RICHMOND, Va. (AP) — The lowly penny, the forgotten mainstay of coin jars and car cupholders everywhere, may soon be no more.
President Donald Trump announced Sunday he’s ordered his administration to cease production of the 1-cent coin, whose buying power is long past its prime.
Advocates for ditching the penny cite its high production cost — currently almost 4 cents per penny, according to the U.S. Mint — and limited utility. Fans of the penny cite its usefulness in charity drives and relative bargain in production costs compared with the nickel, which costs almost 14 cents to mint.
Trump’s surprise order comes after decades of unsuccessful efforts to pitch the
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