The U.S. Treasury announced it will phase out pennies, putting a stop to adding one-cent coins into circulation.

The US Treasury Department announced Thursday that it plans to start winding down production of the one-cent coin it has been minting for more than 230 years. But the penny will still remain legal ...

Ceasing production will deliver an immediate annual saving of $56m (£42m) in reduced material costs, according to the US Mint ...

One and 2p coins are not being scrapped but there have been several years when no 2p coins were produced, the Treasury said.

The U.S. last week unveiled its plan to finally phase out the lowly penny. The Treasury Department has placed its last order ...

The United States Treasury is planning to phase out the penny, which is minted at the U.S. Mint in Philadelphia.

Here's a rundown of U.S. Mint production costs from the government's latest fiscal year. Each penny costs nearly 4 cents — or $0.0369, to be exact — for the U.S. Mint to make and distribute.

By FATIMA HUSSEIN and ALAN SUDERMAN Associated PressWASHINGTON (AP) — The Trump administration says making cents doesn't make sense anymore.

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The American penny will begin its slow fade into non-existence as the government plans stop making the U.S. currency next year.