The federal government minted its last penny about two months ago, but it will be decades before the penny becomes a rare coin. Newly confirmed U.S. Mint Director Paul Hollis from Mandeville says enough pennies have been minted to stack them to the moon and back.
“There’s tons, I mean literally tons and tons of pennies, that are out there. I think that some will re-circulate, I hope,” Hollis said.
In addition to the massive amount already in circulation, the fact that Americans rarely use cash anymore will prolong the penny’s survival. Hollis says consumers are using coins less and less…