And what country can preserve its liberties if their rulers are not warned from time to time that their people preserve the spirit of resistance? Let them take arms. The remedy is to set them right as to facts, pardon and pacify them. What signify a few lives lost in a century or two? The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants.
Wednesday, November 12, 2025
IT'S OFFICIAL: The US Mint will officially STOP minting pennies. Today, the LAST Penny will be minted!
In FY2024 a penny cost about 3.69 cents to make, and total losses on the production of pennies were about $85 million in that year.
Nickels, dimes and quarters cost even more, proportionally, than pennies. Ar we gonna get rid of them, too? This is asinine and stupid.....unless you are gonna use it as a wedge to start banning cash eventually.
Even coining pennies from copper-washed zinc in 1982 wasn't enough to make them worth minting, but a penny lasts for decades, we just have to start putting them into circulation again instead of leaving them in bottles and jars.
I know. I had + $300 in pennies in a 5 gal plastic water jug in my basement for years. I couldn't take the time to wrap them until I was ready to move. I had the 10 and 12 year olds next door do it and I split it with them.
Right now, scrapping and melting copper pennies is against the law. That is subject to change, soon. Lots of folks hoarded copper cents, they'll scrap them. I'm hanging on to my collection (hoard) to sell as collectibles. No wheats or Indians but the rest are unsearched for errors. Just like silver coins back in the day copper cents will become scarce. That's the plan and you know plans...subject to change.
One more bump for inflation. That $3.47 coffee will now become a $3.50 or $4.00 coffee. The same thing happened in Europe when countries with currencies with very low unit value adopted the Euro(Spanish pesetas, Italian liras, etc). At launch 1 euro=166.6 Spanish pesetas. Meaning that a 270 pesetas item was now 1.62 Euros because smaller denomination coins weren't available everyone rounded up to 1.75 or 2 Euros. Effectively things became more expensive because coins weren't available.
You may argue "who cares I pay with credit card" but the person setting the price cares and has to have coins for the one person per day that may pay cash and thus we will all pay more regardless of payment method and inflation will keep ticking up .
Up here in the formerly great white north they rounded up (mostly) or down (seldom it seems) when they got rid our 7 tenths of a penny? And yes the price of things subtly inflated
Since when has the gov't ever been concerned with saving money or losses on production?
ReplyDeleteThey better places to piss away taxpayers money they tnink
DeleteSo what? You can use a penny for decades.
ReplyDeleteNickels, dimes and quarters cost even more, proportionally, than pennies. Ar we gonna get rid of them, too?
This is asinine and stupid.....unless you are gonna use it as a wedge to start banning cash eventually.
I’d be happy if the petroleum boys would just get rid of that fractional penny at the pump.
DeleteThat's not the oil guys. That's taxes.
DeleteThe original gas tax was .9c. They keep it sos it sounds cheaper.
DeleteEven coining pennies from copper-washed zinc in 1982 wasn't enough to make them worth minting, but a penny lasts for decades, we just have to start putting them into circulation again instead of leaving them in bottles and jars.
ReplyDeleteI know. I had + $300 in pennies in a 5 gal plastic water jug in my basement for years. I couldn't take the time to wrap them until I was ready to move.
DeleteI had the 10 and 12 year olds next door do it and I split it with them.
Moving is a good motivator to get rid of coins, boxes of nails/screws/and other hardware, books, and anything heavy. Movers charge pounds per mile.
DeleteI put my bucket of pennies on the porch for Halloween. Kids love it.
DeleteA penny is worth 1 100th of a dollar, no matter what. We are seeing the devaluation of our dollar in a neat package.
ReplyDeleteBlame the Federal Reserve 100%. END THE FED!
ReplyDeleteRight now, scrapping and melting copper pennies is against the law. That is subject to change, soon. Lots of folks hoarded copper cents, they'll scrap them. I'm hanging on to my collection (hoard) to sell as collectibles. No wheats or Indians but the rest are unsearched for errors. Just like silver coins back in the day copper cents will become scarce. That's the plan and you know plans...subject to change.
ReplyDeleteOne more bump for inflation. That $3.47 coffee will now become a $3.50 or $4.00 coffee.
ReplyDeleteThe same thing happened in Europe when countries with currencies with very low unit value adopted the Euro(Spanish pesetas, Italian liras, etc). At launch 1 euro=166.6 Spanish pesetas. Meaning that a 270 pesetas item was now 1.62 Euros because smaller denomination coins weren't available everyone rounded up to 1.75 or 2 Euros. Effectively things became more expensive because coins weren't available.
You may argue "who cares I pay with credit card" but the person setting the price cares and has to have coins for the one person per day that may pay cash and thus we will all pay more regardless of payment method and inflation will keep ticking up .
The nickel is a big money loser too but the Mint makes up for those losses on dimes and quarters.
ReplyDeleteUp here in the formerly great white north they rounded up (mostly) or down (seldom it seems) when they got rid our 7 tenths of a penny? And yes the price of things subtly inflated
ReplyDelete