Richmond, wow.
President Donald Trump Announced On Sunday, it ordered its administration to stop the production of 1 % of the coin, which is far from its main location.
Advocates for digging Penny refer to its high production cost. American mint – And limited utility. Penny’s fans refer to relative bargaining in charity drives in charity drives compared to nickel, which costs about 14 cents from the mint.
Trump’s amazing order has come after a decades of failed attempts to raise money.
“Only the tradition only explains the money associated with our stubbornness. But sometimes the traditions are ridiculous.
Take a look at some questions about Trump’s order.
Can Trump really order Treasury to stop grinding money without Congress approval?
Yes, according to Legal Scholar Lawrence H Trib, Professor of Constitutional Emirates at Harvard University.
The US Code gives the Treasury secretary the authority to issue mint and coins “The secretary has decided that the needs of the United States must be met.”
The tribe said that if the Treasury Secretary Scott Basant has decided that the money required for money is zero, it is in its legal rights.
“Unlike the new administration of executive orders from January 20, many of what is doing, this action seems to me completely lawful and completely constitutional.” Offensive Executive Action Since taking office, Trump has seized other issues.
The Congress, which orders currency specifications such as coin size and metal content, can make Trump’s order permanent by law. But the past Congress efforts to dig Penny failed.
Penny is mostly made of zinc, and the American zinc lobby has been an important opponent of these proposals to withdraw money.
How many money are in circulation?
It depends on what you mean by rotation.
Penny is the most famous coin manufactured by US mint, which reported earn 3.2 billion of them last year. This is more than half of all the new coins last year.
MIT professor Jeff Gore, who set up citizens to retire money, said that the coins will be circulating for about 30 years and that in the last three decades, US mint has made about 250 250 billion. Is
But, they say, “Because no one wants to use money, they go out of the dynamic rotation very fast than other coins.”
If the Penny sits in the drawer for a decade, Gore asked, “Is he eligible to stay in circulation?”
Will Americans lose money?
Experience number in other countries shows.
Canada had withdrawn its money a dozen years ago and urged the store owners to make prices to the nearest for cash transactions. Electronic purchases were still the nearest cents. The move comes after New Zealand, Australia, the Netherlands, and the lowest coins.
After leaving money or equal, these countries did not look back.
What comes forward?
Trump’s ruling, which he announced in a social media post when he was leaving New Orleans after seeing the first half of the super bowl, was the latest in his administration’s rapid efforts to reduce government spending. –
Trump wrote in his position, “Let’s cut the garbage from the budget of our great nation, even if it is a penny at a time.”
According to a 2022 report by the Canadian mint, Canada stopped with new money, it began recycling their “precious” copper and zinc.
