What to do with your pennies now that the U.S. Mint stopped making them

SPOKANE, Wash. — Your penny jar just became a piece of history. After more than two centuries, the U.S. Mint officially pressed its last penny on Wednesday, but before you rush to the bank to cash in rolls of Lincoln cents, here’s what you need to know about what to do with the copper coins cluttering your car console.

The bottom line: Spend them.

“Spend them, use them, trade them. We’re probably the last generation that will,” said Erika Wolter from Coins Plus in Spokane.

Those pennies aren’t going to make you rich, but they’re not worthless either. They’ll always be worth exactly one cent, and with billions already in circulation, they’ll keep jingling in pockets for decades to come.

The decision to stop production came down to simple math

Each penny cost 3.69 cents to produce, nearly four times its face value. That’s like paying $3.69 for a dollar bill.

In 2024 alone, the U.S. Mint reported more than $85 million in losses because of penny production.

With production ending, some people wonder if now is the time to hoard rolls of pennies as a future investment. Coin experts have a reality check for that thinking.

“Now that they’re not making them anymore, does that automatically make them worth a lot more? And the answer to that is no,” said Wolter.

Rarity doesn’t equal value when billions of something exist. Wolter explains that with such massive quantities in circulation, “it could be two, three, sometimes four generations before a coin actually picks up pace and becomes interesting and exciting” to collectors.

Even melting pennies down for their metal value won’t work. Modern pennies are made from a mix of the cheapest metals available, then plated in copper rather than being solid copper throughout.

For many Americans, the penny has become more of a nuisance than currency in an increasingly digital payment world.

“Last time I used the penny was to try and give it away,” said Joseph Northrop, a Spokane resident. “It’s a nuisance, really.”

Lincoln’s copper face will continue circulating through the economy on existing pennies.

Whether you choose to spend them, bank them, or use them for a classic coin flip, pennies will remain a small but recognizable piece of American currency history. Just don’t expect them to fund your retirement.