Key Metrics
12.66
Heat Index-
Impact LevelMedium
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Scope LevelNational
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Last Update2025-11-10
Key Impacts
Positive Impacts (2)
Negative Impacts (4)
Event Overview
The decision to halt penny production due to high costs highlights the economic implications of monetary policy. It affects financial institutions and retailers, leading to adjustments in cash handling and transaction policies. The move underscores the broader economic dynamics and the challenges of managing currency in a cost-effective manner.
Collect Records
President Trump Halts Penny Production, Impacting Retailers and Financial Institutions
President Donald Trump has announced a decision to halt penny production due to high costs. The US Mint spent 3.7 cents to produce a penny in 2024. This decision is affecting the economy, with financial institutions in Wisconsin adjusting their policies regarding pennies. Major chains, including McDonald's in Florida, are discontinuing exact change requirements and rounding cash transactions to the nearest nickel. Retailers nationwide are facing the challenge of penny scarcity and are working on long-term solutions and seeking federal guidance. Fort Walton, Florida, has implemented a policy effective November 1st, where cash payments for utility bills will be rounded to the nearest nickel, with any difference credited or absorbed in the next bill.