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[YCoCg]

It's always made sense, if it costs more to make then it's worth then phase it out, just keep the old ones in circulation.

 

[daffyduck]

This sounds racist and transphobic.

Clearly an idea suggested by Facist Incels.

 

[DKehoe]

Makes sense. Seems weird to go through all the effort of making them when they don't really serve a function these days.

 

[Jsisto]

This is a coin-stitutional crisis.

 

[Trogdor1123]

Canada did it long time ago. Nobody cared and life goes on.

What happened was all payments using cash are rounding up or down to the nearest nickel. So $6.72 is rounded down to $6.70, and $6,73 is rounded up to $6.75. But if you pay digitally, the exact amount is billed (ie. $6.72).

Great change. No more pennies bogging down your pocket if someone if someone likes paying cash.

Came to post this. It made zero difference.

 

[RoboFu]

The copper in a penny is probably quickly becoming worth more than the penny itself.

 

[Nydius]

How much copper is in a penny these days? I know pre-1964 coins (dimes and quarters anyway) are valued for their silver content, wonder if pennies will become worth it for copper harvesting. Nickles....we've probably minted enough to last us a generation or two.

Since 1982, almost none. The composition of the penny was changed that year to 97.5% zinc, 2.5% copper.

I don't run across very many pre-1982 95% copper/5% zinc pennies anymore.

 

[DeceptiveAlarm]

Thank God. I hate change to begin with and pennies are outright ridiculous.

 

[Darkmakaimura]

Read this as....

Treasury Transforms to New Identity, As Your Penis Will Be Cut Off to Reduce Waste

 

[Mr Reasonable]

I could also make the comment it'd be great if we just got rid of cents completely. Hopefully that would stop software developers from storing money as floats.(For those that don't program the vast majority of software developers don't know what floats are for. It's rare for any explanation of floats to even come close to what they're for.)

Explained perfectly.

 

[tamago84]

Doesnt make sense to keep making pennies when cost is becoming greater than its value

 

[-Minsc-]

I see the United States of America is taking the next step towards becoming a part of Canada.

 

[Mattyp]

Pennies and Nickels are worth less than the material to make them and should be phased out together.

As someone who travels US often they both need to go.

 

[Tertullian]

Based TBH. Hell, get rid of nickels and dimes too and start rounding everything to the nearest $0.25.

 

[AJUMP23]

I am going to be hoarding all the pennies I have now. I want the last penny off the line.

 

[Rentahamster]

 

[DeepEnigma]

This is a great point. I struggle to fit my Pennies into my pants very well, this will help with that!

You're supposed to put them in your loafers,

The copper in a penny is probably quickly becoming worth more than the penny itself.

It is. It costs us I think a little over 2 cents for every 1 cent to make.

 

[IntentionalPun]

Finally we'll be able to answer the "is that a roll of pennies in your pocket?" question definitively.

 

[DownLikeBCPowder]

Honestly this should have happened a long time ago - many years the penny has cost more to produce than the value.

 

[Ecotic]

So, interesting story. Years ago I used to make a reliable $1,000 or so by going around to some banks in early February and asking for a $25 box of pennies. This was a free request most banks would do for me. Now, about half of the time the pennies wouldn't be re-circulated old pennies, instead the boxes would be 100% shiny new pennies fresh from the mint. These boxes of new pennies would go out in late January and could only be found for a limited time at banks thereafter before the banks opened them and they went out for public use. The boxes could fetch between $75 and $100 on ebay from collectors who wanted the new year's pennies in mint condition.

Anyway, if this is indeed the last of the penny and the order to cease minting new pennies came in early February, then there could be a very limited amount of 2025 pennies that were made in January. And I bet if I can get those boxes of 2025 uncirculated pennies this time, they'll be worth a lot more than what I used to get for them.