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Started By
Message
The Penny is Dead...new pennies will no longer be created after current stock is exhausted
Posted on 5/22/25 at 10:21 am
Posted on 5/22/25 at 10:21 am
LINK
quote:
A Treasury spokesperson said the government made its final order of penny blanks this month, and the United States Mint will continue to manufacture pennies only as long as an inventory of penny blanks exists. Consumers with pennies will still be able to use them for purchases. But without new pennies moving into circulation, businesses that complete cash transactions will have to start rounding up or down to the nearest nickel.
The move is not a surprise. The production of a penny costs more than the value of the coin. President Donald Trump said in February that he ordered the US Mint to stop making pennies, citing the cost.
quote:
One reason that the US government has to make so many pennies every year is because a large percentage of them don’t remain in circulation. They are stashed in penny jars or junk drawers at home, or they fall on the ground and people don’t even bother to pick them up.
20
Posted on 5/22/25 at 10:22 am to GetCocky11
Guess I’ll put nickels on train tracks
This post was edited on 5/22/25 at 10:22 am
Posted on 5/22/25 at 10:22 am to GetCocky11
Bastards are gonna be double their value in 2035. Stock up now.
Posted on 5/22/25 at 10:23 am to Odysseus32
quote:
Stock up now.
With about 250 billion pennies in circulation, I don't think we need to worry about it in our lifetime.
Posted on 5/22/25 at 10:23 am to GetCocky11
Everything just went up $.04.
Posted on 5/22/25 at 10:24 am to GetCocky11
quote:
Pennies cost more to produce than their face value (currently, about 3.7 cents to make a penny, compared to the 1 cent value). Nickels, while worth more, are even more expensive to produce (about 13.8 cents each).
Posted on 5/22/25 at 10:24 am to GetCocky11
quote:
The production of a penny costs more than the value of the coin.
Well, the logic only makes sense only if a penny is to be used once. Most pennies last years...
Posted on 5/22/25 at 10:24 am to tide06
quote:
Everything just went up $.04.
yup
Posted on 5/22/25 at 10:26 am to GetCocky11
quote:
With about 250 billion pennies in circulation
I think my mom has about a quarter of that in this big arse jar she has... filled with pennies.
Posted on 5/22/25 at 10:27 am to GetCocky11
I wish all change would be outlawed. Round everything up or down to the nearest dollar.
Posted on 5/22/25 at 10:38 am to Odysseus32
quote:
Bastards are gonna be double their value in 2035. Stock up now.
Might have to put in my order for a proof set or 2.
Posted on 5/22/25 at 11:13 am to Lonnie Utah
Most pennies probably end up in car cupholders after a few transactions...I'd say it holds true.
Posted on 5/22/25 at 11:19 am to Lonnie Utah
quote:
Well, the logic only makes sense only if a penny is to be used once. Most pennies last years...
quote:
One reason that the US government has to make so many pennies every year is because a large percentage of them don’t remain in circulation.
Posted on 5/22/25 at 11:33 am to nes2010
quote:
about 13.8 cents
We need to change these. Can we start making nickels out of pennys?
Posted on 5/22/25 at 11:41 am to GetCocky11
I've never understood why people keep periodically saying there's a penny shortage.
I've got three 5 gallon jars full of pennies in my den...
I've got three 5 gallon jars full of pennies in my den...
Posted on 5/22/25 at 11:41 am to tide06
quote:
Everything just went up $.04.
WTF do you think you can buy for a penny in today's economy-----or for that matter, the last decade or more.
Posted on 5/22/25 at 11:42 am to GetCocky11
we gonna get nickel and dimed to death now.
Posted on 5/22/25 at 11:43 am to gumbo2176
quote:
WTF do you think you can buy for a penny in today's economy-----or for that matter, the last decade or more.
That is terrible logic. What can we buy for a dime? Point is, taxes and prices make prices random as frick and pennies are needed to pay in cash and get appropriate change.
Posted on 5/22/25 at 11:44 am to tide06
quote:
Everything just went up $.04.
Only cash transactions are rounded. there will be no noticable impact on anyone's finances unless for some reason you were conducting thousands of cash transactions every single day.
Many other countries have retired their penny equivalent over the past few decades.
Posted on 5/22/25 at 11:44 am to GetCocky11
Surprised this hasn't happened sooner.
The penny literally holds no value anymore and it's been that way for years.
The penny literally holds no value anymore and it's been that way for years.
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