this post was submitted on 10 Feb 2025
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(page 3) 35 comments
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[–] [email protected] 14 points 2 days ago* (last edited 2 days ago) (2 children)

oh, shit. i believe i found out why he's so against the penny now...

The Circulating Collectible Coin Redesign Act of 2020 (Pub. L. 116–330 (text) (PDF)) was signed by President Donald Trump on January 13, 2021. It provides for, among other things, special one-year designs for the circulating coinage in 2026, including the cent, for the United States Semiquincentennial (250th anniversary), with one of the designs to depict women.[98]

(emphasis added by me)

from wikipedia

it's an episode 1 bill, that he signed, that would have put a woman or women on the penny (special designs, like the state quarters) and other coins for a year (2026). penny is the cheapest to acquire and horde, and far more are minted than all others combined.

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[–] [email protected] 3 points 2 days ago* (last edited 1 day ago)

Picking up pennies in front of a steamroller

[–] [email protected] 13 points 2 days ago (1 children)

The only reason we still have pennies is the zinc mining companies bribing Congress. They’re the only losers here. (And they aren’t just going to close the zinc mines. So, the workers/miners probably won’t even be hurt. Just some owners/shareholders.)

[–] [email protected] 10 points 2 days ago

bribing Congress

exactly.

i'm all for getting rid of it. but this goes through congress, first. then they send it to the white house for a signature.

a president, and i don't give a fuck who it is, can't rewrite legislation, or the constitution, whenever or however the fuck they want.

[–] [email protected] -3 points 2 days ago (1 children)

Does anyone else think he just screwed retailers because they no longer can offer any item for x.99? Do you think he thought it out that far, lol

[–] [email protected] 5 points 2 days ago (2 children)

Chances are the practice will just be to round to the nearest 5¢ on cash transactions. Is it actually worth the time to worry about a few cents on the handful of cash transactions in a day?

[–] [email protected] 3 points 2 days ago

They already do this at military commissaries (base grocery stores)

[–] [email protected] -4 points 2 days ago (4 children)

in the united states, what the advertised price is, is what you pay, else it's fraud, we don't "round to" here, lol. regardless the confusion and psychological tool the retailers have employed litteraly forever in american business has just been thrown into chaos, and major corps are going to start freaking out about it. and yeah, it's a very big deal.

[–] [email protected] 1 points 2 days ago

Also trump orders astronauts to use pencils like the Russians do. That's $10,000.00 per space pen. Hooch savings hooch!

[–] [email protected] 11 points 2 days ago (6 children)

Honestly OK with this. Do the Nickel and Dime next. Quarters, Half Dollars, and Dollar coins are the only thing we need at this point.

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[–] [email protected] 12 points 2 days ago

Canada did it first...

[–] [email protected] 54 points 2 days ago

Good job broken clock

[–] [email protected] 5 points 2 days ago

Everyone start hoarding pennies.

[–] [email protected] 22 points 2 days ago (1 children)

donald trump can have my ass pennies, I'm sure he's used some of them already

[–] [email protected] 16 points 2 days ago

He just doesn't like the face on them.

[–] [email protected] 182 points 2 days ago (11 children)

I mean, this is actually valid. Pennies cost more than a penny to make. I don't think anyone likes pennies. I wish we'd done this a long time ago; it's not the first time it's been discussed. First thing I've heard of Trump wanting to do that didn't piss me off, to be honest.

[–] [email protected] 11 points 2 days ago (1 children)

It’s a valid thing we should have done a while ago, but can the president actually just do it? I mean, I know he “can” if people let him but, like, doesn’t that in theory require an act of Congress?

[–] [email protected] 7 points 2 days ago (6 children)

I don't think he can. If he somehow illegally forces the US Mint to stop making pennies, it doesn't solve the problem that no law allows stores to just round to the nearest 5 cents. Congress would need to pass that first.

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[–] [email protected] 15 points 2 days ago

We did it in Canada a while ago and it’s been fine.

[–] [email protected] 21 points 2 days ago (2 children)

I'm not sure the cost to make vs value is really the best measurement, within reason. At the end of the day society gets a tool to measure a unit of wealth to easily transfer, and there is value in having that.

That said! Yeah. The US had a half-penny until 1857. I can look at an inflation calculator that only goes back to 1913, and half a penny then was worth 16¢ today. We don't need the penny anymore.

[–] [email protected] 13 points 2 days ago (1 children)

We don't need the nickel or dime either.

[–] [email protected] 12 points 2 days ago (1 children)

megacorps can't nickel and dime us if we have no nickels.. or dimes.. economy fixed!

can't give someone your two cents worth if you haven't got two pennies to give. free speech should obviously cost more than that, anyhow. apparently that price is somewhere between $15 million and $20 billion.

[–] [email protected] 2 points 2 days ago

We know that freedom cost a buck o' five so the nickle may be next on the chopping block.

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[–] [email protected] 41 points 2 days ago* (last edited 2 days ago) (2 children)

The last coin to be removed from circulation was the half penny, or hay-penny. At the time they stopped minting it, it had the buying power of 18 cents.

We could stop minting pennies, nickels, and dimes, all of which cost more than their face value to mint.

Trump is a fucking moron and a fascist, but rapist clocks are right twice a day.

Edit: I looked it up, and I was wrong. The dime does not cost more to mint than its face value, but the penny and the nickel do. The dime is still functionally worthless, and could easily be removed from circulation without affecting commerce.

[–] [email protected] 10 points 2 days ago (2 children)

I had a weird pluto-esque reaction, like, 'aw, but dimes are my favorite!' I didn't even know I had a favorite. Why???

I think if it'd be more practical to get rid of them, we should.

[–] [email protected] 19 points 2 days ago* (last edited 2 days ago) (1 children)

Dimes would make a fine choice for the smallest denomination. You could still divide dollars to the nearest tenth of a dollar, which is more than sufficient. They have no buying power by themselves, but a stack can buy something.

A stack of pennies is still garbage.

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[–] [email protected] 61 points 2 days ago* (last edited 2 days ago) (2 children)

he don't actually care about that. he'd figure some way to make 'em cost even more, so he can take a cut of the action.

he's just got a beef with lincoln.. for reasons

but for now, lets just toss this on the pile of things he's doing or saying without legislative authority.

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[–] [email protected] 6 points 2 days ago (2 children)

Let's hope this is not an omen of rising inflation.

[–] [email protected] 13 points 2 days ago (1 children)

Canada did it years ago.

Ends up being a benefit for companies since they ensure that all prices inevitably round up when you use cash.

Other than that it's a non issue if you don't use cash.

[–] [email protected] 4 points 2 days ago

Whenever I get pennies (or any change less than a quarter, really, and only then because quarters are useful for vending machines), it goes into the 'Take a penny, leave a penny' cup or a tip jar anyway. I use cash rarely enough as it is and I hate having change in my pocket.

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