Final penny to be pressed at U.S. Mint in Philadelphia as the 1-cent coin gets canceled ...Middle East

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But their luck is about to run out.

Mr. Trump has ordered its demise as costs climb to nearly 4 cents per penny and the 1-cent valuation becomes somewhat obsolete.

"For far too long the United States has minted pennies which literally cost us more than 2 cents," Mr. Trump wrote in an online post in February, as costs continued to climb. "This is so wasteful!"

Some rounded prices down to avoid shortchanging people, others pleaded with customers to bring exact change and the more creative among them gave out prizes, such as a free drink, in exchange for a pile of pennies.

Some banks, meanwhile, began rationing supplies, a somewhat paradoxical result of the effort to address what many see as a glut of the coins. Over the last century, about half of the coins made at U.S. Mints in Philadelphia and Denver have been pennies.

But they still have a better production-cost-to-value ratio than the nickel, which costs nearly 14 cents to make. The diminutive dime, by comparison, costs less than 6 cents to produce and the quarter nearly 15 cents.

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