Arya News - The US Treasury Department has decided to stop minting one-cent coins due to the high cost of their production, CNN reported, citing a statement from the department.
The government placed its last order of penny blanks in May, the report said on Thursday, adding that the US Mint will produce pennies until their stocks are exhausted. The decision to abandon the penny was reportedly expected - the cost of the coin exceeded its face value. Back in February, US President Donald Trump said he had ordered their production to be stopped due to costs.