Many countries are discussing the abolition of the smallest denominations, and some, such as Australia and New Zealand, implemented it many years ago. In February, US President Donald Trump made it a concrete plan for the United States.

The one-cent coin, also known as a penny, now costs nearly four times its face value to produce. This is estimated to result in total costs of 56 million US dollars each year. The US Department of the Treasury announced to the Washington Post in May that it would indeed stop minting the coins as soon as the current stock of blanks had been used up. Prices will be rounded to the nearest 5-cent amount, but the penny will continue to be accepted as legal tender for the time being.

For collectors, the discontinuation of the penny would change the perception of this historic coin, and for many, its low material value could give way to a much higher emotional value. The first 1-cent coin was minted in 1793. Since 1909, it has featured the portrait of US President Abraham Lincoln. Only in 1815 were no pennies issued.