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The iconic US penny, a symbol of frugality, dies at 232
Business Standard
|November 14, 2025
The American penny died on Wednesday in Philadelphia. It was 232.
Penny's purchasing power has shrunk to nearly nothing, and it costs more than a dime to make
The cause was irrelevance and expensiveness, the Treasury Department said.
Nothing could be bought any more with a penny, not even penny candy. Moreover, the cost to mint the penny had risen to more than 3 cents, a financial absurdity that doomed the coin.
‘The final pennies were minted on Wednesday afternoon in Philadelphia. Top Treasury officials were on hand for its final journey. No last words were recorded.
In its heyday, the penny had immense cultural impact. It was the going rate for thoughts. It was a symbol of frugality, saved and/or earned. It could sometimes be pretty and other times arrive from heaven. And how many ideas would never have come to light without a penny dropping?
This story is from the November 14, 2025 edition of Business Standard.
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