(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 cart owner Rosa Guaman speaking to customer
6. Guaman preparing sale
7. SOUNDBITE (English) Rosa Guaman, Food cart 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
++PARTIALLY COVERED++
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 US TREASURY DEPARTMENT TO STOP MINTING NEW PENNIES, CITING THE RISING COST OF PRODUCING THE ONE-CENT COIN.
THE U.S. MINT REPORTED LOSING $85.3 MILLION IN THE 2024 FISCAL YEAR ON THE NEARLY 3.2 BILLION PENNIES IT PRODUCED.
BUT DOING AWAY WITH THE PENNY COULD POSE CHALLENGES FOR BUSINESS OWNERS AND EMPLOYEES NATIONWIDE.
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”
SOUNDBITE (English) Sarwar Kamal, Shop manger:
“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.”
IT IS UNCLEAR WHETHER TRUMP HAS THE POWER TO UNILATERALLY ELIMINATE THE LOWLY ONE-CENT COIN.
CURRENCY SPECIFICATIONS — INCLUDING THE SIZE AND METAL CONTENT OF COINS — ARE DICTATED BY CONGRESS.
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