That's not much if you shop right. My Early Thursday wine and Swamp Slime beer are bargains. I dip into my pockets. No change.
The article discusses the possibility of President Donald Trump ordering the administration to cease production of the 1-cent coin, also known as the penny.
While Congress dictates currency specifications and the Treasury Secretary has the authority to mint and issue coins, the president's power to abolish any and everything in the federal government is questionable.
The article highlights that President Barack Obama had previously called for legislation to eliminate the penny, noting its high cost of production and minimal value in today's economy.
The article further mentions that the U.S. Mint reported a loss of $85.3 million in the 2024 fiscal year due to the costly production of coins, especially the 1-cent coin, which cost nearly 3.7 cents to mint.
In comparison, the nickel, which is also in low demand, cost almost 14 cents to mint.
The article concludes by stating that if the president does decide to eliminate the 1-cent coin, it would be a surprising move, considering his focus on broader economic issues.
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