Afət Ziyadqızı
The production of the United States’ smallest denomination has been halted after costs remained above the coin’s face value for an extended period and cash use in retail payments declined.
Operative Information Center-OMM reports that although banks and businesses continue to accept coins already in circulation, the decision has begun the gradual removal from the market of pennies, first minted in 1793 and now a symbol of everyday life in the United States.
Images published by the US media showed the discontinued one-cent coins on display.
Experts say ending production of the one-cent coin will save the US Mint millions of dollars annually. The move is also expected to reduce the time required to process transactions at commercial cash registers.
