A penny saved was a penny earned. A penny bought your thoughts. A penny was pretty. A penny was pinched. A penny might even be hiding in your loafer. There won’t be as much of that anymore. The Treasury Department said on Thursday that it was phasing out the penny.

The Treasury Department placed its last order for penny blanks earlier this month, fulfilling a bipartisan, and DOGE, dream.

The U.S. government is no longer going to mint pennies, and soon cash retail transactions will be rounded to the nearest nickel. What, exactly, does a single penny buy you these days? We took a drive around town to find out.

But older pennies are worth their weight in copper. Pennies made before 1982 are worth about 3 cents a piece. Although you can sell them to a coin shop, you can’t melt them down. Since pennies are still legal tender, it’s a felony to melt them for profit.

Treasury Department will take pennies out of circulation next year. Costly nickels, however, could cancel out savings.

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