) — The U.S. appears poised to ditch the penny, with recent reports saying the U.S. Treasury made its final order of penny blanks in May. With no new blanks on the way, the U.S. Mint is reportedly producing the last new pennies the country may ever see. 

You may feel inclined to rush out and purchase a few rolls of one-cent coins and stash them away, either to use to cover oddly-priced purchases or for a potential payout from collectors. 

Generally speaking, you may not have to do either. 

While a wind-down plan for the use of the penny hasn’t officially been released, it may be similar to the process followed in Canada, which parted ways with its penny in the early 2010s for the same reasons U.S. officials have expressed. 

I have a tin cookie can full of pennies, so I won't be doing any buying. 

To read more, go here.