Jessica Mendoza

For most of its history, the penny was made almost entirely of copper. But then copper got more expensive. So in the 1980s, in an effort to cut production costs, the U.S. Mint switched to zinc, which is cheaper, and then coated those pennies in copper. Regardless, the costs of making the penny kept rising.

For most of its history, the penny was made almost entirely of copper. But then copper got more expensive. So in the 1980s, in an effort to cut production costs, the U.S. Mint switched to zinc, which is cheaper, and then coated those pennies in copper. Regardless, the costs of making the penny kept rising.

For most of its history, the penny was made almost entirely of copper. But then copper got more expensive. So in the 1980s, in an effort to cut production costs, the U.S. Mint switched to zinc, which is cheaper, and then coated those pennies in copper. Regardless, the costs of making the penny kept rising.

These days, the government spends almost four cents to make just one penny. And last year, the Mint lost $85 million on the pennies that it produced. And all of this for a coin that, as we were saying earlier, winds up in places that aren't transactional at all, like fountains and jean pockets, right?

These days, the government spends almost four cents to make just one penny. And last year, the Mint lost $85 million on the pennies that it produced. And all of this for a coin that, as we were saying earlier, winds up in places that aren't transactional at all, like fountains and jean pockets, right?

These days, the government spends almost four cents to make just one penny. And last year, the Mint lost $85 million on the pennies that it produced. And all of this for a coin that, as we were saying earlier, winds up in places that aren't transactional at all, like fountains and jean pockets, right?

All that waste hasn't gone unnoticed. For years, the government has acknowledged the penny problem.

All that waste hasn't gone unnoticed. For years, the government has acknowledged the penny problem.

All that waste hasn't gone unnoticed. For years, the government has acknowledged the penny problem.

In 2013, President Obama was asked about getting rid of the penny during a live stream on YouTube.

In 2013, President Obama was asked about getting rid of the penny during a live stream on YouTube.

In 2013, President Obama was asked about getting rid of the penny during a live stream on YouTube.

The penny lived on. And then, President Trump returned to office and said he wanted to cut what he considers waste in the government. In February, Trump took aim at the penny on social media.

The penny lived on. And then, President Trump returned to office and said he wanted to cut what he considers waste in the government. In February, Trump took aim at the penny on social media.

The penny lived on. And then, President Trump returned to office and said he wanted to cut what he considers waste in the government. In February, Trump took aim at the penny on social media.

The plan to phase out the penny has been put in motion. The Mint has placed its last order of blanks, those metal disks that coins are pressed onto. And those will be the last pennies put into circulation. You'll still be able to use the pennies you have. They're still considered legal tender. Changing that is up to Congress. But ultimately, the penny is on its way out. It's all out of luck.

The plan to phase out the penny has been put in motion. The Mint has placed its last order of blanks, those metal disks that coins are pressed onto. And those will be the last pennies put into circulation. You'll still be able to use the pennies you have. They're still considered legal tender. Changing that is up to Congress. But ultimately, the penny is on its way out. It's all out of luck.

The plan to phase out the penny has been put in motion. The Mint has placed its last order of blanks, those metal disks that coins are pressed onto. And those will be the last pennies put into circulation. You'll still be able to use the pennies you have. They're still considered legal tender. Changing that is up to Congress. But ultimately, the penny is on its way out. It's all out of luck.

But there are still folks out there who haven't given up on the penny. The other side of the coin is after the break. Do you carry change with you all the time?

But there are still folks out there who haven't given up on the penny. The other side of the coin is after the break. Do you carry change with you all the time?