New Delhi, May 24 -- The US Mint has reportedly made its final order of penny blanks and plans to stop producing the coin when those run out, a Treasury Department official confirmed Thursday.

According to reports, the US Treasury plans to stop putting new pennies into circulation in early 2026, when it has finished minting its final batch of penny blanks. After that, it will take years for the coins to cycle out of public use entirely.

This move came as the cost of making a penny rose to more than twice the coin's face value. The Treasury Department was quoted by the Associated Press as saying that the cost of making pennies had increased markedly, by upward of 20 percent in 2024.

The face value of 1 penny is one Cent. Hundred cents m...