Trump wants to end penny production. Will it affect consumers?

President Donald Trump He strives to end the production of new penny and recently said Treasury Secretary Scott Base: so that this happens.

Trump revealed that he was late on Sunday evening. waste. “

Former President Donald Trump, the Republican presidential candidate, arrives during the Electoral Event of the Palm Beach Convention Center on November 6, 2024. On November 6, at West Palm Beach, FLA. (Chip Somodevilla / Getty Images / Getty Images)

This step raised the issue of how American consumers can affect, and according to one expert, the impact will be insignificant.

“I don’t think it will have any influence On consumersA number I think it’s just a very reasonable thing to do because no one else uses penins anymore. No one needs pennies, “said David Bondsen, founder of the Bondsen group, Fox Business. rather backwards about that math. “

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In 2024, the cost of preparing and distributing a penny was 3.69 cents, the last annual report of the US Mint is mentioned.

Last year, US Mint offered a new penny of 3.17 billion. According to the report, the gross cost of these pennies, $ 117 million, has been significantly higher than the value of 31.7 million dollars.

“In terms of consumers, does it make a difference for their cost habits so that there is no precise change as it exists? That’s so marginal, “said Bahnsen.

Pennies are shown in Glenview Coin & Collectibles, 2006 On July 6, in GlenView, Hill. (TIM BOYLE / GETTY Images / Getty Images)

Canada left her a decade ago, and other countries like Australia, New Zealand and Sweden, have taken such actions. After starting the government in Canada, you have to start fragility, rounding up the nearest five cents or descending for cash transactions.

Trump says that he has instructed us to stop the mining of new Pen. “This is so bad.”

Bahnsen noted that the cash transaction transactions “are just less likely to take place in a more digital payment environment,” no more people pay “cash.”

Last summer, issued report Federal Reserve Financial Services In October 2023, 32% of the payments used credit cards and a similar but slightly smaller shares – 30% used debit cards. According to the message, cash payments available 16% of transactions.

The Canadian government said 2012 year. Economic Action Plan It was released in New Zealand, Australia and other countries, “did not raise prices.”

The United States stopped the production of the new US pennies would be few things, Bondsen said.

He also mentioned that the existing pennies will still be circulating, “but you really talk about more collective subject, not a consumer item, not a practical currency that people pay.”

“After all, the motive of President Trump here was just more effective, and I think that the Treasury’s share wasted a lot of money,” Bomanen said, “said Bondsen. Fox Business:A number of “this is not an earthquake, but it is something that marginalajo is more effective, and that’s what the work of the treasury department is.”

Americans for common centings that criticize Trump’s efforts were challenged in the end of January, which shows the penny “will not save the government’s money.”

A pile of penny in the United States in a photo description in Washington, DC, 2025. February 10. (Saul LOEB / AFP VIA GETTY Images / Getty Images)

“Many mint expenses will remain and need to be absorbed by other coins, without a penny,” said Executive Director Mark Weller. “It would also be greater demand for expensive nickels, which means even more expenses.”

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According to CNN, the group receives significant funding from the output. This firm is reported to supply gaps used in the production of mint coins.

The Americans offered the government to “reconsidering the government on the overall cents.”

According to the agency, it cost the mint by almost 13.8 cents.

The group also has pushed back To arguments, the penny has no value and has challenged the “Rounding Tax”, the release of the nomination, “disproportionate” people without non-cash payment methods.