Latest news with #Lincolns
New York Post
22-05-2025
- Business
- New York Post
Non-cents: US Mint moves to kill penny with production ending after final order
Everything is making less cents. The US Mint has placed its final order of penny blanks and will stop producing the coin when those run out by early next year — marking the beginning of the end for one of the oldest continually printed money pieces in America, a Treasury Department spokesperson confirmed Thursday. The decision follows President Trump's announcement in February that he had ordered the department to stop producing metal Lincolns due to their high production cost. 'Let's rip the waste out of our great nation's budget, even if it's a penny at a time,' Trump said at the time. Over the past 10 years, penny production costs have skyrocketed from 1.3 cents per coin to 3.69 cents — jumping 20% in fiscal year 2024 alone, the Mint said. Ending penny production is projected to lead to immediate annual savings of $56 million, with more expected from reduced facility usage and other changes as the coin is phased out. Once there are no longer enough pennies in circulation, businesses will have to start rounding consumer prices up or down to the nearest 5 cents — similar to what Canada did when it stopped producing its one-cent coin, according to the Wall Street Journal, which first reported the Treasury's move. 3 A press operator at the US Mint in Denver pours a load of freshly minted pennies into a container. Bloomberg via Getty Images 3 Pennies will no longer be produced once the Treasury's final order of blanks runs out. AFP via Getty Images 3 The Mint said that there will be $56 million saved immediately once penny production ends. Getty Images Despite the penny's loss in practical value, it remains the most widely printed coin in the US. The Mint reported making 3.2 billion of them just last year — more than half of all new coins produced. There are currently a whopping 114 billion pennies in circulation in the US, according to the agency. Two bipartisan bills to end penny production have been introduced in Congress so far this session. Sens. Mike Lee (R-Utah) and Jeff Merkley (D-Ore.) introduced the 'Make Sense Not Cents Act' on May 1. A day earlier, Reps. Lisa McClain (R-Mich.) and Robert Garcia (D-Calif.), along with Sens. Cynthia Lummis (R-Wyo.) and Kirsten Gillibrand (D-NY), filed the 'Common Cents Act.' The penny was among the first coins produced once the US Mint was established in 1792. Since then, it has undergone several changes in design, sign and metallic composition — going from pure copper to a blend of zinc and copper. Abraham Lincoln's face was first molded onto the coin in 1909 to commemorate the 16th president's 100th birthday. With Post Wires
Yahoo
07-04-2025
- Automotive
- Yahoo
View Interior Photos of the 2025 Lincoln Corsair Grand Touring
Read the full review The Lincoln Corsair Grand Touring is not just the plug-in-hybrid variant, but it's also the top trim level in the lineup. The Corsair Grand Touring interior is shown here in two-tone Ebony and Medium Smoked Truffle. These are the 24-way power Perfect Position seats, a $1285 option. Unlike some new Lincolns, the Corsair does not have a dash-spanning display. A 12.3-inch digital instrument cluster is standard. The central touchscreen is 13.2 inches. Continue scrolling to see more pictures of the 2025 Lincoln Corsair Grand Touring interior. You Might Also Like Car and Driver's 10 Best Cars through the Decades How to Buy or Lease a New Car Lightning Lap Legends: Chevrolet Camaro vs. Ford Mustang!
