The penny will soon be no more! In May of 2025 the U.S. Treasury authorized a plan to stop producing one-cent coins at the end of the calendar year. This means that in the year 2026 and beyond the U.S. Mint will no longer produce everyones favorite little coin known unofficially as the penny. The penny as we call it in the United States first came into existence in 1793 and has been a staple of our coinage ever since. Over the years the design has changed significantly from when it was first conceived but it has been one of the most popular coins the U.S. Mint has ever produced. Unfortunately over the years it has become quite costly to produce the coin. Current production costs show the U.S. Mint spends close to $192 million a year to produce the one-cent piece and it costs roughly three to four cents to produce a single cent! However if that number seems alarming note that current data provided from the U.S. Mint also shows that each nickel produced costs about eleven to twelve cents each to produce and there are no plans at present time to stop production of the five-cent piece. Amazingly still there are currently close to 114 billion pennies in circulation with an estimated value of (simple math here) $1.14 billion! The U.S. Mint has stated that there are no plans to remove the current number of pennies from circulation and more than likely the penny will still be seen in cash registers and pockets everywhere for a decade or more after production is halted. Critics have long argued that halting production of the penny will result in modest levels of inflation affecting lower income consumers the most who typically pay for their purchases with cash. Most retail stores will eventually round up to the next nearest monetary increment as a result. This however most likely would not affect consumers paying by check or electronic payment. As a result it has been argued the inflationary effects of eliminating the penny are overstated. Still as a coin collector some of my most favorite coin series produced by the U.S. Mint over the last few centuries are of discontinued denominations. I take pride in owning high grade semi-key date examples of the half cent the two-cent piece the twenty-cent piece and the coveted three-dollar gold coin which were all great coins that are no longer produced today. If you study numismatics some of the most incredible pieces of the history of our great coinage are no longer produced today making some examples sought after and highly collectible. But where does this leave the modern-day penny? Up until 1982 the penny was produced of 95 percent copper. This means that pre-1982 pennies are actually worth more than their face value simply due to the amount of copper contained in each coin. Pennies that were produced in 1982 and later are mostly zinc with a small amount of copper plating. There has always been a modest number of coin enthusiasts who have been saving pre-1982 pennies as a result. That said it should be noted that it is illegal per U.S. law to melt down pennies and sell them for their copper content. Fines and penalties can be steep if you get caught doing this. Whether or not the law changes as a result of the penny finally being discontinued is anyones guess; however due to the amount of work involved it would probably not be a worthwhile endeavor for most assuming the law is eventually changed or repealed. It should also be noted that some pennies in circulation do have some collector value. The 1955 double die Lincoln cent is a perfect example of a coin that can be valued in the thousands of dollars and still found in circulation. Given the fact that the internet and coin collecting circles are abuzz about the discontinuation of the penny I expect pre-1982 copper examples to be hoarded the most and disappear from circulation rather quickly. That said there are still stories of lucky coin enthusiasts finding silver coins in circulation. Prior to 1965 dimes quarters half dollars and even some nickels contained a high level of silver content before being replaced with lower cost metals like zinc. Obviously these coins have a high monetary value just due to the fact that some of these coins are composed of close to 90 percent pure silver. During the pandemic my local bank had gotten two rolls of quarters that had been carefully brought in by an older person. I was lucky enough to ask if I could purchase them at face value. Lo and behold both rolls contained pre-1965 silver coins. This is common among older people who have been saving coins for many decades and are not aware that these coins have monetary value worth above their face value. Still lets be realistic here. The penny will never have the same collecting appeal due to its metal content as silver and gold coins. Copper is a much cheaper metal than that of both silver and gold. However if there is value there will be a market. In conclusion I am torn on the decision to discontinue the penny. The penny for me is a nostalgic coin that has been a mainstay in my piggy bank since my earliest years. It will definitely be sad to see it go but as I have always said the only constant in the antiques and collectibles trade is change and this is one change that is overdue. Maybe getting rid of the penny does make good cents? Time will tell. Shawn Surmick has been an avid collector since the age of 12. He currently resides in his hometown of Boyertown Pa. and is a passionate collector of antiques and collectibles. His articles focus on various topics affecting the marketplace.