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"Trump says he has directed US Treasury to stop minting new pennies, citing rising cost"

https://apnews.com/article/trump-penny- ... 97653051ba

WASHINGTON (AP) — President Donald Trump says he has directed the Treasury Department to stop minting new pennies, citing the rising cost of producing the one-cent coin.

“For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful!” Trump wrote in a post Sunday night on his Truth Social site. “I have instructed my Secretary of the US Treasury to stop producing new pennies.”

...

The U.S. Mint reported losing $85.3 million in the 2024 fiscal year that ended in September on the nearly 3.2 billion pennies it produced. Every penny cost nearly $0.037 — up from $0.031 the year before.

The mint also loses money on the nickel, with each of the $0.05 coins costing nearly $0.14 to make.

It is unclear whether Trump has the power to unilaterally eliminate the lowly one-cent coin. Currency specifications -- including the size and metal content of coins -- are dictated by Congress.

I'd almost be willing to let go of the nickel as well. I haven't spent actual coin cash in a number of years, and only keep a couple of quarters for the carts at Aldi's.

But I'm sure there would be a lot of fallout, actual or perceived, over such a move. One, I'd guess, is due to rounding. Something costing $1.49 at the store can be easily accommodated with a credit card, Apple/Google Pay, or other non-cash means. But with cash, it's rounded up to $1.50, and I'm sure a lot of people will squawk over the damn lost penny. So just make everything even ending in 0 or 5, or maybe even eliminate the nickel and make all prices even to 0.

We shouldn't even be having to deal with the whole 9/10 of a cent business anymore, but there it is on every gas station sign.

Canada stopped years ago.
There will be some hooting and hollering but everyone will get used to it eventually (much like most of Trumps moves).

We stopped in 2012.

If you pay in cash the price gets rounded up or down. If you pay digitally, which most do these days, you pay what it is.

It’s about time. It’s been costing us more than a penny to make a penny for years now.

Antknot wrote: ↑Wed Feb 12, 2025 1:53 am It’s about time. It’s been costing us more than a penny to make a penny for years now.

The nickel costs more than 5 cents too I believe

Biker wrote: ↑Wed Feb 12, 2025 9:12 pm

Antknot wrote: ↑Wed Feb 12, 2025 1:53 am It’s about time. It’s been costing us more than a penny to make a penny for years now.

The nickel costs more than 5 cents too I believe

i have heard the argument about what it costs to make a penny for years. why does it matter if it costs more than a penny to make it? They get used thousands of times each. the decision to use it or do away with it really comes down to whether its worth the trouble for vendors to deal with it. which its not.

but its not about the cost to make it. if that was the case, we wouldn't have much of anything.

Animal wrote: ↑Wed Feb 12, 2025 9:18 pm

Biker wrote: ↑Wed Feb 12, 2025 9:12 pm

Antknot wrote: ↑Wed Feb 12, 2025 1:53 am It’s about time. It’s been costing us more than a penny to make a penny for years now.

The nickel costs more than 5 cents too I believe

i have heard the argument about what it costs to make a penny for years. why does it matter if it costs more than a penny to make it? They get used thousands of times each. the decision to use it or do away with it really comes down to whether its worth the trouble for vendors to deal with it. which its not.

but its not about the cost to make it. if that was the case, we wouldn't have much of anything.

Oh, I'm not suggesting we do away with either. The cost to make argument is just a ruse that paves the way to do with cash altogether and opt for some sort of digital currency. I dont want that at all

Biker wrote: ↑Wed Feb 12, 2025 9:27 pm

Animal wrote: ↑Wed Feb 12, 2025 9:18 pm

Biker wrote: ↑Wed Feb 12, 2025 9:12 pm

Antknot wrote: ↑Wed Feb 12, 2025 1:53 am It’s about time. It’s been costing us more than a penny to make a penny for years now.

The nickel costs more than 5 cents too I believe

i have heard the argument about what it costs to make a penny for years. why does it matter if it costs more than a penny to make it? They get used thousands of times each. the decision to use it or do away with it really comes down to whether its worth the trouble for vendors to deal with it. which its not.

but its not about the cost to make it. if that was the case, we wouldn't have much of anything.

Oh, I'm not suggesting we do away with either. The cost to make argument is just a ruse that paves the way to do with cash altogether and opt for some sort of digital currency. I dont want that at all

i hear that you will have to have the 666 microchip emplanted in your forehead to deal with the next currency. failure to have the chip will lead to 7 years of trials and tribulation.

Animal wrote: ↑Wed Feb 12, 2025 9:29 pm

Biker wrote: ↑Wed Feb 12, 2025 9:27 pm

Animal wrote: ↑Wed Feb 12, 2025 9:18 pm

Biker wrote: ↑Wed Feb 12, 2025 9:12 pm

Antknot wrote: ↑Wed Feb 12, 2025 1:53 am It’s about time. It’s been costing us more than a penny to make a penny for years now.

The nickel costs more than 5 cents too I believe

i have heard the argument about what it costs to make a penny for years. why does it matter if it costs more than a penny to make it? They get used thousands of times each. the decision to use it or do away with it really comes down to whether its worth the trouble for vendors to deal with it. which its not.

but its not about the cost to make it. if that was the case, we wouldn't have much of anything.

Oh, I'm not suggesting we do away with either. The cost to make argument is just a ruse that paves the way to do with cash altogether and opt for some sort of digital currency. I dont want that at all

i hear that you will have to have the 666 microchip emplanted in your forehead to deal with the next currency. failure to have the chip will lead to 7 years of trials and tribulation.

Yeah, because a CBDC has NEVER been discussed openly

Time for your 15th booster, Bub

Biker wrote: ↑Wed Feb 12, 2025 9:35 pm

Animal wrote: ↑Wed Feb 12, 2025 9:29 pm

Biker wrote: ↑Wed Feb 12, 2025 9:27 pm

Animal wrote: ↑Wed Feb 12, 2025 9:18 pm

Biker wrote: ↑Wed Feb 12, 2025 9:12 pm

Antknot wrote: ↑Wed Feb 12, 2025 1:53 am It’s about time. It’s been costing us more than a penny to make a penny for years now.

The nickel costs more than 5 cents too I believe

i have heard the argument about what it costs to make a penny for years. why does it matter if it costs more than a penny to make it? They get used thousands of times each. the decision to use it or do away with it really comes down to whether its worth the trouble for vendors to deal with it. which its not.

but its not about the cost to make it. if that was the case, we wouldn't have much of anything.

Oh, I'm not suggesting we do away with either. The cost to make argument is just a ruse that paves the way to do with cash altogether and opt for some sort of digital currency. I dont want that at all

i hear that you will have to have the 666 microchip emplanted in your forehead to deal with the next currency. failure to have the chip will lead to 7 years of trials and tribulation.

Yeah, because a CBDC has NEVER been discussed openly

Time for your 15th booster, Bub

So you are saying that you have proof that Jerome Powell is the anti christ?

https://www.federalreserve.gov/central- ... rrency.htm

https://www.atlanticcouncil.org/blogs/n ... urrencies/

The push is there

Animal wrote: ↑Wed Feb 12, 2025 9:18 pm

Biker wrote: ↑Wed Feb 12, 2025 9:12 pm

Antknot wrote: ↑Wed Feb 12, 2025 1:53 am It’s about time. It’s been costing us more than a penny to make a penny for years now.

The nickel costs more than 5 cents too I believe

i have heard the argument about what it costs to make a penny for years. why does it matter if it costs more than a penny to make it? They get used thousands of times each. the decision to use it or do away with it really comes down to whether its worth the trouble for vendors to deal with it. which its not.

but its not about the cost to make it. if that was the case, we wouldn't have much of anything.

This 100%. But it's low hanging fruit for the Republi-cons and their simple-minded leader.

WarmBidetWater wrote: ↑Thu Feb 13, 2025 5:27 pm

Animal wrote: ↑Wed Feb 12, 2025 9:18 pm

Biker wrote: ↑Wed Feb 12, 2025 9:12 pm

Antknot wrote: ↑Wed Feb 12, 2025 1:53 am It’s about time. It’s been costing us more than a penny to make a penny for years now.

The nickel costs more than 5 cents too I believe

i have heard the argument about what it costs to make a penny for years. why does it matter if it costs more than a penny to make it? They get used thousands of times each. the decision to use it or do away with it really comes down to whether its worth the trouble for vendors to deal with it. which its not.

but its not about the cost to make it. if that was the case, we wouldn't have much of anything.

This 100%. But it's low hanging fruit for the Republi-cons and their simple-minded leader.

No. Its more like leap year or the metric system. where everyone knows it needs to be done but no one wants to be the jackoff that burden's people with the change.

Animal wrote: ↑Thu Feb 13, 2025 5:42 pm

WarmBidetWater wrote: ↑Thu Feb 13, 2025 5:27 pm

Animal wrote: ↑Wed Feb 12, 2025 9:18 pm

Biker wrote: ↑Wed Feb 12, 2025 9:12 pm

Antknot wrote: ↑Wed Feb 12, 2025 1:53 am It’s about time. It’s been costing us more than a penny to make a penny for years now.

The nickel costs more than 5 cents too I believe

i have heard the argument about what it costs to make a penny for years. why does it matter if it costs more than a penny to make it? They get used thousands of times each. the decision to use it or do away with it really comes down to whether its worth the trouble for vendors to deal with it. which its not.

but its not about the cost to make it. if that was the case, we wouldn't have much of anything.

This 100%. But it's low hanging fruit for the Republi-cons and their simple-minded leader.

No. Its more like leap year or the metric system. where everyone knows it needs to be done but no one wants to be the jackoff that burden's people with the change.

No. It's doing something regardless of the downstream effect. Low hanging fruit. Removing the penny might result in having to make more nickels which are far more expensive to produce. It would also result in some inflation as companies round prices up rather than down. Also, are taxes also going to be rounded up? So that there's going to effectively be a tax increase?

WarmBidetWater wrote: ↑Thu Feb 13, 2025 5:59 pm

Animal wrote: ↑Thu Feb 13, 2025 5:42 pm

WarmBidetWater wrote: ↑Thu Feb 13, 2025 5:27 pm

Animal wrote: ↑Wed Feb 12, 2025 9:18 pm

Biker wrote: ↑Wed Feb 12, 2025 9:12 pm

Antknot wrote: ↑Wed Feb 12, 2025 1:53 am It’s about time. It’s been costing us more than a penny to make a penny for years now.

The nickel costs more than 5 cents too I believe

i have heard the argument about what it costs to make a penny for years. why does it matter if it costs more than a penny to make it? They get used thousands of times each. the decision to use it or do away with it really comes down to whether its worth the trouble for vendors to deal with it. which its not.

but its not about the cost to make it. if that was the case, we wouldn't have much of anything.

This 100%. But it's low hanging fruit for the Republi-cons and their simple-minded leader.

No. Its more like leap year or the metric system. where everyone knows it needs to be done but no one wants to be the jackoff that burden's people with the change.

No. It's doing something regardless of the downstream effect. Low hanging fruit. Removing the penny might result in having to make more nickels which are far more expensive to produce. It would also result in some inflation as companies round prices up rather than down. Also, are taxes also going to be rounded up? So that there's going to effectively be a tax increase?

first of all, how in the world would removing the penny result in an increase in the need for nickels?
second, you realize it only affects the rounding for people that are paying cash, which is not very many people at all. so this is also a stretch.
third, a tax increase? who mails in their tax payments with cash?

slow down and give this a little more thought.

WarmBidetWater wrote: ↑Thu Feb 13, 2025 5:59 pm

Animal wrote: ↑Thu Feb 13, 2025 5:42 pm

WarmBidetWater wrote: ↑Thu Feb 13, 2025 5:27 pm

Animal wrote: ↑Wed Feb 12, 2025 9:18 pm

Biker wrote: ↑Wed Feb 12, 2025 9:12 pm

Antknot wrote: ↑Wed Feb 12, 2025 1:53 am It’s about time. It’s been costing us more than a penny to make a penny for years now.

The nickel costs more than 5 cents too I believe

i have heard the argument about what it costs to make a penny for years. why does it matter if it costs more than a penny to make it? They get used thousands of times each. the decision to use it or do away with it really comes down to whether its worth the trouble for vendors to deal with it. which its not.

but its not about the cost to make it. if that was the case, we wouldn't have much of anything.

This 100%. But it's low hanging fruit for the Republi-cons and their simple-minded leader.

No. Its more like leap year or the metric system. where everyone knows it needs to be done but no one wants to be the jackoff that burden's people with the change.

No. It's doing something regardless of the downstream effect. Low hanging fruit. Removing the penny might result in having to make more nickels which are far more expensive to produce. It would also result in some inflation as companies round prices up rather than down. Also, are taxes also going to be rounded up? So that there's going to effectively be a tax increase?

Taxes have ALWAYS been rounded up.

Antknot wrote: ↑Thu Feb 13, 2025 7:27 pm

WarmBidetWater wrote: ↑Thu Feb 13, 2025 5:59 pm

Animal wrote: ↑Thu Feb 13, 2025 5:42 pm

WarmBidetWater wrote: ↑Thu Feb 13, 2025 5:27 pm

Animal wrote: ↑Wed Feb 12, 2025 9:18 pm

Biker wrote: ↑Wed Feb 12, 2025 9:12 pm

The nickel costs more than 5 cents too I believe

i have heard the argument about what it costs to make a penny for years. why does it matter if it costs more than a penny to make it? They get used thousands of times each. the decision to use it or do away with it really comes down to whether its worth the trouble for vendors to deal with it. which its not.

but its not about the cost to make it. if that was the case, we wouldn't have much of anything.

This 100%. But it's low hanging fruit for the Republi-cons and their simple-minded leader.

No. Its more like leap year or the metric system. where everyone knows it needs to be done but no one wants to be the jackoff that burden's people with the change.

No. It's doing something regardless of the downstream effect. Low hanging fruit. Removing the penny might result in having to make more nickels which are far more expensive to produce. It would also result in some inflation as companies round prices up rather than down. Also, are taxes also going to be rounded up? So that there's going to effectively be a tax increase?

Taxes have ALWAYS been rounded up.

maybe when H&R block tells him that he owes $241.02 in income taxes and he mails in his bills and now his nickel it will be the 3 cent tax increase that finally brings his empire crashing down and the last nickel before we have to print more nickels and pass a new budget to cover the minting costs.

Taxes are rounded up or down to the dollar.

B-Tender wrote: ↑Thu Feb 13, 2025 8:27 pm Taxes are rounded up or down to the dollar.

so you are saying that trump is giving half the people a tax increase and half a tax cut? I guess that's fair.