Trump aims to “waste” consumption by ordering the end of Penny production

President Donald Trump He ordered stopping the production of new coins, which he said would help reduce “wasteful” state spending.

“For too long, the United States forged money, which literally cost us more than 2 cents,” Trump said in the social place of truth. “This is so scattered! I ordered my US Treasury Secretary to stop producing new little things. Let’s deliver the waste from the budget of our great nations, even if it is at the same time,” Trump wrote.

It is not clear whether the chairman has the authority to stop the production of a 1 percent coin. According to Now the constitutionThe power of the cart, as the Supreme Court acknowledged, is “exclusive” to the Congress. Federal law says that the Minister of Finance can forge and issue coins as needed for the needs of the United States.

But at least one Wall Street analyst expects Penny’s Days to be numbered. Jaret Seiberg TD Cowen said the stop is likely to undergo a judicial examination, which led to a lack of coin.

“We believe that this command would survive a judicial review, which is why this is likely to happen,” Seiberg wrote on Monday. “We are worried about what this will lead to a lack of Penya, which could make the merchants pay more for coins. This also adds a legal risk to traders and banks. This could create the crisis needed to force the Congress to act.”

Seiberg said he expected that could support the move toward electronic payments, strengthening companies like Visa,, MasterCard and other real -time payments.

What is clear is that money cost more than they are worth. 2024. The US mint spent 3.69 cents to produce each pen annual report. This meant that the cost of each pencil crossed over his face for the 19th straight fiscal year.

The latest report in the United States -in suggests that the nickel looks better at the back. Each piece of 5 percent costs mint 13.78 cents to make.