Post Reports The death of the penny
Nov 20, 2025
Jacob Bogage, a White House economic policy correspondent for The Washington Post, joins to discuss the discontinuation of the penny. He reveals how the decision can save the government $56 million a year and addresses concerns about prices changing as a result. Bogage traces the penny's rich history and cultural significance while assuring that cash transactions will adjust smoothly without it. He highlights the balance between nostalgia and practical utility, suggesting that it's time to evolve beyond low-value coins.
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Family Rituals Around Finding Pennies
- Colby shares a family ritual where finding a dime and a penny together feels like a message from a lost loved one.
- That personal meaning made the end of penny production emotionally resonant for her.
Production Cease Is Cost Savings, Not Shortage
- The Treasury stopped minting pennies to cut costs because people rarely use them anymore.
- Ceasing penny production saves about $56 million a year, small versus the $7 trillion economy.
Awkward Final Penny Minting Ceremony
- Jacob recounts the awkward ceremony for minting the final pennies, noting protocol missteps and extra collector coins.
- The mint produced five commemorative pennies with special marks that will be auctioned as collectibles.