Fed shares FAQ on penny production

The Federal Reserve has shared an FAQ document about what the end of penny production will mean for ordering and depositing pennies as coin production and distribution comes to an end.

President Trump instructed the Treasury Department to discontinue the production of pennies, stating that the coin is a waste of resources since it costs nearly four cents to make one penny. An FAQ has been released, outlining the locations that will no longer fulfill penny orders and detailing the process the Federal Reserve will use to handle future orders and deposits.