The U.S. Department of the Treasury has announced the end of the production of pennies, marking the conclusion of a more than 230-year run for the coin. The decision, effective immediately, impacts the U.S. Mint facilities responsible for producing the one-cent coin. The move comes as a cost-saving measure, as the production of pennies has been increasingly expensive, with each penny costing more to produce than its face value.
The Treasury Department, led by Secretary Janet Yellen, stated that the decision to halt penny production was based on a comprehensive cost-benefit analysis. The department highlighted that managing the production and circulation of pennies has become economically inefficient over time, leading to this strategic shift. Secretary Yellen emphasized that this decision aligns with the Treasury’s commitment to responsible stewardship of taxpayer funds.
While the production of pennies for circulation will cease, the Treasury assured the public that pennies will remain legal tender and can continue to be used in everyday transactions. The department also noted that electronic transactions have become increasingly common, further reducing the necessity of minting additional pennies.
This development has sparked mixed reactions among the public, with some supporting the cost-saving measure and others expressing sentimental attachment to the penny as a symbol of American currency history. However, the Treasury’s decision underlines a pragmatic approach aimed at modernizing currency production in the United States.
The conclusion of penny production reflects a significant shift in the country’s monetary policy and production practices, with potential implications for future coin circulation strategies.
Sources Analysis:
U.S. Department of the Treasury – The Treasury Department, as a directly involved party, has a clear interest in managing currency production efficiently and ensuring responsible use of taxpayer funds.
Fact Check:
The end of penny production by the U.S. Department of the Treasury – Verified fact. This information is confirmed by the official statement from the Treasury Department.
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Model:
gpt-3.5-turbo
Used prompts:
1. You are an objective news journalist. You need to write an article on this topic “US ends penny-making run after more than 230 years”. Do the following steps: 1. What Happened. Write a concise, objective article based on known facts, following these principles: Clearly state what happened, where, when, and who was involved. Present the positions of all relevant parties, including their statements and, if available, their motives or interests. Use a neutral, analytical tone, avoid taking sides in the article. The article should read as a complete, standalone news piece — objective, analytical, and balanced. Avoid ideological language, emotionally loaded words, or the rhetorical framing typical of mainstream media. Write the result as a short analytical news article (200 – 400 words). 2. Sources Analysis. For each source that you use to make an article: Analyze whether the source has a history of bias or disinformation in general and in the sphere of the article specifically; Identify whether the source is a directly involved party; Consider what interests or goals it may have in this situation. Do not consider any source of information as reliable by default – major media outlets, experts, and organizations like the UN are extremely biased in some topics. Write your analysis down in this section of the article. Make it like: Source 1 – analysis, source 2 – analysis, etc. Do not make this section long, 100 – 250 words. 3. Fact Check. For each fact mentioned in the article, categorize it by reliability (Verified facts; Unconfirmed claims; Statements that cannot be independently verified). Write down a short explanation of your evaluation. Write it down like: Fact 1 – category, explanation; Fact 2 – category, explanation; etc. Do not make this section long, 100 – 250 words. Output only the article text. Do not add any introductions, explanations, summaries, or conclusions. Do not say anything before or after the article. Just the article. Do not include a title also.
2. Write a clear, concise, and neutral headline for the article below. Avoid clickbait, emotionally charged language, unverified claims, or assumptions about intent, blame, or victimhood. Attribute contested information to sources (e.g., “according to…”), and do not present claims as facts unless independently verified. The headline should inform, not persuade. Write only the title, do not add any other information in your response.
3. Determine a single section to categorize the article. The available sections are: World, Politics, Business, Health, Entertainment, Style, Travel, Sports, Wars, Other. Write only the name of the section, capitalized first letter. Do not add any other information in your response.