[Dictatorship] Trump Orders Treasury Secretary to Stop Minting Pennies

FrontRunner · Feb 10, 2025

I don't much care at this point. But knowing Trump, and that he doesn't do anything unless it benefits him personally, and that much if not everything he does is misguided at best, I probably should.

I don't have much time to research/speculate at the moment, but I'm guessing mining companies stand to benefit???

Who opposes ending the penny?
The zinc industry isn’t much of a fan of the idea, nor is the pro-penny lobbyist Americans for Common Cents, which has been funded by the company that sells zinc coin blanks to the U.S. Mint. In 2006, the organization hired Britney Spears’s ex-husband, Kevin “K-Fed” Federline, to wear an Abraham Lincoln mask at a penny-pushing event in Times Square. (“Man, I feel good about the penny!” he reportedly said.) More recently, the ACC responded to a DOGE attack on the penny by insisting that eliminating the penny would waste more taxpayer money, not less, since it would require the production of more nickels:

[I]t would increase the Mint’s losses due to higher nickel production costs and the reallocation of fixed overhead expenses across remaining denominations. The logical and fiscally responsible solution is not to eliminate the penny but to focus on producing a cheaper nickel. This approach would address the real driver of losses while preserving the functionality of small denominations in everyday transactions.

It’s also not clear how grandparents who criticize their children and grandchildren for not picking up dropped pennies will feel about getting rid of the coin that nobody really wants to pick up.

Should we get rid of nickels, too?
By the same logic, yes. Five-cent coins cost 13.78 cents for the U.S. Mint to make in 2024.

https://nymag.com/intelligencer/article/trump-pennies-ban-plan-treasury-what-we-know.html
Click to expand...

Invisible Fan · Feb 10, 2025

**** Nickels

Canadians can take their Nickelback and shuv it.

juicystream · Feb 10, 2025

Space Ghost said: ↑

I would like to announce this thread has devolved into full r****d mode.
First, if you are transacting digitally, there will be no need for rounding.
Second, cash once got you a 3% discount and you idiots are raging they will round up 2 pennies on a cash transaction. If you're going to boycott a business over 2 cents ...
Click to expand...

Fwiw, those cents do matter to low cost items such as Dollar Tree items. But how many businesses required exact change during COVID coin shortage? If retailers can do that, it seems possible to just leave small change altogether.

Andre0087 · Feb 22, 2025

Forums

[Dictatorship] Trump Orders Treasury Secretary to Stop Minting Pennies

FrontRunner Member

Invisible Fan Member

juicystream Member

Andre0087 Member

Share This Page

About ClutchFans

Rockets Content

Support ClutchFans!