8legs: Philadelphia, united states

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The penny was always worth more than one cent

The U.S. Mint will strike its last circulating batch of the 1-cent coin in Philadelphia.
The move follows a Trump order to halt penny production and a Treasury phase-out plan.
Retailers are already preparing for a post-penny economy by rounding prices to the nearest nickel.
The penny costs more to produce than its value, fueling the push to retire it.
The penny has a long cultural history, from phrases to traditions dating back to 1793.
The penny's phase-out has drawn comparisons to similar changes in other countries.
Legislation to formally eliminate the penny has been introduced in Congress.
The penny has long been a symbol of American small-change and memory, despite its low value.
The piece notes the penny’s potential retirement alongside other low-cost coins like the nickel.

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