From The Wall Street Journal:
The U.S. government is phasing out the penny, whose use has spanned more than two centuries.
The Treasury Department will stop putting new pennies into circulation by early next year. Afterward, there won’t be enough pennies to use in everyday cash transactions, and businesses will need to start rounding up or down to the nearest 5 cents, the Treasury said in a statement. The move is the culmination of a long bipartisan effort to do away with the lowest-denomination unit of American currency, which is more likely to end up lost or buried under couch cushions than to be used for transactions.
