Australia did this in the... 90s? I wanna say 90s. We had 1c and 2c coins, but they decided it was costing too much to produce them. So they phased them out gradually I think.
this post was submitted on 10 Feb 2025
181 points (96.4% liked)
News
24749 readers
3249 users here now
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious right or left wing sources will be removed at the mods discretion. Supporting links can be added in comments or posted seperately but not to the post body.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source.
Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.
7. No duplicate posts.
If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners.
The auto mod will contact you if a link shortener is detected, please delete your post if they are right.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
founded 2 years ago
MODERATORS
I disagree in the sense most transactions are digital now and pennies are worth a penny every time they are used. If there are indication folks are trying to recover the base value of pennies then it makes sense. It will have to be done eventually though and better trump be the president that killed lincolns coin.
DOGE is shooting for optics, not actual savings. Cutting penny production is about $90M out of the $6.1T deficit. Which isn't as useful to the American people as the headline is for DOGE. Their goal is to get one of these headlines every month to make it look like they're doing something useful.
But 70% of our deficit is: Social Security, Medicare, Medicaid, Military, and Interest payments on debt.
- They can't cut interest payments, period.
- They won't cut military, obviously, but there is probably a lot of low hanging fruit here that they should be scrutinizing.
- They might cut SS or Medi*, predictably eating the faces of their base.
And if they cut literally everything except for these, we'd still run over a $4T deficit. Meanwhile, the quality of life for Americans by cutting all that will get measurably worse.
So yeah, more likely is that they'll keep aiming for random little optics opportunities, while trying to find ways to funnel more of this money to Musk and his buddies via govt contracts.
What part of the deficit is Social Security? It’s self-funded, no?
The boomer generation is getting old. There are more people drawing from SS than paying into it.
- As a result, social security has been running a deficit since 2010
- In 2023 social security made up 1.3T, or ~20% of our deficit.
- According to a report last year, at this rate the social security fund will deplete in 2035
Does that include all the money "borrowed"from SS, or the interest that is supposed to be paid for the "borrowed" money?
I do not claim to be an expert on this, just some dude with the internet, so answering that is going to be a team effort.
I'm not sure I follow what you mean by "borrowed" here. Do you mean money borrowed by the Treasury, or by people?
Or assume they're only pretending to save money and it's all about crippling our government.....
Yes, that's exactly the point I made.
This will require rounding up to the nearest nickel... Which costs $0.14 to make 🙄
Pennies should go away, but this isn’t the way to do it. Canada’s process was well thought out with lots of guidance and direction.
This is dumb and will cause lots of confusion.
Yes instead of no longer making them, there is a better way
I bring forth, "the pee pee!"
A durable replacement for the penny...a Plastic Penny! "Pee, pee!" Get it?
Trump thinks pennies are useless because he wasn't allowed to use them in a strip club.
Cool, I think this is a good idea.
Thanks to Trump, America doesn't make any cents.
Slow clap...
why does it take an executive order from someone like Donald Trump to do this? I could be wrong but I don't think there's any developed country that has a smaller denomination note. in my shithole country they simply round up to the nearest $1000
I've been throwing pennies away for years. Now I got to throw away nickels? Trump ruins another thing I liked.
I'll take your pennies!
view more: next ›