No more pennies minted!

[jrf30]

President Trump just announced today that he has directed the mint to STOP making pennies. They cost too much to make.

Hopefully this will lead to allowing older pennies to be melted. But it looks like either way the penny is DONE.

 

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[JohnWhite]

Is he going to do away with the $4.29 9/10 on gas as well🤔😱🤣✌️⛄️

 

[jrf30]

President Trump just announced today that he has directed the mint to STOP making pennies. They cost too much to make.

Hopefully this will lead

Is he going to do away with the $4.29 9/10 on gas as well🤔😱🤣✌️⛄️

Yes. he is going to change it to $3.34 9/10. Drill baby drill. lolololol

 

[blauer]

President Trump just announced today that he has directed the mint to STOP making pennies. They cost too much to make.

Hopefully this will lead to allowing older pennies to be melted. But it looks like either way the penny is DONE.

View attachment 2192745

I guess this is easier than doing away with a fiat currency system that makes wage-slaves of us all (expect the masters). If we had a metal backed currency we could make a penny out of the cheapest plastic, and it would still be worth a cent. Today, tomorrow and even years from now.

Wake up you sleeping slaves and throw the masters in the ditch.

 

[galenrog]

Doing away with the cent may be a bit more difficult than simply issuing an executive order. Several times in the past, the US Mint has floated the idea, only to have Congress torpedo the plan.

Even if Trump does not have the authority, due to a previous act of Congress, perhaps simply floating the idea will prod the 535 professional lame brains to do something sensible in this regard.

Time for more coffee.

 

[JohnWhite]

With gold’s new high the BRICS nations currency is worth more than our pretty pennies…🤔😱😆😂🤣✌️⛄️

 

[JohnWhite]

Yes. he is going to change it to $3.34 9/10. Drill baby drill. lolololol

I just found out today that our nickels cost 11 cents to make maybe he should eliminate the nickel instead of the penny…🤔😱😆😂🤣✌️⛄️

 

[xr7ator]

I guess this is easier than doing away with a fiat currency system that makes wage-slaves of us all (expect the masters). If we had a metal backed currency we could make a penny out of the cheapest plastic, and it would still be worth a cent. Today, tomorrow and even years from now.

Wake up you sleeping slaves and throw the masters in the ditch.

If we can make $100 bills from ink and paper we can make one cent coins out of plastic.

 

[robertk]

If we can make $100 bills from ink and paper we can make one cent coins out of plastic.

Agreed. I’m actually NOT in favor of that, except for one reason — it would show people that our “money” is inherently worthless and has no value other than as a “standard” on which to trade. (Whether that in itself is a good thing is a whole ‘nother subject.)

 

[signal_line]

Agreed. I’m actually NOT in favor of that, except for one reason — it would show people that our “money” is inherently worthless and has no value other than as a “standard” on which to trade. (Whether that in itself is a good thing is a whole ‘nother subject.)

Maybe 20 years ago I got a letter in the snail mail for some advertisement. The envelope was specially made with a round window of clear plastic so the person could see there was one penny inside. I thought to myself who would bother to take the time to open the letter for one penny? I guess there must be enough penny pinchers around to make it with it. I can’t imagine somebody that cheap is going to buy their product, but I could be wrong!

 

[TORRERO]

I just found out today that our nickels cost 11 cents to make maybe he should eliminate the nickel instead of the penny…🤔😱😆😂🤣✌️⛄️

All he has to do is get rid of the Nickel, call a penny a nickel and add a $2 and $5 coin, you could have a new nickel that costs 3 cents to make, and no pennies... and add those dollar coins to make us happy 🤣

 

[TORRERO]

If we can make $100 bills from ink and paper we can make one cent coins out of plastic.

I think coins have to be metal, to work in machines, but they could do what Mexico and many South American countries do... make coins out of stainless steel ... magnet fishing would take on a whole new meaning !!

 

[blauer]

This is another case of treating the symptoms and not the disease.
The question is WHY does is cost the amount it does. There you will find the root cause ...

 

[dognose]

It costs nearly four cents to make one penny. The nickel costs even more.

The nickel and the penny should go from trumps orders.

Each penny costs 3.7 cents to produce and distribute​

While production costs have risen for each of the coins below, pennies and nickels are the only two that cost more to make than they’re worth. In 2024, it cost four times more to make a penny and three times more to make a nickel than it did 20 years ago.

Pennies and nickels cost more than they were worth for the 19th consecutive fiscal year, according to the US Mint. Last year, the US Treasury lost money on both coins and have steadily been producing fewer of the two in the past few years.

All coins, though, recorded increases in production and distribution costs — driven by increases in copper and zinc prices. Notably, the quarter cost 26% more to make than it did in 2023 and the penny 20% more.

Experts say getting rid of the penny, however, could burden the US Treasury Department with producing more nickels to fill the gap, ultimately worsening the financial burden.

 

[CJ9]

Last I checked, this is a forum dedicated to COIN ROLL HUNTING - so in that regard, given that we are COIN ROLL HUNTERS, why would anyone advocate for getting rid of the nickel. Plenty of people here (myself included) search through nickels. Are we trying to kill our own hobby ourselves (shoot ourselves in the foot)? Isn't it enough that electronic payments, COVID, etc. have already threatened what we all enjoy doing.

I don't care what it costs to make - frankly, I (as well as anyone else here who CRH nickels) profit from them being around, as we look for buffaloes, war nickels, and key dates. Not being able to do that anymore would be a big bummer.

They can just make them out of cheaper materials or they can melt old worn ones down to make new ones so the cost of metal would be only the incremental amount produced. Given that there is less need for cash overall, they probably don't even need to produce significantly more than they can probably remove from circulation (i.e., the total amount of nickels in overall circulation probably doesn't need to increase much, if at all).

just my 2 cents (or 5 cents in this case)

 

[coinshooter]

Is he going to do away with the $4.29 9/10 on gas as well🤔😱🤣✌️⛄️

It's $5.50 here in CA.

 

[JohnWhite]

It's $5.50 here in CA.

I was being a bit sarcastic with the 9/10ths

 

[beepbleep]

I'm interested in learning how you pay in tenths of a cent. That's merely a marketing ploy to lure you in. Are you paying or receiving tenths? Only in your mind.

 

[JohnWhite]

Food for thought…Who knowsMaybe IF magnetically propelled vehicles are ever introduced gas prices may fall to 10 cents a gallon once again…

https://www.google.com/search?q=why...QK5HpIHBDE5LjOgB410&sclient=mobile-gws-wiz-hp …🤔😱✌️⛄️

 

[Tpmetal]

Food for thought…Who knowsMaybe IF magnetically propelled vehicles are ever introduced gas prices may fall to 10 cents a gallon once again…

https://www.google.com/search?q=why+does+gas+prices+always+end+in+9/10&client=safari&sca_esv=574d2bfb6c77bc2c&channel=iphone_bm&source=hp&ei=ftWyZ7LRO-WU0PEPoY2S6QE&oq=why+does+gas+prices &gs_lp=EhFtb2JpbGUtZ3dzLXdpei1ocCIVd2h5IGRvZXMgZ2FzIHByaWNlc8KgKgIIATIFEAAYgAQyBRAAGIAEMgUQABiABDIFEAAYgAQyBRAAGIAEMgUQABiABDIFEAAYgAQyBRAAGIAESIlZULcLWIhRcAJ4AJABAJgBc6ABig2qAQQxOS4xuAEByAEA-AEBmAIWoAKNDqgCG8ICAhApwgIFECkYgATCAgsQKRiABBiRAhiKBcICChAAGAMY6gIYjwHCAgoQLhgDGOoCGI8BwgILEAAYgAQYkQIYigXCAgoQABiABBhDGIoFwgILEC4YgAQY0QMYxwHCAggQLhiABBjUAsICBRAuGIAEmAMU8QWZw7BEJQK5HpIHBDE5LjOgB410&sclient=mobile-gws-wiz-hp …🤔😱✌️⛄️

We have those already, electric motors. Gas prices continue to rise. I assume you probably mean meglev though, like using super conductors to make em "float".