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The U.S. Mint Strikes Its Last Penny Today — Halts Production After 232 Years Citing ‘Government Waste’

The United States Mint struck its final circulating one-cent coin at its Philadelphia facility today, ending 232 years of continuous penny production.

The move stems from mounting production costs and changing payment habits. The Mint estimates that each penny now costs approximately 3.69 cents to produce, almost four times its face value.

President Donald Trump announced in February that he was ordering his administration to end production of the coin, citing government waste.

No new pennies will be manufactured for circulation. Limited collector editions may still be produced, but mass minting has ended.

www.thegatewaypundit.com

The U.S. Mint Strikes Its Last Penny Today — Halts Production After 232 Years Citing 'Government Waste' | The Gateway Pundit | by Jim Hᴏft

The United States Mint struck its final circulating one-cent coin at its Philadelphia facility today, ending 232 years of continuous penny production.
www.thegatewaypundit.com www.thegatewaypundit.com
 
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Spartan Sprinter said:
A little off track but the word penny reminds me of the saying my nan and great aunt would say which was "I'm just going to spend a penny" LOL.

Their times must have been real polite back then
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We used to "spend a penny" when I was a kid, and "go tuppence." I may be the only person here who knows what both expressions meant ... and why.
 
Tall Timbers said:
60% wrong? You must have gotten that from ai. AI is more like 95% out to lunch.
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Nope . . . referring back to this thread
1LoverofGod

Thread 'Study: AI Search Engines Cite Incorrect Sources at a 60% Rate'

Ars Technica reports that the research tested eight AI-driven search tools equipped with live search functionality and discovered that the AI models incorrectly answered more than 60 percent of queries about news sources. This is particularly concerning given that roughly 1 in 4 Americans now use AI models as alternatives to traditional search engines, according to the report by researchers Klaudia Jaźwińska and Aisvarya Chandrasekar.

Error rates varied significantly among the platforms tested. Perplexity provided incorrect information in 37 percent of queries, while ChatGPT Search...
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I dont know about everywhere else but here locally merchants have stopped giving out pennies in transactions.
Retailers Still use the penny in pricing and taxing, so the customer is Still charged for pennies, but in the transaction when the customer is charged the total with pennies, lets say its $12.56, and the customer hands them lets say a twenty dollar bill, when change is given to the customer, the customer is short changed those four cents because they aren't giving pennies anymore, yet they are taking pennies in a transaction.
Consider how many transactions are done like this and as they accept pennies but not give the customer pennies, those pennies will add up and retailers are actually making extra money off of short changing the customers.
I see this as cheating the customer because if they are trying to phase out the use of the penny, then it should go both ways.
Fine if the retailer wont give out pennies, but dont accept them either. And change the retail pricing by not charging those pennies that the customer has to pay, and then short changing customers and making a profit off of the customer transactions by keeping the change.
And they are getting away with this
 
1LoverofGod said:
I dont know about everywhere else but here locally merchants have stopped giving out pennies in transactions.
Retailers Still use the penny in pricing and taxing, so the customer is Still charged for pennies, but in the transaction when the customer is charged the total with pennies, lets say its $12.56, and the customer hands them lets say a twenty dollar bill, when change is given to the customer, the customer is short changed those four cents because they aren't giving pennies anymore, yet they are taking pennies in a transaction.
Consider how many transactions are done like this and as they accept pennies but not give the customer pennies, those pennies will add up and retailers are actually making extra money off of short changing the customers.
I see this as cheating the customer because if they are trying to phase out the use of the penny, then it should go both ways.
Fine if the retailer wont give out pennies, but dont accept them either. And change the retail pricing by not charging those pennies that the customer has to pay, and then short changing customers and making a profit off of the customer transactions by keeping the change.
And they are getting away with this
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If they are always rounding up, they are cheating. The way it works is any amount from 1 to 4 cents is rounded down and from 5 to 9 cents is rounded up.
 
1LoverofGod said:
I dont know about everywhere else but here locally merchants have stopped giving out pennies in transactions.
Retailers Still use the penny in pricing and taxing, so the customer is Still charged for pennies, but in the transaction when the customer is charged the total with pennies, lets say its $12.56, and the customer hands them lets say a twenty dollar bill, when change is given to the customer, the customer is short changed those four cents because they aren't giving pennies anymore, yet they are taking pennies in a transaction.
Consider how many transactions are done like this and as they accept pennies but not give the customer pennies, those pennies will add up and retailers are actually making extra money off of short changing the customers.
I see this as cheating the customer because if they are trying to phase out the use of the penny, then it should go both ways.
Fine if the retailer wont give out pennies, but dont accept them either. And change the retail pricing by not charging those pennies that the customer has to pay, and then short changing customers and making a profit off of the customer transactions by keeping the change.
And they are getting away with this
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Congress needs to send a bill that stipulates how change is made without coinage to the President, so that consumers won't be cheated as you describe.
 
Tall Timbers said:
Congress needs to send a bill that stipulates how change is made without coinage to the President, so that consumers won't be cheated as you describe.
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They are cheating customers and the taxpayer. As their receipts show the inaccurate transaction for charges paid by the customer and those pennies are not given as change, their records show that the customer received change that Includes pennies that the customer didn't get, while the retailers are making extra revenue with those pennies that add up and isnt taxed to the retailer because it's on receipts that they gave those pennies to the customer when they didn't, so that extra profit they make from pennies add up but isnt going to be taxed as revenue on the retailers while the customers lose that money.
Sorry if this keeps making a full circle of repeated words. 🫤 Not feeling so good.
 
I needed to pick up something from the grocery store earlier today. They have taped signs at the register lines. It says that due to a shortage in pennies, they encourage customers to use exact change when making cash transactions because they wont be able to provide pennies when giving change due to the shortage of pennies and the US Government Mint will no longer be producing pennies.
That was quick to have a penny shortage over the Mint no longer producing pennies when it was only publicly announced a few days ago.
Still, they are short changing customers because they are still pricing store products using the penny such as $3.99 and if you dont give exact change you lose out on the pennies that add up while the store makes a profit
Unfair 🤨
 

US Treasury’s last five minted pennies may spark multimillion-dollar bidding war​


Treasury Secretary Scott Bessent struck the final five pennies on Wednesday — each bearing a rare omega mark — ending U.S. penny production and creating collectors' items that could fetch millions at auction.

The penny, first authorized under the Coinage Act of 1792, was recently discontinued due to rising production costs over the last decade. The tiny coin now costs nearly four cents to make but is only worth one cent.

While experts estimated the auction value of the final copper-colored tokens between $2 million and $5 million, according to USA Today, other coin collectors said the estimates seem unrealistic.

Officials with the U.S. Department of the Treasury said the rare handful of coins will be auctioned by the government at a later date, though it has not yet been announced.

www.foxbusiness.com

US Treasury’s last five minted pennies may spark multimillion-dollar bidding war

Treasury Secretary Scott Bessent struck the final five pennies with rare omega marks, ending 230-plus years of U.S. penny production. Collectors' items could fetch millions.
www.foxbusiness.com www.foxbusiness.com
 
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