In spending cuts, USA ends production of the penny after 232 years

One cent coin REUTERS/Mike Blake The United States minted its last one cent coin this Wednesday (12). The measure aims to cut spending, as the currency has lost its relevance over time. ✅ Follow the g1 international news channel on WhatsApp The last cent was minted in Philadelphia by the United States treasurer, Brandon Beach, which officially ended the coin’s 232 years of production. “While overall production ends today, the legacy of the penny continues,” said Kristie McNally, interim director of the Mint. Around 300 billion coins of this value are currently in circulation in the country. See the videos that are trending on g1 In February, President Donald Trump asked the Treasury Department to end the production of cents, to reduce government spending. “For a long time, the United States minted pennies that literally cost us more than two cents. It’s a total waste!”, he explained. Initially, pennies were made from pure copper. The current ones are smaller and made of copper-coated zinc, which gives them their pinkish tone. Over the past decade, the cost of manufacturing each coin has increased from 1.42 to 3.69 cents, according to the Mint. READ ALSO Trump wants to block visas for obese people: how will Volta de Jesus work? Vatican denies that Christ appeared more than 40 times on a hill in France Trump says Epstein’s emails are a ‘trap’ for the opposition: ‘Only a very stupid Republican would fall for it’ VIDEOS: most watched on g1

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