Tiny Coins, Big Questions: Even the Cent Is Losing Value
α΄΅βΏ α΅αΆ¦α΅α΅Λ’ α΅αΆ αΆΛ‘αΆ¦α΅α΅α΅α΅ α΅α΅α΅Κ³α΅α΅βΏαΆΚΈ https://climateclock.world/ Some people pay dearly for things that aren't worth half a cent in reality. Maybe that's why they're getting rid of cents in the U.S. The cent is "getting away" or becoming less relevant in the United States. Here's how: The U.S. penny will be phased out, with the Treasury Department halting production in early 2026 due to high costs and low usage. Each penny costs 3.7 cents to produce, causing annual losses over $56 million for the U.S. Mint. Bipartisan lawmakers support the decision, and President Donald Trump ordered the Treasury to stop minting pennies in February 2025, calling it "wasteful." Cash transactions will round to the nearest five cents, while electronic payments remain precise. This aligns the U.S. with Canada, Australia, and New Zealand, which discontinued low-value coins. Major banks, including JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo, are developing...