Louisiana And Texas Officially Say Farewell To The Penny
(KHLA - Louisiana/Texas) - There's been strong speculation since the beginning of the year that the penny was on the chopping block and would no longer be made in the USA. It's now official and we have all the details.
We reported in February earlier this year of the possibility that the penny's days were numbered.
Trump posted this on Truth Social at the beginning of the conversation:
For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful! I have instructed my Secretary of the US Treasury to stop producing new pennies.
Penny Fact: The U.S. penny has been a part of our daily currency for more than two centuries.
The U.S. Mint says they have made their last run of penny blanks and will no longer make the coin after those blanks are pressed and distributed.
An anonymous official told the AP that this move will save the USA around $56 million in material costs right off the bat.
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According to the U.S. Mint, it now costs 4 cents to make a penny.
New legislation has been proposed this month from several Senators and Representatives to permanently kill the penny.
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Gallery Credit: Bethany Adams