The US Treasury Department has decided to halt the production of pennies, ending a run that has lasted for more than 230 years. The decision, announced on Friday, comes as a result of the rising cost of producing the one-cent coin, which has exceeded its monetary value.
The Treasury Department, which oversees the production of coins in the United States, stated that it costs 1.99 cents to produce each penny, making it economically unviable. This has led to calls for phasing out the coin in recent years, with proponents arguing that the penny has become obsolete in today’s cashless society.
On the other hand, opponents of discontinuing the penny argue that it holds sentimental value for many Americans and plays a symbolic role in the country’s currency system. Some groups have also raised concerns about the potential impact on prices if retailers round up to the nearest nickel in a penny-less system.
Despite the decision to halt penny production, the Treasury Department clarified that the coin will remain legal tender, and existing pennies will continue to be used in transactions. The department will also explore alternative metals to reduce the production cost of pennies in the future.
The move to end penny production marks a significant shift in US currency circulation and raises questions about the future of physical money in an increasingly digital payment landscape. The decision is expected to go into effect in the coming months, as the Treasury Department winds down production at the US Mint facilities.
Overall, the decision reflects the government’s practical approach to managing currency production and aligning it with modern economic realities.
Sources Analysis:
Treasury Department – The Treasury Department is a directly involved party in this situation, with the goal of managing coin production efficiently and aligning costs with the value of currency.
Advocacy groups for and against penny discontinuation – These groups may have biases based on their interests, such as economic efficiency or preserving tradition, which could influence their positions on the penny issue.
Fact Check:
Cost of producing a penny – Verified fact, based on official statements from the Treasury Department.
Discussion on the symbolic value of the penny – Unconfirmed claims, as the impact of sentimentality on currency decisions is subjective and varies among individuals and groups.
—
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.