(10 Feb 2025)
RESTRICTION SUMMARY:
ASSOCIATED PRESS
New York – 10 February 2025
1. Front of penny
2. Back of penny
3. Pennies falling into pile
4. Penny tube containers
5. Food truck owner Rosa Guaman speaking to customer
6. Guaman preparing sale
7. SOUNDBITE (English) Rosa Guaman, food truck owner:
“It’s necessary we need change for work: quarters, pennies, everything. If they stop doing, it’s no good for me”
8. Sunglass cord for sale in the shop Sarwar Kamal manages
9. Chapstick for sale in the shop Sarwar Kamal manages
10. Kamal handling money with customer
11. Kamal opening cash register
12. SOUNDBITE (English) Sarwar Kamal, shop manager:
“If there are no tax then we could have priced our goods at let’s say 1.05 or 1.10 or 1.25. But since there are tax we have to include, most of the price usually winds up with less than 1.06, or 1.07 and then we have to deal with the pennies. How we will do that? We don’t know yet.”
13. A hand picks pennies out of a canister
14. Pennies in palm of hand
15. Pennies in pile
STORYLINE:
President Donald Trump says he has directed the Treasury Department to stop minting new pennies, citing the rising cost of producing the one-cent coin.
Trump wrote in a post Sunday night on his Truth Social site: “For far too long the United States has minted pennies which literally cost us more than 2 cents.
This is so wasteful!” He added: “I have instructed my Secretary of the US Treasury to stop producing new pennies.”
The move by Trump is the latest in what has been a rapid-fire effort by his new administration to enact sweeping change through executive order and proclamation.
It is unclear whether Trump has the power to unilaterally eliminate the one-cent coin.
Currency specifications — including the size and metal content of coins — are dictated by Congress.
But the move could make challenges for business owners and employees national wide.
“It’s necessary we need change for work: quarters, pennies, everything. If they stop doing, it’s no good for me," said Rosa Guaman, a food cart owner in New York.
And Sarwar Kamal, a shop manager, says that taxes are what make the pennies necessary.
"Since there are tax we have to include, most of the price usually winds up with less than 1.06, or 1.07 and then we have to deal with the pennies. How we will do that? We don’t know yet," Kamal said.
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