Wednesday, 12 November 2025

negative seigniorage (12. 876)

The Philadelphia Mint struck its last batch of pennies today after issuing the one cent coins continually since 1793 after Trump declared them retired earlier in the year, with some four times the face value going into the smallest denomination. Although retailers and speciests had been advocating for its cancellation for decades, the abrupt execution has left cashiers frustrated with many rounding down to avoid short-changing as supplies begin to dwindle for the legal tender for all debts public and private, and some ironically offering a premium for paying with a sweaty palm of coins to hold in reserve.