The United States has used the penny since 1787, but it is often left behind on streets, at the bottom of purses or saved in jars to eventually dump into a Coinstar. In November 2025, the secretary of the Treasury suspended production of the penny, meaning the United States will no longer circulate new coins. Assistant Professor of Economics Kulsoom Hisam discussed the decision in an interview with The Olaf Messenger.

“I think in the 1790s or the 1900s, the penny would get you, like, maybe a piece of candy or a candle,” Hisam said. “Now, the penny is not worth anything and is losing something called purchasing power.”

Because of inflation and the way money loses value over time, the penny has lost most of its worth to the economy. And due to production costs, it can actually cost more to make a penny than a penny is worth.

“It costs around 3.69 cents to make just one cent, which is not what it’s worth,” Hisam said. “And basically, if you stop the production of pennies, it’s estimated that you’re going to save $50 to $60 million a year.”

The end of the penny also means businesses will round up when giving change or potentially raise prices, though the effects should be minimal.

“If something is $4.53, it’s going to be rounded up to $4.55,” Hisam said. “There’s barely going to be an impact since they just stopped minting new pennies. Gradually, over time, they would disappear.”

Some students, however, still have concerns that the change could raise prices.

“It’s definitely interesting,” Ashley Kaszubowski ’27 said. “I don’t know a lot, but it seems like it’s gonna be costly.”

The end of the penny may come as a shock or as something that needed to happen, and opinions differ on how the economy will respond. Only time will tell how consumers and the broader economy will be affected long term.