Every penny minted represents a loss for taxpayers,” said Francois Velde, economist at the Federal Reserve Bank of Chicago.

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Farran Powell is the managing editor of investing at Forbes Advisor. She was previously the assistant managing editor of investing at U.S. News & World Report. Her work has appeared in numerous ...

The United States has had a one cent coin since the founding of the nation and on Wednesday, November 12, the last American penny will be minted.