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Stock impact report

Donald Trump's penny proposal would eliminate 1 in 2 coins minted in the U.S.—but nickels are the real villains [Fortune]

Newell Brands Inc. (NWL) 
Last newell brands inc. earnings: 5/1 07:30 am Check Earnings Report
Company Research Source: Fortune
Nickels are even more wasteful, though, costing 13 cents each to produce—and eliminating pennies could push up demand for five-cent pieces. Trump joins a long list of names who have tried to eliminate the penny—a list that includes Obama Treasury Secretary Jack Lew, comedian John Oliver , various members of Congress and plenty of other developed nations that have successfully killed theirs. The U.S. has lost money producing pennies for nearly two decades. We've stubbornly continued to issue out one-cent pieces even as our peer nations have let theirs fall by the wayside: Canada killed off its penny in 2012, while Australia and New Zealand stopped producing pennies in the early 1990s. The cost of producing a penny has ballooned over the past two decades. For the last 19 years, according to the U.S. Mint, the nation has spent more to mint pennies than it receives back in face value. Currently, each penny costs about 3.69 cents to produce and distribute; last year , the U.S. lost $ Show less Read more
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