CNN reported on the cessation of minting of one-cent coins in the United States

The U.S. Treasury Department will stop issuing one-cent coins after more than 200 years of minting, and production is expected to be completed early next year. This was reported on 22 by CNN with reference to the American department.

It is specified that the minting of one-cent coins will be discontinued in the United States due to their unprofitability. The last order for penny blanks was made by the American government in May. After the reserves are exhausted, their production will be completed.

"The United States has been minting pennies for too long, which literally cost us more than two cents. It's so wasteful! I have instructed my Treasury Secretary to stop printing new pennies. Let's take the waste out of the budget of our great country, even if it's a penny at a time," Trump wrote on the Truth Social network.

The department predicts that stopping the minting of pennies will help save about $56 million, the Newspaper added.Ru». The Ministry of Finance clarified that the decision was due to the fact that the cost of a penny exceeds its face value.

The issue of pennies has been unprofitable for many years. Currently, the production of one such coin costs more than one cent. At the same time, losses on the issue of a five—cent coin (nickel) are even higher - 13.8 cents per piece, including logistics costs.

The penny is one of the first coins issued by the U.S. Mint after its founding in 1792. In 1909, the profile of Abraham Lincoln appeared on it for the first time, for his centennial anniversary.

A calculated risk: who Trump's economic ministers will turn out to be

The most aggressive proponents of protectionism and the bitcoin reserve have had to squeeze in

On February 2, the head of the US Treasury Department, Scott Bessent, granted the team of American entrepreneur, head of the Department of State Efficiency (DOGE) and entrepreneur Elon Musk access to the federal payment system to monitor and limit government spending.

Before that, on January 31, he was an American entrepreneur and head of the Department of Public Efficiency (DOGE). Elon Musk has proposed cutting spending in the United States budget by $4 billion a day to reduce the federal deficit in 2026. In his opinion, even such measures will lead to a reduction in the budget deficit from $2 trillion to $1 trillion, but economic growth should match this figure, which, in turn, means no inflation in 2026.