{"id":883,"date":"2025-05-25T11:27:00","date_gmt":"2025-05-25T11:27:00","guid":{"rendered":"https:\/\/alaskanativeowned.com\/?p=883"},"modified":"2025-05-28T20:28:43","modified_gmt":"2025-05-28T20:28:43","slug":"wasteful-pennies-scrapped-in-us-could-it-happen-to-uks-1p-too","status":"publish","type":"post","link":"https:\/\/alaskanativeowned.com\/index.php\/2025\/05\/25\/wasteful-pennies-scrapped-in-us-could-it-happen-to-uks-1p-too\/","title":{"rendered":"\u2018Wasteful\u2019 pennies scrapped in US \u2013 could it happen to UK\u2019s 1p too?"},"content":{"rendered":"<figure class=\"img-container shareable-item wp-caption\">\n<div class=\"img-wrap\">\n\t\t<img width=\"646\" height=\"431\" src=\"https:\/\/alaskanativeowned.com\/wp-content\/uploads\/2025\/05\/SEI_253061220-f9f4.jpg\" class=\"article-image wp-image-23242691\" alt=\"Pennies coins money; Shutterstock ID 1295514442; purchase_order: -; job: -; client: -; other: -\" loading=\"lazy\" \/>\t<\/div><figcaption>The American one-cent coin is to become a thing of the past (Picture: Shutterstock\/Brandon Pack)<\/figcaption><\/figure>\n<div class=\"metro-article-audio-player\" data-vars-type=\"article-audio-player\">\n<div class=\"metro-article-audio-player-play-row\">\n\t\t\t\t<button class=\"metro-article-audio-player-play-button\"><br \/>\n\t\t\t\t\t<title>Listen to article<\/title>\t\t\t\t\t<span>Listen to article<\/span><br \/>\n\t\t\t\t<\/button><\/p>\n<div class=\"img-container\"><img class=\"sponsor-image\" src=\"https:\/\/metro.co.uk\/wp-content\/themes\/metro\/includes\/site-blocks\/article-audio\/assets\/powered-by.png\" alt=\"Powered by\" data-rewritten=\"false\" \/><\/div>\n<\/p><\/div>\n<div class=\"audio-controls hidden\">\n\t\t\t\t<audio class=\"audio-element\" src=\"https:\/\/metro.co.uk\/wp-content\/uploads\/2025\/05\/pennies-1317.mp3\" controls id=\"audio-683771f40d2ef\">\t\t\t<\/p>\n<p>\t\t\t\t\tYour browser does not support the audio element.<br \/>\n\t\t\t\t<\/audio>\n\t\t\t<\/div>\n<\/p><\/div>\n<p>One cent coins are to be consigned to American history, after the cost of making them became more than they were worth as currency.<\/p>\n<p>Production of the 232-year-old loose change will cease next year, the Treasury Department has confirmed. &nbsp;<\/p>\n<p>The coins, commonly known as pennies, were called \u2018wasteful\u2019 by <a data-track=\"inline-tag-auto-link_article\" href=\"https:\/\/metro.co.uk\/tag\/donald-trump\/\">Donald Trump<\/a> in February when he told Treasury Secretary Scott Bessent to stop minting them. &nbsp;<\/p>\n<p><a href=\"https:\/\/metro.co.uk\/tag\/elon-musk\/\" data-track=\"inline-tag-auto-link_article\">Elon Musk<\/a>\u2019s unofficial Department of <a href=\"https:\/\/metro.co.uk\/tag\/british-government\/\" data-track=\"inline-tag-auto-link_article\">Government<\/a> Efficiency (Doge) has also highlighted the cost of producing the shrapnel. &nbsp;<\/p>\n<p>The bill has risen&nbsp;from 1.3 cents to 3.69 cents per coin over the past decade, according to the Treasury.&nbsp;<\/p>\n<p>The death knell for the coin follows other countries ditching similar currency in an increasingly<a href=\"https:\/\/metro.co.uk\/?page_id=23242761&amp;preview_id=23242761\" data-type=\"page\" data-id=\"23242761\"> cashless world. <\/a><\/p>\n<figure class=\"img-container shareable-item wp-caption\">\n<div class=\"img-wrap\">\n\t\t<img width=\"646\" height=\"431\" src=\"https:\/\/alaskanativeowned.com\/wp-content\/uploads\/2025\/05\/SEI_253061218-8531.jpg\" class=\"article-image wp-image-23242692\" alt=\"Close-up of a heap of US pennies\" loading=\"lazy\" \/>\t<\/div><figcaption>US pennies have reduced use in the age of cashless payments (Picture: Getty Images)<\/figcaption><\/figure>\n<p>In 2012, Canada ended its one-cent coin, citing the minting costs and its falling purchasing power due to higher prices.&nbsp;<\/p>\n<div class=\"video-player\">\n<div class=\"metro-video-player \" data-track-module=\"video-player\">\n<div class=\"vjs-video-container vjs-fixed vjs-responsive\">\n\t\t\t\t\t\t\t\t\t\t{&#8220;@context&#8221;:&#8221;https:\/\/schema.org&#8221;,&#8221;@type&#8221;:&#8221;VideoObject&#8221;,&#8221;name&#8221;:&#8221;Metro.co.uk&#8221;,&#8221;duration&#8221;:&#8221;T30S&#8221;,&#8221;thumbnailUrl&#8221;:&#8221;https:\/\/i.dailymail.co.uk\/1s\/2025\/05\/19\/16\/98535393-0-image-a-3_1747669105214.jpg&#8221;,&#8221;uploadDate&#8221;:&#8221;2025-05-19T16:09:35+0100&#8243;,&#8221;description&#8221;:&#8221;Deadlines move fast. So do you &#8211; with the Samsung Galaxy S25 Ultra on Vodafone Business&#8217; powerful network&#8221;,&#8221;contentUrl&#8221;:&#8221;https:\/\/videos.metro.co.uk\/video\/met\/2025\/05\/19\/1760175980206013783\/480x270_MP4_1760175980206013783.mp4&#8243;,&#8221;height&#8221;:270,&#8221;width&#8221;:480}<\/p>\n<p>\t\t\t\t\t<video id=\"3439011\" class=\"video-js\" poster=\"https:\/\/i.dailymail.co.uk\/1s\/2025\/05\/19\/16\/98535393-0-image-a-1_1747669102260.jpg\" data-opts=\"{&quot;controls&quot;:true,&quot;preload&quot;:&quot;metadata&quot;,&quot;autoplay&quot;:false,&quot;videoId&quot;:3439011,&quot;duration&quot;:30,&quot;pageURL&quot;:&quot;The-power-AI-small-business&quot;,&quot;title&quot;:&quot;The power of AI for small business&quot;,&quot;previewText&quot;:&quot;Deadlines move fast. 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class=\"metro-related-video-carousel__related-video-placeholder-headline\">\n\t\t\t\t\t\t\t\t<span><\/span><br \/>\n\t\t\t\t\t\t\t\t<span><\/span><br \/>\n\t\t\t\t\t\t\t\t<span><\/span><br \/>\n\t\t\t\t\t\t\t\t<span><\/span>\n\t\t\t\t\t\t\t<\/div>\n<\/p><\/div>\n<div class=\"metro-related-video-carousel__related-video-placeholder\">\n<div class=\"metro-related-video-carousel__related-video-placeholder-thumbnail\">\n\t\t\t\t\t\t\t<\/div>\n<div class=\"metro-related-video-carousel__related-video-placeholder-headline\">\n\t\t\t\t\t\t\t\t<span><\/span><br \/>\n\t\t\t\t\t\t\t\t<span><\/span><br \/>\n\t\t\t\t\t\t\t\t<span><\/span><br \/>\n\t\t\t\t\t\t\t\t<span><\/span>\n\t\t\t\t\t\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>\t\t\twindow.addEventListener(&#8216;metroVideo:relatedVideosCarouselLoaded&#8217;, function(data) {<br \/>\n\t\t\t\tif (typeof(data.detail) === &#8216;undefined&#8217; || typeof(data.detail.carousel) === &#8216;undefined&#8217; || typeof(data.detail.carousel.el_) === &#8216;undefined&#8217;) {<br \/>\n\t\t\t\t\treturn;<br \/>\n\t\t\t\t}<br \/>\n\t\t\t\tvar player = data.detail.carousel.el_;<br \/>\n\t\t\t\tvar container = player.closest(&#8216;.metro-video-player&#8217;);<br \/>\n\t\t\t\tvar placeholder = container.querySelector(&#8216;.metro-video-player__up-next-placeholder&#8217;);<br \/>\n\t\t\t\tcontainer.removeChild(placeholder);<br \/>\n\t\t\t\tcontainer.classList.add(&#8216;metro-video-player&#8211;related-videos-loaded&#8217;);<br \/>\n\t\t\t});<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>The UK did not mint any new coins last year after officials said there were already enough in circulation amid the declining use of cash. &nbsp;<\/p>\n<p>One and 2p coins are not being scrapped but there have been several years when no 2p coins were produced, the Treasury said. &nbsp;<\/p>\n<p>Discussions of scrapping the UK&#8217;s pennies <a href=\"https:\/\/metro.co.uk\/2013\/01\/31\/a-penny-for-your-thoughts-should-we-scrap-the-1p-piece-3374850\/\">have been going on for years<\/a>, although not with the same urgency as across the pond. <\/p>\n<p>In 2019, there was speculation that the Treasury may be <a href=\"https:\/\/metro.co.uk\/2019\/05\/03\/1p-2p-coins-safe-now-plans-scrap-abandoned-9395523\/\">paving the way for the end of 1p and 2p coins<\/a> after inviting comments on the mix of coins in circulation.<\/p>\n<p>But the idea wasn&#8217;t too popular, with the Federation of Small Businesses (FSB) national chairman Mike Cherry saying at the time: \u2018Keeping 1p and 2p coins in circulation is the right call. The freedom to use pennies is still important to a lot of small firms.<\/p>\n<p>\u2018For many, being able to charge prices that end in 99p rather than a round pound figure can be enough to tip intrigue into a sale, particularly where lower-value items are concerned.\u2019<\/p>\n<p>The US move brings to an end a story which began in 1793 when the penny was one of the first coins to be made by the Mint.&nbsp;<\/p>\n<p>A woman with flowing hair symbolising liberty featured on the initial 60 years of the design.&nbsp;<\/p>\n<p>Ceasing production is predicted to deliver an immediate annual saving of $56m (\u00a342m) in reduced material costs, according to the US Mint. &nbsp;<\/p>\n<p class=\"metro-more-link\"><title>Arrow<\/title><span class=\"mor-link\" data-track-module=\"mor-link_article\">MORE: <a href=\"https:\/\/metro.co.uk\/2022\/03\/07\/britain-is-becoming-a-cashless-society-but-what-are-the-drawbacks-16227604\/?ico=more_text_links\" class=\"\">Britain is becoming a cashless society \u2013 but what are the pros and cons?<\/a><\/span><\/p>\n<p class=\"metro-more-link\"><title>Arrow<\/title><span class=\"mor-link\" data-track-module=\"mor-link_article\">MORE: <a href=\"https:\/\/metro.co.uk\/2024\/04\/08\/entire-island-going-completely-cashless-a-mistake-20607855\/?ico=more_text_links\" class=\"\">An entire island is going cashless \u2013 is it a mistake?<\/a><\/span><\/p>\n<p class=\"metro-more-link\"><title>Arrow<\/title><span class=\"mor-link\" data-track-module=\"mor-link_article\">MORE: <a href=\"https:\/\/metro.co.uk\/2025\/05\/01\/cash-king-uk-shoppers-fume-businesses-accept-card-payment-23006471\/?ico=more_text_links\" class=\"\">\u2018Cash is king\u2019: UK shoppers fume over businesses that only accept card payment<\/a><\/span><\/p>\n<p><strong>Got a story? Get in touch with our news team by emailing us at&nbsp;<a href=\"mailto:webnews@metro.co.uk\">webnews@metro.co.uk<\/a>.<\/strong>&nbsp;<strong>Or you can submit your videos and pictures&nbsp;<a href=\"https:\/\/metro.co.uk\/submit-stuff\/\">here<\/a>.<\/strong><\/p>\n<p><strong>For more stories like this, check our<\/strong><a href=\"https:\/\/metro.co.uk\/news\/\"><strong>&nbsp;news page<\/strong><\/a><strong>.<\/strong><\/p>\n<p><strong>Follow Metro.co.uk on&nbsp;<a href=\"https:\/\/twitter.com\/MetroUK\">Twitter<\/a>&nbsp;and&nbsp;<a href=\"https:\/\/www.facebook.com\/MetroUK\">Facebook<\/a>&nbsp;for the latest news updates.<\/strong>&nbsp;<strong>You can now also get Metro.co.uk articles sent straight to your device. Sign up for our daily push alerts&nbsp;<a href=\"https:\/\/metro.co.uk\/how-to-subscribe-to-metro-news-notifications\/\">here<\/a>.<\/strong><\/p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The American one-cent coin is to become a thing of the past (Picture: Shutterstock\/Brandon Pack) Listen to article Listen to article Your browser does not support the audio element. One cent coins are to be consigned to American history, after the cost of making them became more than they were worth as currency. Production of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":885,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[10],"tags":[],"_links":{"self":[{"href":"https:\/\/alaskanativeowned.com\/index.php\/wp-json\/wp\/v2\/posts\/883"}],"collection":[{"href":"https:\/\/alaskanativeowned.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alaskanativeowned.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alaskanativeowned.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/alaskanativeowned.com\/index.php\/wp-json\/wp\/v2\/comments?post=883"}],"version-history":[{"count":3,"href":"https:\/\/alaskanativeowned.com\/index.php\/wp-json\/wp\/v2\/posts\/883\/revisions"}],"predecessor-version":[{"id":888,"href":"https:\/\/alaskanativeowned.com\/index.php\/wp-json\/wp\/v2\/posts\/883\/revisions\/888"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alaskanativeowned.com\/index.php\/wp-json\/wp\/v2\/media\/885"}],"wp:attachment":[{"href":"https:\/\/alaskanativeowned.com\/index.php\/wp-json\/wp\/v2\/media?parent=883"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alaskanativeowned.com\/index.php\/wp-json\/wp\/v2\/categories?post=883"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alaskanativeowned.com\/index.php\/wp-json\/wp\/v2\/tags?post=883"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}