Posted on 05/22/2025 8:10:55 AM PDT by marcusmaximus
The Treasury Department is phasing out penny production by early next year after President Donald Trump ordered the government to halt the “wasteful” minting of the coins.
The Treasury will stop making pennies by early 2026, which will require businesses to start rounding up or down to the nearest five cents, the agency confirmed in a statement to the Wall Street Journal on Thursday.
(Excerpt) Read more at washingtonexaminer.com ...
So then, what do we do with all the pennies around that we have?
I have a huge jar of them. Many older.
In 1965 for $100 you could buy one ounce of gold and 50 ounces of silver.
As of today, one ounce of gold and 50 ounces of silver cost $5,000.
At the rate congress is spending we will soon stop printing nickles, dimes, and quarters.
PENNIES ARE NOT GOING TO VANISH.
THEY ARE JUST NOT MAKING MORE OF THEM.
NO REASON TO ROUND UP.
But how are the kids going to pay for the penny candy?
Nickels cost 12.5 cents to make. Keep the penny and get rid of nickels.
1969 is worth a penny
Neither makes sense at this point.
No, digital transactions will not be rounded.
You can still spend them.
I agree but I don’t think we want to round up to the nearest dime.
President Trump is wrong. The penny production should continue despite his notion.
which will require businesses to start rounding up or down to the nearest five cents
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So who is going to round down as prices soar due to the loss of the penny?
What are you buying for 7 cents?!?
Do you want to pay 60 cents for something that cost 54 cents?
The first dead politician did not appear until 1909, the last image of Liberty was not removed until 1947. No US coin had a run of more than 100 years until this century.
Obviously, coinage should respect value. The penny and the nickel should be discontinued. Coins of 10 cents, 25 cents, 50 cents, one and two dollars (and probably five dollars) should issue with dead politicians and DEI figures prohibited, ideally, Liberty and Native Americans in all of their glorious previous depictions would reappear across the line.
No reason to expect rounding up more than down, except for the usual march of inflation.
“The penny production should continue despite his notion.”
What we need to do is make the dollar worth a dollar again. Then the value of the Penny will mean something again also.
The Nickel is the only current coin still worth it’s weight in metal melt value. In fact more than face value... :)
Commodities trade will fade out from the U.S.A. Trade will be taken up outside the U.S.A. Because of the demand for small increments - changes.
Stocks currently trade for 1/10th of a penny increments.
The small changes in price, are essential for stability, and they matter quite a lot for large volume trades.
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