President Trump instructs the US Treasury to stop minting new pennies

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The penny costs over 3 cents to make and cost US taxpayers over $179 million in FY 2023.

The Mint produced over 4.5 billion pennies in FY 2023, around 40% of the 11.4 billion coins for circulation produced.

Penny (or 3 cents!) for your thoughts.

Sources:

https://jmbullion.com/investing-guide/numismatics/cost-of-producing-a-penny/…


https://coinnews.net/2024/01/19/u-s-mint-produces-11-38-billion-coins-for-circulation-in-2023-lowest-since-2012/



https://twitter.com/x/status/1881928086305870127
View: https://x.com/DOGE/status/1881928086305870127
 
For the Record: I am NOT in favor of Presidents issuing dictates as if they are kings.

The Constitution is over, we shall not get it back, its way too late for that.
 
Hawkeye10 said:
For the Record: I am NOT in favor of Presidents issuing dictates as if they are kings.

The Constitution is over, we shall not get it back, its way too late for that.
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It's never too late. Don't you ever read Lesion's signature?
 
Maybe they should look into making dollar/5 /10/20 /50 100 dollar coins
A penny has a life of from 20 to 30 years , a dollar bill has a life of 6.6 years , a five has a life of 4.7 years a ten has a life of 5.3 years.
at a cost of 3 cents for a penny that lasts 20 to 30 years and about 6 cents for a dollar bill that lasts 6.6 years looks like minting coins is the cheapest way to go and they last a lot longer.
 
Tbird19482 said:
Maybe they should look into making dollar/5 /10/20 /50 100 dollar coins A penny has a life of from 20 to 30 years , a dollar bill has a life of 6.6 years , a five has a life of 4.7 years a ten has a life of 5.3 years. at a cost of 3 cents for a penny that lasts 20 to 30 years and about 6 cents for a dollar bill that lasts 6.6 years looks like minting coins is the cheapest way to go and they last a lot longer.
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Maybe Trump bitcoins are the answer.
 
Felonious Trump's move to get rid of the penny is a good one for a simple reason: The penny costs three times its nominal value to produce.

But while we're talking about it, let's also talk about cutting the nickel, which costs more than two times its nominal value to make!


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Another neat fact is that pennies are – or shortly, *were* –the most commonly minted type of coin.

The nickel is comparatively minor, and outdone by the dime and the quarter.


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