DOGE takes aim at the penny

Boosibri

https://www.yahoo.com/news/doge-takes-aim-penny-165459679.html

MsMorrisine

nickel loses money, too!

No Headlights

Look at Canada. They have made it work. They also eliminated $1 bills. $1 and $2 coins. Canada using common sense at work IMO.

lkenefic

How has elimination of the Cent (and other small denominations) impacted the collector market for complete sets? Now that there's a finite number of coins to acquire... or were the mintage s high enough that it didn't really affect it...

DCW

I say they eliminate the cent for circulation and simply strike it for collectors. Kind of like the Kennedy half.

SIowhand

I don’t care one way or the other. There’s probably enough pennies that already exist to last another generation.

But citing the cost to make them is meaningless. That article states they spend $86M to make the penny. So? The annual budget is $6+ trillion. $86M is practically a rounding error.

Of course, trim what you can but maybe we should turn our attention to the real bloat.

alefzero

We don't need the second decimal place at all. Mint a dime and reasonably-sized 50c piece; print $1, $10, $20, $100, $1000. But it not a job for some fantasy department. The House can introduce it and go from there. We eliminated the half-cent when it had far less buying power than our present dime.

BryceM

I'd rework the whole system so a pocketful of change can buy a decent diner for two. We don't need the cent, nickel, or dime for our current economy.

1630Boston

@SIowhand said:
I don’t care one way or the other. There’s probably enough pennies that already exist to last another generation.

But citing the cost to make them is meaningless. That article states they spend $86M to make the penny. So? The annual budget is $6+ trillion. $86M is practically a rounding error.

Of course, trim what you can but maybe we should turn our attention to the real bloat.

A penny saved is a penny earned
boston

coinkat

The end is near for the parking lot cents threads… What will we read? What will we do?

Oh the numismatic humanity…

7Jaguars

Methinks this is but "small change" compared to what else is afoot. Duck while you can & wish more had studied history.

coinkat

Barney Fife takes aim at the penny… what could go wrong?

cladking

The entire US economy is geared toward making rich people richer even at the expense of the commonweal. Destruction to satisfy greed is good even if more is destroyed than the amount of greed satisfied. we have planned obsolescence, horrible quality in every product, continuous phone scams from India, very poor service, and a massive workforce not empowered to do their jobs.

Why should common sense suddenly begin applying to pennies. These horrid worthless slugs manifest everything wrong with the status quo. They are almost all dirty, corrupt, and corroded and they displace dollar coins from cash registers.

I doubt there's much chance of them being discontinued but I hope the government will spend a few dollars to recall them for proper disposal if they are. Otherwise most will end up in the garbage stream where they already are causing problems. We don't need more of them littering parking lots.