PHILADELPHIA (AP) — The U.S. Mint in Philadelphia is set to strike its last circulating penny on Wednesday as the president has canceled the 1-cent coin.
President Donald Trump has ordered its demise as costs climb to nearly 4 cents per penny and the 1-cent valuation becomes somewhat obsolete.
The U.S. Mint has been making pennies in Philadelphia, the nation’s birthplace, since 1793, a year after Congress passed the Coinage Act. Today, there are billions of them in circulation, but they are rarely essential for financial transactions in the modern economy or the…
