topic Re: No more pennies in Community Chat

No more pennies

mormel20 — Thu, 22 May 2025 23:05:42 GMT

I hear they are going to stop making pennies. They say it cost 4 cents to make a 1 cent penny.

Re: No more pennies

Q-Checker — Thu, 22 May 2025 23:19:44 GMT

"They" is the .U.S.Treasury Department. Businesses will no longer be permitted to charge amounts which require pennies. Prices will have to be adjusted up or down to the nearest nickel. Can you guess which way they will go?

Re: No more pennies

Effie54 — Thu, 22 May 2025 23:20:21 GMT

@mormel20 wrote:
I hear they are going to stop making pennies. They say it cost 4 cents to make a 1 cent penny.

@mormel20 I saw that and though....am I going to round up to a nickel? I understand why though.

Re: No more pennies

Mersha — Thu, 22 May 2025 23:27:49 GMT

I think I better get rid of all the pennies I hoarded in a can in the closet ASAP.

Re: No more pennies

shoekitty — Thu, 22 May 2025 23:33:36 GMT

I guess we can now throw our 2:cents In! Lol

Re: No more pennies

Q-Checker — Fri, 23 May 2025 00:51:31 GMT

Pennies will continue to be legal tender for now, but I am guessing that businesses will not welcome them. @Mersha -- So, good idea to divest yourself of your pennies and maybe buy yourself a treat with your saved pennies?

Re: No more pennies

Marp — Thu, 22 May 2025 23:36:57 GMT

@mormel20 wrote:
I hear they are going to stop making pennies. They say it cost 4 cents to make a 1 cent penny.

So it will cost us more, but only if using cash, so "they" can save a few cents.

The nickel will take the place of pennies at a cost of approximately 13.78 cents to produce a nickel in 2025.

Four pennies at 3.7 cents each costs about one penny more than the cost of one nickel.

Guess it makes sense to someone.

Re: No more pennies

Marp — Thu, 22 May 2025 23:40:01 GMT

@Q-Checker wrote:
Pennies will continue to be legal tender for now, but I am guessing that businesses will not welcome them. So, good idea to divest yourself of your pennies -- maybe buy yourself a treat with your saved pennies?

I have a jar full of wheat pennies that hasn't been added to since the early 1980s. I think I will continue to hold onto them.

Re: No more pennies

Mersha — Thu, 22 May 2025 23:46:39 GMT

I guess I will hold on to the JFK half dollars in a box where they have been for more years than I care to remember.

Re: No more pennies

Tinkrbl44 — Fri, 23 May 2025 00:55:37 GMT

@mormel20 wrote:
I hear they are going to stop making pennies. They say it cost 4 cents to make a 1 cent penny.

@mormel20

i think it's a dumb idea.

We shouldn't lose financial flexibility when it comes to commerce.

After that, "they" decide we no longer need nickels, dimes or quarters? Uh uh.

Re: No more pennies

shoekitty — Fri, 23 May 2025 00:57:07 GMT

@Marp wrote:
@Q-Checker wrote:
Pennies will continue to be legal tender for now, but I am guessing that businesses will not welcome them. So, good idea to divest yourself of your pennies -- maybe buy yourself a treat with your saved pennies?
I have a jar full of wheat pennies that hasn't been added to since the early 1980s. I think I will continue to hold onto them.

@Marp Me too, I have containers and containers . Not just from what I saved up over years and haven't looked at, but my mom and my step fathers collections! Maybe value of Pennie's will go up?

Re: No more pennies

Tinkrbl44 — Fri, 23 May 2025 01:04:32 GMT

@shoekitty wrote:
@Marp wrote:
@Q-Checker wrote:
Pennies will continue to be legal tender for now, but I am guessing that businesses will not welcome them. So, good idea to divest yourself of your pennies -- maybe buy yourself a treat with your saved pennies?
I have a jar full of wheat pennies that hasn't been added to since the early 1980s. I think I will continue to hold onto them.
@Marp Me too, I have containers and containers . Not just from what I saved up over years and haven't looked at, but my mom and my step fathers collections! Maybe value of Pennie's will go up?

@shoekitty

There could actually be some rare coins in there.

Have you any small people in your family that might need a special project for the summer, one container at a time?

If they come up with anything valuable, you could give them a commission.

Re: No more pennies

shoekitty — Fri, 23 May 2025 01:11:09 GMT

@Tinkrbl44 I know there are. Some steel war Pennie's, some wheats and a few others also a couple going back to 1800's. They look totally different. I need to go through them. It's fun, just haven't thought about it in a while. My step father was a coin enthusiast. So there are tons of silver dollars, half pieces, and dimes and such. I would like to take to coin collector. I had one, when I inherited them 6 years ago, lol but I waited and went to call him , he had passed. I need to do that with coins and old costume jewelry. Any suggestions on where to head, I'm all ears. I'm in Santa Clara county

Re: No more pennies

occasionalrain — Fri, 23 May 2025 04:04:02 GMT

In some states it will increase the sales tax. Suppose the tax is 7% now so a dollar item would be $1.07 but in future it would be $1.10. Will the state get the 3 cents or the store. Will stores have to adjust their prices so an item that was a dollar will need to be changed to $1.03. I think eliminating pennies ill-advised.

Re: No more pennies

CalminHeart — Fri, 23 May 2025 11:27:43 GMT

This has been talked about for at least a couple of decades. The down side is that businesses will round up so everything will cost a few pennies more.

Re: No more pennies

UpNorthGorgy — Fri, 23 May 2025 11:38:43 GMT

My sales tax is 6 1/2% in WI with the half % County. Tourism brings in alot with this small amount that adds up.

Re: No more pennies

Carmie — Fri, 23 May 2025 12:32:57 GMT

When was the last time you used cash?

I doubt anyone is going to miss a penny. Also, if they're no longer made, that doesn't mean you can't use the ones already in circulation.

Many of us, including me, have been hoarding coins in jars for years. They will always be legal tender and the copper ones will become more valuable. The newer ones are mostly made from zinc. The ones older than 1982 are copper and will become valuable to collectors.

In time, cash will no longer be used at all. There are already places that will no longer want to accept it.

It's just another thing that we will get over. I haven't used a Susan B Anthony, 50 cents or dollar coin in years, but they are still legal tender.

Re: No more pennies

CelticCrafter — Fri, 23 May 2025 12:44:21 GMT

@Carmie wrote:
When was the last time you used cash?

I doubt anyone is going to miss a penny. Also, if they're no longer made, that doesn't mean you can't use the ones already in circulation.

Many of us, including me, have been hoarding coins in jars for years. They will always be legal tender and the copper ones will become more valuable. The newer ones are mostly made from zinc. The ones older than 1982 are copper and will become valuable to collectors.

In time, cash will no longer be used at all. There are already places that will no longer want to accept it.

It's just another thing that we will get over. I haven't used a Susan B Anthony, 50 cents or dollar coin in years, but they are still legal tender.

@Carmie All the time...

Re: No more pennies

We rescue cats — Fri, 23 May 2025 12:53:31 GMT

And yet more and more businesses are charging more if a customer uses a card. . . sort of puts us in between a rock and hard place. We pay cash whenever possible, I do not want my spending on record.

Re: No more pennies

Krimpette — Fri, 23 May 2025 12:54:37 GMT

I have no intention to dispose fo my pennies. Maybe they'll be worth something some day.