Three months after the order given by Donald Trump to eliminate the “penny”, the United States Treasury confirmed on Thursday that he had made his last order of these 1 hundred parts that will gradually disappear more than two centuries after his circulation in 1793.
For its part, the American mint, the US currency, will continue to produce Le Penny until its stock of virgin pieces has passed. This means that production must definitely stop next year, inform the Wall Street Journal and CNN.
In mid -February, Donald Trump had asked to stop the production of the penny that is considered too expensive.
Actually, penny production is even more expensive: 3.69 cents per room, according to the United States treasure. According to the American mint, detained production will generate an annual savings of $ 56 million. If consumers with pieces can always use them, merchants will have to round their prices up or down.
Europe also wants to get rid of red pieces
With this decision, the United States joined its Canadian neighbor who withdrew its parts of 1 hundred traffic in 2012 to save money. In Europe, the abolition of 1 and 2 cents is also on the agenda. It even had to be ratified in 2022, but the inflationary crisis seems to have delayed the project.
Several countries of the old continent did not wait for the green light of Brussels not to go without red pieces. Ireland, the Netherlands, Belgium and Italy have announced in recent years the gradual abandonment of 1 and 2 cents. Finland, who made them like all their neighbors, never put them into circulation in the launch of the euro in 2002. As for France, the Paris currency has already planned to fall into 40% of the production of pieces in 1, 2 and 5 cents by 2027, he remembered humanity.
As is the case throughout the Atlantic, the production of 1 and 2 cents in Europe is considered too expensive, mainly due to the cost of raw materials (steel and copper). A 1 cm euro piece costs 1.65 cents, more than its facial value.
However, not everyone is in favor of the disappearance of the “little scrap.” Some remember that companies that will have to round their prices will tend to round them instead of going down. Another trap: the possible impact on social economy and solidarity, while small pieces can be used for donations such as during the annual campaign of yellow pieces.
Source: BFM TV
