Community Chat

[mormel20]

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

[Q-Checker]

"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? 

[Effie54]

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@mormel20 wrote:

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

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

[Mersha]

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

[shoekitty]

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

[Q-Checker]

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?

[Marp]

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@mormel20 wrote:

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

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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.

[Marp]

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@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?

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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.

[Mersha]

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.

[Tinkrbl44]

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@mormel20 wrote:

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

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@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.