The US penny is finally being retired after circulating for over two centuries – and savvy collectors and everyday Americans alike have the chance to cash in.
In a historic move, the US Mint confirmed that the final penny order has been placed, with production set to end in early 2026. The US now joins countries like Canada, Australia, and New Zealand, which phased out the penny years ago.
The decision comes after Donald Trump took to his Truth Social platform to slam the "wasteful" currency, demanding it be discontinued. "Let's rip the waste out of our great nation's budget, even if it's a penny at a time," he wrote.
It currently costs four cents to produce a single penny, and scrapping the coin could save taxpayers an estimated $56 million. More than 240 billion pennies are reportedly in existence, proving that now is the perfect time to take advantage of the pennies lying around the house and make a profit. Join HELLO! as we explore seven easy ways to help you make the most of the penny's final months.
© Getty Images1. Look for rare or valuable pennies
The obvious starting point is to look for rare or valuable pennies in your possession. Keep an eye out for double-die pennies (where the design is struck onto the coin more than once due to a minting error), off-center strikes or coins with unique errors.
Collectors pay good money for mistakes like these, as well as for Indian Head pennies (minted between 1859 and 1909) and Lincoln cents (minted between 1909 and 1958).
© MediaNews Group via Getty Images2. Sell to collectors
There are countless ways to sell your pennies to collectors, including at coin shows, online marketplaces, and eBay.
They're looking for pieces with slight flaws, unique finishes or historic value, and demand will likely rise with the penny going out of production.
© Getty Images3. Save pennies from 2025
Pennies minted in 2025 will likely become extremely valuable in the future as it is the final year of production. Keep your 2025 pennies in pristine condition to drive the price up when it comes time to sell.
© Getty Images4. Redeem pennies for cash
Take your pennies to the bank now – most banks allow you to cash them in at face value, and this will prevent a pile of pennies from taking up space when they go out of circulation. By redeeming your coins, you can forget about them altogether and make a profit.
© Getty Images5. Get creative with penny art
A creative way to use up any old pennies around your home is to turn them into art – whether that be in a necklace or bracelet, in a sculpture, or in a piece of home décor.
There is a growing trend of transforming old coins into wearable or decorative art, and they are sure to start a conversation if nothing else.
© Getty Images6. Use penny press machines
Look out for the penny press machines that are found at most tourist attractions or national parks.
These souvenir staples imprint your penny with custom designs that are popular among collectors, and the machines will likely become purposeless when the coin goes out of circulation.
A small investment could become a nostalgic memento or a novelty that you can resell.
© Getty Images7. Donate to a good cause
If nothing else, consider donating your spare change to a good cause. Most charities and schools accept coin donations, and your pennies could help fund meals, books, or supplies for someone in need.
