The US Treasury Department will hold its final report this afternoon. FOX Business’ Edward Lawrence latest.
Treasury Secretary Scott Besssent struck the final five pens on Wednesday — each bearing the rare Omega Mark — ending US pen production and creating collector’s items that could fetch millions at auction.
The penny, which was first authorized under the Policy Act of 1792, was recently phased out due to rising production costs over the past decade. A small coin now costs about four cents to make, but is only worth one cent.
While experts estimate the auction price of the two-color high-end tokens to be between $2 million, according to USA Today, some collectors have said that the estimates seem unrealistic.
United States Treasurer Brandon Beach holds the last pen pressed at the US Mint on November 12, 2025 in Philadelphia, PA Beach pressed the last pen in a ceremony held at the facility. The pens are pressed with a special ‘omega’ bear and will not (Matthew Hatcher / Getty Images / Getty Images)
We strengthen its last pen as the Treasury Halts production after more than 230 years
Philadelphia-Area Nutismatist Richard Weaver, owner of the Ceomall Varaware Vareley Rare Coin Company, told Phillymag.com that when US Treasurer Brandon Beech was holding the last non-nail image, it may have been damaged.
“If you look at that picture, he’s holding the pen with his fingers on the coin,” Weaver told the outlet. “You don’t. Copper works very deep and fat in the skin, and any serious collector will take this photo.”
Kwaaver hypotheses that since the pens are made for the purpose of the festival and will not enter circulation, their value may decrease.
“You see, they were made for this purpose,” Weaver said. “They’re made to be rare. When you see people paying in millions of coins, they’re paying for coins that are 100 or 200 years old, which is a survival of what they did for that purpose in 1933 or 1794.”
US Treasurer Brandon Beach and mint employee, Mathew Primavera, puts the last pen to be minted at the US Mint in Philadelphia, Nov. 12, 2025. (Demetrius freeman / the washington post via Getty Images / Getty Images)
How to remove a pen – and what could come next to change in your pocket
Authorities and the Ministry of Petroleum said that a few hundred coins will be auctioned by the government the next day, although it has not been announced yet.
President Donald Trump in February announced plans to halt the production of single coins.
“For far too long, the United States has had pens that have literally lost money,” Trump wrote. “This is too wasteful! I instructed my US Treasury Secretary to stop producing new pens.”
United States Treasurer Brandon Beach holds the last pen pressed at the US Mint on November 12, 2025 in Philadelphia, PA Beach pressed the last pen in a ceremony held at the facility. (Matthew Hatcher / Getty Images / Getty Images)
Penny’s Penny’s Goal: It makes sense to stop making pennies
In fiscal year 2024, the penny accounted for 57% of the mint’s circulating revenue of 5.61 billion coins.
According to the most recent estimates, the US mint expects to save about $56 million a year in production costs by NIXING LOIN, according to its website.
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Pennies can still be used for transactions, and those in circulation will continue to be held until the end of their 30-year life.
The mint said it will continue to produce collector versions of the pen in limited quantities.
