https://sputnikglobe.com/20250523/us-govt-to-stop-minting-one-cent-coin---reports-1122113686.html
US Gov’t to Stop Minting One-Cent Coin - Reports
US Gov’t to Stop Minting One-Cent Coin - Reports
Sputnik International
The US Treasury Department has decided to stop minting one-cent coins due to the high cost of their production, CNN reported, citing a statement from the department.
2025-05-23T04:15+0000
2025-05-23T04:15+0000
2025-05-23T04:15+0000
americas
us
economic decline
coin
inflation
us economy
economic collapse
waste
us treasury department
donald trump
https://cdn1.img.sputnikglobe.com/img/07e9/05/17/1122113782_0:248:3000:1936_1920x0_80_0_0_df5eb4bccf18204cb7942e9da36ffbbd.jpg
The government placed its last order of penny blanks in May, the report said on Thursday, adding that the US Mint will produce pennies until their stocks are exhausted. The decision to abandon the penny was reportedly expected - the cost of the coin exceeded its face value. Back in February, US President Donald Trump said he had ordered their production to be stopped due to costs.
https://sputnikglobe.com/20240229/us-doing-everything-to-reverse-inevitable-economic-decline-1117062888.html
americas
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
2025
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
News
en_EN
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
penny, coins, us economy, economic decline, inflation, american economy, american inflation, inflation in the us, minting coins, cut waste, waste, fraud, and abuse, money saving, one-cent coin, one cent
penny, coins, us economy, economic decline, inflation, american economy, american inflation, inflation in the us, minting coins, cut waste, waste, fraud, and abuse, money saving, one-cent coin, one cent
US Gov’t to Stop Minting One-Cent Coin - Reports
MOSCOW (Sputnik) - The US Treasury Department has decided to stop minting one-cent coins due to the high cost of their production, CNN reported, citing a statement from the department.
The government placed
its last order of penny blanks in May, the report said on Thursday, adding that the US Mint will produce pennies until their stocks are exhausted.
"Given the cost savings to the taxpayer, this is just another example of our administration cutting waste for the American taxpayer and making the government more efficient for the American people," the department was quoted as saying by the broadcaster, adding that the move will save $56 million to taxpayers.
The decision to abandon the penny was reportedly expected - the cost of the coin exceeded its face value. Back in February, US President Donald Trump said he had ordered their production to be stopped due to costs.
29 February 2024, 23:31 GMT
