US President Donald Trump has ordered the Treasury Department to stop the new money. The billionaire ordered to stop the production of one-per cent, citing the increasing cost of its production. The step to prevent penny production combines the efforts of the Trump administration, which implements comprehensive changes through executive orders on issues from immigration to gender and diversity to the name of the Gulf of Mexico.
Trump wrote, “The United States has collided with penis for a very long time, which literally spends us more than 2 cents. It’s very useless! I have to stop production of new penny to my secretary of American Treasury Instructed, “Trump wrote.
He said, “Rip the waste from the budget of our great nation, even if it is a penny at a time,” he said.
A coin of one-percent, also known as a penny, was first released by the federal government in 1793. Since 1909, President Abraham Lincoln’s profile has decorated the Obercs side of the coin which is made of zinc and copper.
It is not clear whether President Trump has the power to eliminate low coins as a unilateral currency specifications – which includes the size and metal materials of coins – determined by the Congress.
The debate on whether Penny should be removed from the line-up of American currency, rabling over the years. In 2013, economist Henry Aaron asked the American currency to release Penny and Nickens, “Life will be simple without this monetary detritus.”
However, the issue of ending Penny was part of the Republican leader’s election campaign. But his mega-Billionaire Ellon Elon Musk’s so-called Government Efficiency Department (DOGE) had increased the possibility in a post on X last month, highlighting the cost of production.
The US Mint reportedly lost $ 85.3 million in the 2024 financial year, which ended at approximately 3.2 billion penis in September, produced by it. The cost of each penny is approximately $ 0.037 – from $ 0.031 a year ago. The mint also loses money on nickel production, with each of $ 0.05 coins with approximately $ 0.14.
Penny’s supporters have argued that it helps to keep consumer prices low and is a source of income for donations. For many Americans, however, the coin has become a nuisance that is left in the drawer, ashtra and piggy banks.
However, if Penny was to be scraped, an idea would only have to make the final digit of the prices of all products zero.
