Farewell to pennies, Trump removes the first American currency
In his hunt for "savings," nothing escapes US President Donald Trump.
Despite being busy on all fronts – from the 'invasion' of Greenland and Canada to peace in Ukraine and Gaza – the president leaves no stone unturned.
The president is targeting the penny, the first currency of the United States of America, born with the dollar in 1793.
The tycoon has ordered the Treasury to stop its production, because it is "waste": in fact, it is worth less than it costs to mint.
"Let's get rid of the trash, even if it's a penny at a time," Trump wrote on his social media account Truth.
It is unclear whether the president has the power to impose a production ban: it is Congress, not the Treasury or the Fed, that authorizes the minting of coins, ANSA reports.
But Trump is right that pennies cost more than they're worth, and experts have been calling for their elimination for years.
Last year, the production and distribution of a penny cost 3,69 cents: this means that, considering their value, for every penny there is a loss of 2,69 cents.
