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Trump Axes the Penny in Latest Round of Federal Cuts: 'This Is So Wasteful!'

President Donald Trump, who vowed when taking office to bring common sense to the federal government, said it is time to stop wasting money just to produce something no one wants.

“For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful! “ Trump wrote on Truth Social.

“I have instructed my Secretary of the US Treasury to stop producing new pennies. Let’s rip the waste out of our great nations budget, even if it’s a penny at a time,” Trump wrote.

More

www.westernjournal.com

Trump Axes the Penny in Latest Round of Federal Cuts: 'This Is So Wasteful!'

President Donald Trump says even if it is only a few cents at a time, the federal government needs to stop wasting money.
www.westernjournal.com www.westernjournal.com
 
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When there was a coin shortage, everything was priced so it was rounded UP.

Net result: more inflation, which hurt the poor and seniors/elderly on fixed incomes the most :furious: :mad: :apost: :ban:


Besides, pennies are :cool:

And if a child's allowance is a dime, it's hard to teach tithing, saving, etc. without pennies :tap:
Even if the allowance is more, pennies are needed to teach money.

One more step to no cash, all electronic . . . one more step toward AC/beast/MOB

And the KJV says a quart of wheat, or four quarts of barley, for a penny. IIRC, one needs about $35 in pennies to get through the Tribulation. When I was a teen and had just learned about the Rapture, Tribulation, etc. in Hal Lindsey's The Late Great Planet Earth, I tried to save up enough pennies to have on-hand for the Tribulation. Somehow, I wasn't connecting Rapture and not needing all those pennies :lol:
 
Canada got rid of its pennies a few years ago. Things all balanced out. Any amount ending in 0, 1, or 2 cents is rounded down to 0; and anything ending in 3, 4, or 5 cents is rounded up to 5 cents. The cash registers do it automatically, so there are no mental gymnastics required. It feels weird to begin with, but you soon get used to it. And it sure cuts down on the amount of coins you carry in your pocket or purse.
 
1LoverofGod said:
President Donald Trump, who vowed when taking office to bring common sense to the federal government, said it is time to stop wasting money just to produce something no one wants.

“For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful! “ Trump wrote on Truth Social.

“I have instructed my Secretary of the US Treasury to stop producing new pennies. Let’s rip the waste out of our great nations budget, even if it’s a penny at a time,” Trump wrote.

More

www.westernjournal.com

Trump Axes the Penny in Latest Round of Federal Cuts: 'This Is So Wasteful!'

President Donald Trump says even if it is only a few cents at a time, the federal government needs to stop wasting money.
www.westernjournal.com www.westernjournal.com
Click to expand...

I won’t miss it.
 
mattfivefour said:
Canada got rid of its pennies a few years ago. Things all balanced out. Any amount ending in 0, 1, or 2 cents is rounded down to 0; and anything ending in 3, 4, or 5 cents is rounded up to 5 cents. The cash registers do it automatically, so there are no mental gymnastics required. It feels weird to begin with, but you soon get used to it. And it sure cuts down on the amount of coins you carry in your pocket or purse.
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I was dubious at first, but I LOVE it now. It's so much easier than dragging a pocketful of pennies around.

Most of us up here pay with debit - and that is still to the penny. For cash though I love not being weighed down with a coin purse full of pennies.
 
Every penny cost $0.0369 in 2024, up 20% from the year before, according to U.S. Mint’s annual report. That means the unit cost of producing and distributing a penny is more than triple its face value. Nickels also cost more to produce than they’re worth.

As of 2024, it costs the United States Mint 14 cents to make each nickel. This is more than double what the coin is worth. The cost of making a nickel has been increasing over the years. The coin is made of 75% zinc and 25% nickel, which makes it more expensive to produce than every U.S. bill from a one-dollar bill all the way up to a C-note.

Per the latest U.S. Mint report, it costs less than six cents to make a dime ($0.0576).

The cost to make a quarter in the United States is approximately 11.14 cents.

The cost to make a paper dollar in 2024 is 9.4 cents.

There are still a few things you can buy with a dollar, but the number of things a dollar can buy is dwindling fast.
 
Margery said:
When I pay at the gas pump, I pay to the penny using my debit card. We have to use debit or credit cards at the pumps, unless you go in, pay cash ahead, go back in to get change.
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Interesting.
Here in Southern California when we go to the gas pump, payers are rewarded with cheaper gas up to 20¢ less by using cash. Using a card the gas is more expensive.
Then to add the liberal climage alarmists globalists leading California charge a climate gas tax to top off already expensive gas.
Right now average gas price for premium is about $5 per gallon and less octane gas isn't too much cheaper.
 
Tall Timbers said:
Every penny cost $0.0369 in 2024, up 20% from the year before, according to U.S. Mint’s annual report. That means the unit cost of producing and distributing a penny is more than triple its face value. Nickels also cost more to produce than they’re worth.

As of 2024, it costs the United States Mint 14 cents to make each nickel. This is more than double what the coin is worth. The cost of making a nickel has been increasing over the years. The coin is made of 75% zinc and 25% nickel, which makes it more expensive to produce than every U.S. bill from a one-dollar bill all the way up to a C-note.

Per the latest U.S. Mint report, it costs less than six cents to make a dime ($0.0576).

The cost to make a quarter in the United States is approximately 11.14 cents.

The cost to make a paper dollar in 2024 is 9.4 cents.

There are still a few things you can buy with a dollar, but the number of things a dollar can buy is dwindling fast.
Click to expand...

Wow, interesting stuff.
 
Batman said:
I'd love to hear more true facts about the cost of creating coinage currency in many other nations in order to see just how silly it is that the US spends > 3 to 1 for the penny......but it still has to be silly anyway.
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We got rid of the dollar bill, and then the 2$ bill followed, both replaced by coins we call the Loonie, and the Toonie. Back in the pre world war 2 era they had the "5&Dime" stores. Now we have dollar stores.

So I think give or take 85 years later the dollar is worth what a nickel was then but I haven't gone into it to be sure. Just my opinion.
 
Margery said:
world war 2 era they had the "5&Dime" stores
Click to expand...

When I was a kid, we had a Gilbert's five and dime a couple of blocks from our house. I'd ride my bike there and look at everything in the store. The employees must have been watching me closely to make sure I didn't steal anything... Since I was a wee fellar, I probably was touching everything I saw. I went there often.

Margery said:
Now we have dollar stores.
Click to expand...

They still call them dollar stores in the USA, but all but one maybe doesn't have anything for only a dollar. There may be one chain that still charges a dollar for the junk they carry, but maybe not. I'll bet @LightOfMyLife would be the expert in that area.
 
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