The last penny ever minted by the United States government sold at auction for $16.7 million. U.S. Treasurer Brandon Beach expected to get maybe $5 million. He got more than triple.
"If somebody can spend $16.7 million for a penny, we're going to have a golden age economy," President Trump said when he heard the number.
Beach, who personally struck the final penny at the U.S. Mint, said that the moment landed differently than anything else on his resume. "I will tell you, I've done a lot of cool things, but this was historic to strike the last penny ever," Beach said. "We thought we would get $5 million for it. We sold it for $16.7 million."
After more than two centuries in American pockets, the coin that cost more to produce than it was worth finally got the axe. And because this is the Trump administration, they didn't just quietly phase it out. They turned the funeral into a revenue event.
Meanwhile, the new Trump dollar coin — yes, with his face on it — sold out in four hours. "We sold out of them in four hours," Beach confirmed. The coins will hit banks within the next month, meaning Americans will soon be able to walk into their local branch and get a roll of Trumps.
Bureau of Engraving and Printing Director Michael Brown confirmed the paper money is getting the treatment too. "We've got the $100 bills in circulation with the president's signature on it, and we're working on fives and ones right now," Brown said. So Trump's signature is already on the hundred. The fives and ones are next.
The usual constitutional scholars on social media had opinions about a sitting president appearing on currency. The Coinage Act of 1965 prohibits living persons on circulating coins — except Congress has authorized commemorative and special coins featuring living presidents before, and the dollar coin program has its own enabling legislation. The legal argument collapses before it gets off the ground, which is probably why nobody with a law degree has filed anything.
The $16.7 million penny tells a bigger story than just a novelty auction. The U.S. Mint is a revenue-generating operation under this administration. Commemorative coins, collectible programs, the final penny — these aren't gimmicks. They're a government agency actually turning a profit on cultural demand. The penny cost more to make than one cent for years. Now the last one made the treasury $16.7 million. That's not bad ROI on a piece of zinc.
