President Donald Trump says he has directed the Treasury Department to stop minting new pennies, citing the rising cost of producing the one-cent coin.
This isn’t true. Defacing money for the purpose of fraud or to melt coins for their metal value is illegal but creating elongated coins is not.
Elongated Coin Legality
Oh, interesting, you’re correct. I didn’t realize ‘intent to fraud’ was one of the requirements for it to be a felony. I saw one of the machines that uses the metal slugs and assumed they were all switching over because of that.
What will happen ta all the penny smashing tourist machines.
Those were alteady technically illegal because defacing money (even a penny) is a felony.Edit: see below commentA bunch of them have already swapped out to use penny-sized metal blanks instead.
This isn’t true. Defacing money for the purpose of fraud or to melt coins for their metal value is illegal but creating elongated coins is not. Elongated Coin Legality
Oh, interesting, you’re correct. I didn’t realize ‘intent to fraud’ was one of the requirements for it to be a felony. I saw one of the machines that uses the metal slugs and assumed they were all switching over because of that.