U.S. Treasury retires penny and introduces Trump-themed currency

U.S. Treasurer Brandon Beach has announced several significant changes to United States currency, including the retirement of the penny and the introduction of new denominations featuring President Donald Trump.

The final penny ever manufactured was sold at auction for $16.7 million, exceeding initial expectations of $5 million. Additionally, the U.S. Mint has released a new $1 coin featuring the president's likeness, which sold out on the agency's website within four hours.

Bureau of Engraving and Printing Director Michael Brown confirmed that $100 bills featuring the president's signature are already in circulation. Officials are currently working on releasing new $5 and $1 bills later this year. The new $1 coins are legal tender and are expected to be available in banks within the next month.