Penny (United States coin)

The penny, officially called "one cent", is a United States coin worth one cent, equal to 1⁄100 of a dollar ($0.01). It has been the lowest face-value coin or banknote of U.S. currency since the abolition of the half-cent coin in 1857. Introduced in 1793, it was produced for circulation until 2025 and continues to circulate.

The United States Mint's official name for the coin is "" and the U.S. Treasury's official name is "one cent piece". The term penny derives from the British coin of the same name, which occupies a similar place in the British system. Pennies is the plural form, not to be confused with pence, which refers to the unit of currency.

The first U.S. cent was produced in 1787, and the cent has been issued primarily as a copper or copper-plated coin throughout its history. In 1792, Congress established the U.S. Mint, which began producing coins. In the same year, the Coinage Act of 1792 mandated that the penny be valued at one hundredth part of a dollar and contain precisely 11 penny-weights of copper. In March 1793, the newly established Mint in Philadelphia distributed the first set of circulating U.S. currency – 11,178 copper cents.

The penny was issued in its current form as the Lincoln cent, with its obverse featuring the profile of PresidentAbraham Lincoln since 1909, the centennial of his birth. From 1959 (the sesquicentennial of Lincoln's birth) to 2008, the reverse featured the Lincoln Memorial. Four different reverse designs in 2009 honored Lincoln's 200th birthday and a new, "permanent" reverse – the Union Shield – was introduced in 2010. The coin is 0.75 inches (19.05 mm) in diameter and 0.0598 inches (1.52 mm) in thickness. The current copper-plated zinc cent issued since 1982 weighs 2.5 grams, while the previous 95% copper cent still found in circulation weighed 3.11 g.

In the early 2010s, the price of metal used to make pennies rose to a noticeable cost to the Mint which peaked at more than 2¢, a negative seigniorage, for the 1¢ face-value coin. This pushed the Mint to again look for alternative metals for the coin. Due to inflation, a single penny has lost virtually all its purchasing power. The coin was viewed as a burden to businesses, banks, government (especially mints) and the public in general; one survey found that 2 percent of Americans throw pennies in the trash. Debate mounted over eliminating the coin, which can only be done through an act of Congress.

In November 2025, the Mint suspended the production of pennies for circulation, largely due to cost. The penny continues to circulate and remains legal tender, and is still minted for collectors.

From late 2025 to January 2026, many terminals did not accept pennies, causing a nationwide shortage. Many businesses round cash transactions to the nearest 5 cents if pennies are unavailable.