The U.S. Treasury, under the direction of President Donald Trump, has halted the production of new pennies, citing rising costs. According to the U.S. Mint’s 2024 Annual Report, producing a single Lincoln cent now costs 3.69 cents — up from 3.07 cents in 2023 and 2.72 cents in 2022. The cost of minting a nickel has also surged to 13.78 cents per coin. Given these costs, many argue that eliminating low-denomination coins is a fiscally responsible step.
But the disappearance of the penny is not just about cost-cutting — it may be an early move toward a broader shift away from physical currency altogether. And when financial access is restricted, history shows that women are often among the first to suffer.
