A day after Treasury announces it will end penny production, Gov. Polis applauds the move

DENVER, Colo. (KRDO) – A day after the U.S. Treasury Department announced it will be phasing out the production of pennies completely, Colorado Governor Jared Polis says he's glad to see the change, calling it a "great move."

On Thursday, a Treasury spokesperson told CNN that the U.S. government has placed its final order of penny blanks, and the U.S. Mint will only continue producing pennies until the current supply is depleted.

This move follows a significant rise in penny production costs, which increased by over 20% in 2024, according to the Treasury, and currently cost over three cents ach to produce.

The change doesn't come as a complete surprise. In February, President Donald Trump ordered the Treasury to stop producing the coin as a cost-saving measure. The Treasury estimates that ceasing production of the penny will save taxpayers $56 million annually.

The day after the announcement, Governor Polis praised the Treasury’s decision.

“It doesn’t make sense to make cents," Polis said in a statement Friday. "I applaud the Treasury Department for taking this step to cease printing of the penny. It costs more money to make a penny than it is worth, and this move will save Americans millions of dollars every year while reducing the negative impacts on our environment from zinc and copper mining. I advocated for eliminating the penny when I was in Congress, and I’m glad to see it becoming a reality. An effort to save taxpayer money like this one meets the needs of consumers, while improving our air quality and better protecting our environment."

Polis previously posted in support of eliminating the penny earlier this year, citing environmental benefits and costs to taxpayers.

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