Washington (AP) – The American currency made its last order of Penny Blanks and plans to stop producing the medal at the end, confirmed on Thursday a head of the Treasury department.
An immediate annual saving of $ 56 million in reduced equipment costs is expected by stopping Penny’s production, according to the official, who was not authorized to discuss the question publicly and spoke under the cover of anonymity to preview the news.
In February, President Donald Trump announcement that he had ordered his administration to cease the production of the 1 hundred part.
“For too long, the United States has had sub-frappes that have literally cost us more than 2 hundred. It’s so a waste! ” Trump wrote at that time in an article on his social site Truth. “I asked my American Treasury Secretary to stop producing new money.”
The secretary of the National Treasury has the power to mention and to issue documents “as a amount that the secretary decides is necessary to meet the needs of the United States”.
The defenders of the Penny abandonment cite its high production cost – nearly 4 hundred by Penny now, according to American mint – and limited utility. Penny fans cite its usefulness in charities and the relating to production costs compared to nickel, which costs almost 14 cents to mint.
The Wall Street Journal reported the news for the first time.
The sous are the most popular room made by the US Mint, which said it made 3.2 billion last year. This represents more than half of all the new parts he made last year.
The congress, which dictates currency specifications such as the size and the metal content of the parts, could make the order of Trump permanent by law. But the previous efforts of the congress to abandon the penny failed.
Two bipartite bills to kill Le Penny were permanently presented this year.
Sense. Mike Lee, Rutah and Jeff Merkley, D-ear., Presented the To make sense and not the hundred act This month. In April, the representatives Lisa McClain, R-Mich., And Robert Garcia, D-Calif., With meaning. Cynthia Lummis, R-Wyo., And Kirsten Gillibrand, Dn.y., presented the law on common cents.
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Suderman reported in Richmond, Virginia.
