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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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Tall Timbers said:
They should probably stop minting nickels and dimes, too.
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After TPTB have the policies and procedures in place for dealing with rounding, etc., and people are used to it, they'll probably use the "losing money minting coins and printing currency" justification to get rid of all cash and go to all electronic/digital transactions. Maybe rounding will be against the person with cash to "encourage" adoption of all electronic/digital transactions.

I think getting rid of pennies is yet another step toward universal electronic/digital economy and AI/computer control of all transactions and carrot-and-stick "encouragement" of PC/required behaviors.

Going to make teaching tithing and other money management to children harder :headbang:
 
When I first started using software to figure my taxes I didn't like that every line was rounded to the dollar, so for the first few years I continued to also manually fill out all the forms without rounding. Either way, what I owed was always the same so eventually I came to trust the rounding.

I don't know what percentage of the population pays with cash, but if we stopped minting all coins it would only effect a Smallish percentage of the population. A web search indicates about 20% of transactions are cash and that number shrinks some each year.

I tip with cash and have some for when the vendor only takes cash.
 
Tall Timbers said:
When I first started using software to figure my taxes I didn't like that every line was rounded to the dollar, so for the first few years I continued to also manually fill out all the forms without rounding. Either way, what I owed was always the same so eventually I came to trust the rounding.

I don't know what percentage of the population pays with cash, but if we stopped minting all coins it would only effect a Smallish percentage of the population. A web search indicates about 20% of transactions are cash and that number shrinks some each year.

I tip with cash and have some for when the vendor only takes cash.
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I always have a stash of cash enough to fill a gas tank or buy a week of groceries in case the debit machine is down

plus a small reserve for emergency use - usually I'm more careful about having that in the summer fire season when I might have to evacuate with little notice.

Also paying my hairdresser in cash, tips etc.

Cash is still king when the debit machines go down, the power goes out, or you have to leave home with little notice.

My late Russian mother in law would add several other contingencies to prepare for- all coming from her life experience of leaving Russia during the Revolution, settling in China, then leaving China during the Chinese Revolution for Canada. Making sure you always have money to bribe officials, and enough gold on you to put a down payment on a house in any country you end up, not to mention possibly buying a business to support you.

None of which I do or ever did, but I did tell the kids about because there is a lot of wisdom in her advice.
 
RonJohnSilver said:
How much to mint a Reece's Piece?
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The exact manufacturing cost of a single Reese's Piece is proprietary business information and not publicly available. The cost is a closely guarded secret involving not just ingredients, but also labor, equipment, packaging, quality control, and distribution
.
However, the cost per pound can provide an estimate of the ingredient/production expense in bulk:

A 25 lb case of Reese's Pieces costs approximately $118.49 for foodservice/bulk purchase, which breaks down to around $4.74 per pound.
There are roughly 600 pieces per pound.

This means the cost in bulk is approximately $0.0079 per piece.
This figure primarily covers bulk ingredients and packaging. The retail price for a single piece would also need to account for the profit margins of distributors and retailers, which is why the final price to a consumer is significantly higher than the manufacturing cost.

Source was ai
 
Tall Timbers said:
The exact manufacturing cost of a single Reese's Piece is proprietary business information and not publicly available. The cost is a closely guarded secret involving not just ingredients, but also labor, equipment, packaging, quality control, and distribution
.
However, the cost per pound can provide an estimate of the ingredient/production expense in bulk:

A 25 lb case of Reese's Pieces costs approximately $118.49 for foodservice/bulk purchase, which breaks down to around $4.74 per pound.
There are roughly 600 pieces per pound.

This means the cost in bulk is approximately $0.0079 per piece.
This figure primarily covers bulk ingredients and packaging. The retail price for a single piece would also need to account for the profit margins of distributors and retailers, which is why the final price to a consumer is significantly higher than the manufacturing cost.

Source was ai
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Add in the cost of a container of mint and I guess you could just dip it. I like it.
 
Kem said:
Amazon frequently visits this house because it is difficult for me to get to stores for vitamins, things such as new shower curtains, some food items that are not commonly in grocery stores and the like. Also gifts for family and friends are so much easier from Amazon.
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Amazon usually has what I'm looking for whereas local stores often don't.
 
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