Penny production going away
Penny production going away
- June 4, 2025
- Bill Maurer, anthropology, Spectrum News 1, June 4, 2024 (Video)
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A 2022 survey found that 20% of consumers never even use cash. And now, here in 2025, President Trump is ordering the Treasury to stop minting pennies due to production costs. Here to discuss the end of pennies and its impact is Bill Maurer, dean of the School of Social Sciences at UC Irvine. … “My reaction, in general, is that this is a kind of ‘proceed with caution’ matter because you just said that about 20% of Americans never pay with cash, but then there’s about 18% of Americans who always pay with cash, and if this is the beginning of a step toward eliminating other coins or bank notes, that’s really going to put a squeeze on people who live in a cash economy,” says Maurer.
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