The End of an Era: The Last Penny Minted in Philadelphia
The End of an Era: The Last Penny Minted in Philadelphia A Historic Moment for Currency Today marks a historic turning point in the history of U.S. currency as the last-ever penny is minted in Philadelphia. This monumental event signifies the end of the 1-cent coin, a staple in American coinage since its inception in 1793. The Decision to Phase Out the Penny The United States Mint announced this week that the final penny will roll off the press amid ongoing discussions about the future of the 1-cent coin. Factors influencing this decision include rising production costs and changes in consumer behavior, leading to a reduced need for such low-denomination coins. Impact on Retailers and Consumers This decision has sent ripples through the retail sector, as many businesses adjust to a world without the penny. Retailers are concerned...