The United States yesterday issued the last one-cent coin, as the cost of its production exceeds its face value. In a statement, the Mint announced that new pennies will no longer be issued for circulation, ending a 232-year history of their production. The Mint recalled that 'the penny has played a significant role in the daily lives of Americans since the early days of the economic system to the present day,' but clarified that 'economic and industrial factors, along with changes in consumer behavior, have made its production unsustainable.' It was noted that 'the cost of producing each penny has risen over the past decade from 1.42 cents to 3.69 cents'.
