US Mint

Democrats Move to Block Trump’s Proposed $1 Coin

In other news, a group of Senate Democrats has introduced the “Change Corruption Act,” a bill aiming to prevent the government from minting coins featuring a living president, specifically targeting a planned commemorative coin featuring Donald Trump. The bill, introduced by Senators Merkley and Cortez Masto, directly challenges the U.S. Mint’s plans to create $1 coins with Trump’s likeness in honor of America’s 250th anniversary. However, the bill faces significant obstacles given the current political landscape. It is also important to note that if this coin is minted, it wouldn’t be the first time a sitting American president has had his face on American currency.

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Treasury to Phase Out Penny: A Cost-Saving Move with Price-Rounding Implications

The Treasury Department plans to cease penny production, ending the minting of this historic coin due to escalating production costs. Currently, manufacturing and distribution of a single penny costs approximately 3.7 cents, resulting in significant annual losses for the U.S. Mint. Eliminating penny production is projected to save roughly $56 million annually. This decision follows previous administrations’ considerations of the same issue, driven by the increasing expense of zinc, the penny’s primary metal component.

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