The US will give up one cent coins / day

The US Ministry of Finance said that the cost of making one cent coins has increased significantly recently and increased by 20%last year.

Estimates indicate that the smallest rated coin production will immediately save $ 56 million ($ 49.5 million) in the cost of material, an official of the Ministry of Finance who wanted to remain anonymous because it was not authorized to talk to the media.

The cost of making one penny is approaching four cents. Supporters of the idea give up the cent coins that the costs are high, but small nominal coins are relatively rare. Penny, on the other hand, is convinced that the coin is useful in collecting charity donations, and the cost of a five -dollar coin is even higher and reaches almost 14 cents.

Currently, the US has around 114 billion one cent coin.

One cent coin was one of the first to be made by the US money after its foundation in 1792. The data show that last year the mint made 3.2 billion one cent coins, which is more than half of all coins made last year.

The congress, which defines the US currency specification, such as size and metals, has not previously been able to strengthen the refusal of one cent coin in law, but this year two bills have been submitted for consideration, together with representatives of both parties, to end the pennies.

Experts point out that when Congress decides to give up one cent coins, it is up to the requirement to round the price, which would mean that there would be no demand for small nominal coins.

The eurozone is also discussed on the usefulness of small nominal coins and the proportionality of costs. As of January 1, the purchase amount has been introduced in Estonia, if paid in cash, while in Lithuania, such a rule entered into force this month. Similar rules are in several other eurozone countries to reduce small nominal coins.