President Donald Trump announced that the U.S. Treasury will stop minting pennies, citing their cost to produce exceeding their value. Pennies, which cost nearly 2 cents to make, have been a wasteful expense for the country. Trump’s decision comes after years of debate on the issue, with countries like Canada already eliminating the penny. In 2012, Canada stopped producing pennies for the same reasons—printing costs were higher than the coin’s value. Despite concerns that removing pennies might lead to inflation, experts argue there is no evidence of this, and the U.S. could save billions by discontinuing them. Critics also suggest the move would improve convenience, as it would simplify prices and reduce clutter in pockets.
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