Associated Press
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.
“For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful!” Trump wrote in a post Sunday night on his Truth Social site. “I have instructed my Secretary of the US Treasury to stop producing new pennies.” More
Uh oh, now people will start hoarding pennies to make them rare and valuable…
S\
This would be fine, but it means they will adjust the taxes UP because there are no pennies to pay for it as is currently the situation. Unless, of course, you go to all digital money. Hmmm…
Why not stop minting 1¢ 5¢ and printing the 1$ and 2$, and mint 1$ and 2$ coins
You mean the 3/4 full 5 gallon water bottle I have of pennies will now become worthless to spend when businesses stop using them?
I am Canadian and Canada stopped minting pennies under the leadership of Prime minister Harper (about 15 years ago). If you pay cash, the item purchased is either rounded up or down. If you pay by debit or credit, then you pay the exact price.
An interesting aside is I am the executrix for my sister’s estate (she died suddenly last March). Besides finding hoards of American and Canadian dollars in her house, I also found a milk container full of pennies. The bank DID take them back, but I had to do the rolling of them into $1 coin bundles.
I have also seen them cleaned/polished and used as backsplashes in bar kitchen. Gives new meaning to the term “penny round ceramic tile”.
The Federal Reserve has destroyed the value of the money they FORCE us to use. Getting rid of pennies does NOT address the root cause and unless the REAL ROOT CAUSE is addressed, we are ALL going to be burning our dollars to stay warm and pennies are going to be the least of our problems. Trump better invite Ron Paul over for some economics education before he continues putting band-aids on massive internal damage, thinking it will fix the problem.
In Canada, when paying cash, 3 cents is rounded up and two is rounded down. Credit card purchases still include pennies at their actual value.
So will they start removing pennies from circulation? Will businesses still be required to accept pennies as legal tender?
If they aren’t officially removed as legal tender, we will eventually run out of them anyway but that would include all the pennies that have fallen out of circulation and are sitting in various jars, jugs and bottles around the country. I would expect the Federal Reserve will take them out of circulation as they flow through the banks. Eventually we’ll have to get use to round up or down when dealing in cash.
they’re going to nickle and dime us to death
I do a lot of metal detecting, we call them “Zincolns”. Nasty corroding crap.
@Zonga — Make that “They’re going to dime and quarter us to death.”
Price inflation, doncha know!
– HISTORY LOST –
Find a Penny, pick it up,
All the day you’ll have good luck!
– HISTORY LOST –
A penny saved is a penny earned
Now, get rid of daylight savings time!
I remember as a kid when the penny gum balls at the barber shop changed from solid to hollow. I wonder what they would look like now?
@ Harry Monday, 10 February 2025, 18:00 at 6:00 pm,
IT’S TRUE! I found and picked one up this morning and I AM STILL ALIVE! So far…
We have enough pennies to work with.
And if you find any real old ones, like a 1909 S VDB, feel free to send it to @Mr_Pinko.
One of my friend’s dad was trying to find that 1909 S VDB penny back in the 60’s and it hasn’t been found yet. And penny candy is also a long-ago memory as well.
I have a better way to save money. Stop printing all paper denominations and re-designate the cent as a dollar.
And twenty years from now some pimple faced kid at the register won’t accept them as currency because he’s never seen one.
It happens with $2 bills.
People have been arrested because even cops think they’re fake.
Nickles cost too much also.
https://www.newsnationnow.com/business/your-money/cost-to-make-pennies-nickels/
If you get rid of nickels you can’t make change for quarters.
Hmmm. Was Mr. Pinko the Keyboardist for Nickelback?
“The Federal Reserve has destroyed the value of the money they FORCE us to use. Getting rid of pennies does NOT address the root cause and unless the REAL ROOT CAUSE is addressed, we are ALL going to be burning our dollars to stay warm and pennies are going to be the least of our problems. Trump better invite Ron Paul over for some economics education before he continues putting band-aids on massive internal damage, thinking it will fix the problem.”
Wow. If everything goes to shit I’ll prosper under the barter system. I’m thinking you’ll starve to death. There’s an economy you refuse to recognize. And will never understand. And it’s quite a bit more legit than a barter system. You’ve bought into total bull shit. Good luck to you.