Trump tells Treasury to stop minting 'wasteful' pennies
Published On Feb 10, 2025, 3:13 AM
President Trump has directed the US Treasury to stop minting pennies, labeling the practice as wasteful. This announcement follows discussions about the cost of producing pennies, which exceeds their face value. Critics argue that pennies are no longer useful in modern transactions. This move aims to streamline government spending.
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The discontinuation of the penny could streamline costs for the US Mint and potentially lead to broader discussions about currency efficiency. If implemented, it might affect companies that process or rely on cash transactions.