The Chairman of the Board of Directors of O’Learey Ventures is participating in whether he is concerned about President Donald Trump’s tariff for steel and aluminum, and the fate of the United States and the processing of the Tiktok sale process.
President Donald Trump is seeking to finish the production of new penalties, and the Treasury Secretary Scott Besent recently told.
Trump revealed late on Sunday night that he “issued the instructions of the US Treasury to stop wasted!”
Former President Donald Trump, Republican presidential candidate, arrives to speak during the election night event at the Palm Beach Convention Center on November 6, 2024, in West Palm Beach, Florida. (Chip Somodevilla / Getty Images / Getty Images)
The move raised the issue of how American consumers can be affected, and according to one expert, the effect will be minimal.
“I don’t think it will have any impact on consumers. I think it is very reasonable to do, because no one is used in pennies anymore. No one needs penny.” “Just as it relates to basic practical operations and cost benefits, the studies I have seen are that they cost three cents to make a penny, so there is somewhat about these mathematics.”
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The latest annual report in the United States indicated that the cost of making and distributing a 3.69 cents in 2024, and the latest annual report in the United States indicated.
The United States shipped mint 3.17 billion new Penemia last year. The total cost of these pennies, $ 117 million, was much higher than its value combined 31.7 million dollars, according to the report.
“Regarding the influence on consumers, does a difference in their spending habits happen so that it does not have an accurate change to the extent that it is at all? It is very marginal, it will be an approximation error,” Banson said.
The pennies are displayed in Glenview Coin & Collectibles 6 July 2006, in GlenView, ILL. (Tim Boyle / Getty Emociz / Getty Earth)
Canada has moved away from its copy of Benny more than a decade ago, and other countries such as Australia, New Zealand and Sweden took similar measures before that. In Canada, after the government began to gradually get rid of pennies, approximation has become up or up to the earliest five cents for cash transactions.
Bannon said that closer to cash transactions “is unlikely to happen in a more digital payment environment,” there are not many people “pay cash” these days.
A report issued last summer before Federal reserve financial services 32 % of the payments were found in October 2023 used credit cards and a similar but slightly smaller share – 30 % – discount cards used. At the same time, the payments of criticism are 16 % of transactions, according to the report.
The Canadian government said in the 2012 economic action plan that the disposal of pennies in New Zealand, Australia and other countries “did not cause an increase in prices.”
Bannon said the United States, which stops producing new books, will only have little advice.
He also pointed out that the current pennies will remain in circulation, “but you really talk about more collected elements, not an element of the consumer, and not a currency of transactions that people pay.”
“In the end, President Trump’s motive here was to be more efficient, and I think the Treasury Ministry wastes a lot of money made with penalties that do not have real commercial use.” “This is not a crashing event, but it is more efficient, and this is the task of the Treasury.”
The Americans have argued for common cents, which was criticizing Trump’s efforts, in a press statement in late January, that getting rid of a penny “would not provide government money.”
We are the pennies in an illustrative image of pictures in Washington, DC, February 10, 2025. (Saul Loeb / AFP via Getty Images / Getty Images)
“Several general costs of mint will remain, and other coins should be absorbed by without a penny,” said CEO Mark Wheeler. “Also, there will be more expensive nickel demand, which means more costs.”
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The group receives great funding from Artazn, according to CNN. This company is said to provide the voids used in the production of mint.
For the joint years, the Americans suggested “reconsidering how mint allocates its general costs and focus on reducing the cost of nickel production” instead of moving away from penalties.
Mint costs approximately 13.8 cents to produce Nickel last year, according to the agency.
The group also has I pushed back Against the arguments that Beni has no value, and he has argued the “approximation tax” resulting from the disposal of the one -c -category “that would affect incompatible” people without access to banking services or non -cash payment methods.