From The New York Times:
The American penny died on Wednesday in Philadelphia. It was 232. The cause was irrelevance and expensiveness, the Treasury Department said.
Nothing could be bought anymore with a penny, not even penny candy. Moreover, the cost to mint the penny had risen to more than 3 cents, a financial absurdity that doomed the coin. The final pennies were minted on Wednesday afternoon in Philadelphia. Top Treasury officials were on hand for its final journey. No last words were recorded.