NEW YORK, May 22. /TASS/. The US Treasury will stop making one-cent coins after more than two centuries of minting, The Wall Street Journal (WSJ) reports.
Their minting is expected to be halted early next year. According to the newspaper, making the penny costs four cents, so it will be taken out of circulation as a cost-saving measure. The decision will make it possible to save $56 mln annually on material costs.
Retailers will be asked to round prices up or down to the nearest five cents. However, the coin will still be valid in cash payments.
One-cent coins were first minted in the US in 1793.