{
Caity Weaver

People

}
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001122334455554433221100

penny faces new challenges as cash usage declines and costs rise

The penny, long criticized for its lack of value, faces a new challenge as cash usage declines and production costs rise, with each penny costing 2.72 cents to mint. With 240 billion pennies weighing down the economy, calls for its abolition grow stronger, echoing sentiments that could soon apply to nickels and dimes as well. In a modern economy, these small denominations serve little purpose, prompting discussions about their future.
Axios
End Federal Reserve USD USA Caity Weaver Elon Musk
Finance & Economy, News Article
13:27 02.02.2025
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