The US Penny Has Been Discontinued: What It Means for Collectors

After more than 230 years of continuous production, the United States Mint has stopped striking new pennies. The Treasury cited the long-running cost imbalance — for years it has cost more than three cents to produce each one-cent coin — combined with declining circulation use as the deciding factors. The White House directed Treasury to wind down penny production in February 2025, and the US Mint hosted a ceremonial final strike in Philadelphia on November 12, 2025.

For collectors, the question now is twofold: what does this mean for pennies already in circulation, and what does it mean for the long-term value of Lincoln cents. The short answer: existing US cents remain legal tender indefinitely, and most circulating cents will not become valuable simply by virtue of the discontinuation — but specific dates, mintmarks, and varieties may see modest appreciation as collector attention concentrates on a now-closed series. Particular focus on the modern Lincoln Union Shield and Lincoln Memorial runs that will be the final entries in the cent catalog.

What changes day-to-day

Existing pennies remain legal tender. You can still spend, save, and deposit them at any bank. The Federal Reserve will continue to redistribute existing cents from cash receipts back into circulation until inventory thins out — a process that will likely take several years given the many billions of pennies still held by the public and in commercial cash inventories.

Cash transactions at retail will increasingly round to the nearest five cents, mirroring the path Canada took when it discontinued its penny in 2013. Electronic transactions are unaffected; rounding only applies to physical cash.

What it means for collectors

The penny is now a closed series — and historically, closing a series has had three predictable effects on collector demand:

• Increased attention to key dates. Coins like the 1909-S VDB Lincoln cent, 1914-D, 1922 No D, and the 1955 doubled die obverse were already established rarities. Discontinuation typically pulls more new collectors into the hobby, which lifts demand for the recognized scarce dates.
• Renewed interest in modern varieties. Collectors who previously ignored the Lincoln Memorial and Union Shield issues often revisit them once production stops, looking for low-mintage years and recognized errors.
• Common-date premiums stay modest. Discontinuation does not turn ordinary worn cents into windfalls. Most circulated common dates remain worth face value or close to it. Be cautious of headlines claiming otherwise.

Which Lincoln cents are most likely to appreciate

If you're holding pennies and wondering which to set aside, focus on the already-recognized scarce dates and varieties rather than every coin in the jar. Across the Lincoln Wheat Cent series these are the names that matter:

• 1909-S VDB — first-year, low mintage, designer initials
• 1914-D — semi-key in the wheat series
• 1922 No D — die-pair error from Denver
• 1931-S — low Depression-era mintage
• 1955 Doubled Die Obverse — high-profile error
• 1969-S Doubled Die Obverse — Memorial-cent rarity
• 1972 Doubled Die Obverse — high-grade demand

For specific year-and-mintmark values across the entire Lincoln cent series, see our Wheat Penny value chart and the Wheat Cent price guide. Spotting which mintmark you have makes the difference between face value and a four-figure coin — see how to read mint marks if you need a refresher.

Should I save my pennies?

Worth keeping aside: any coin from the key-date list above, anything in uncirculated condition, and any apparent error or doubled-die candidate. Worth spending or rolling up: the rest of your common-date jar. Even with discontinuation, the math on a coffee-can of mid-century wheat cents at face value rarely changes.

Of course, sentimental value doesn't require a price tag. If the idea of keeping a representative penny from each year of your life appeals to you, the discontinuation is a perfectly reasonable prompt to finally do it.

What about Lincoln cent collections in progress?

If you're working on a Lincoln Memorial or Union Shield set, finish it. Closed series typically draw more collectors into completion mode, and in the medium term that lifts demand for the harder-to-find dates within the set even when those dates aren't classic key dates.

We'll update this article as the Treasury and US Mint release additional details. If you've spotted a factual issue or a missing detail, email contact@getluckycoin.com.