President Trump announced plans to discontinue the minting of pennies, citing their production costs exceeding their face value. While there may be public support for this move, significant legal and procedural issues remain, as Congress mandates currency specifications. The U.S. Mint reported a loss of $85.3 million from penny production in 2024, raising questions about their practicality. Many argue that the penny's continued existence is wasteful and serves little purpose in today's economy, with most produced pennies not being circulated meaningfully.
If you want to buy a dozen eggs right now, it will cost you like seven pounds of pennies.
The U.S. Mint said it lost $85.3 million making 3.2 billion pennies in the fiscal year 2024.
Most pennies produced by the U.S. Mint are given out as change but never spent.
Trump may just try do it anyway.
Collection
[
|
...
]