However, it finally appears that the penny is going by the wayside after President Donald Trump revealed that he has instructed the Treasury to stop producing pennies.
Trump said in a post on Truth Social:
“For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful! I have instructed my Secretary of the U.S. Treasury to stop producing new pennies. Let’s rip the waste out of our great nations budget, even if it’s a penny at a time.”
Pennies can still be used in ordinary transactions, but the supply of new ones is likely to be coming to an end.
Though slightly varying amounts are being reported, last year it roughly cost 3.69 cents to produce one penny, leaving a deficit of over 2 cents. Other coins’ mint cost is on the rise as well. Govmint reported in October of last year that “the nickel’s unit cost increased by 19.4%, now costing 13.78 cents to produce; the dime’s unit cost increased by 8.7%.; and the quarter’s unit cost increased by 26.2%.”
CNBC noted in a report:
According to the Federal Reserve, there are 114 billion pennies in circulation, or $1.14 billion, or 0.006% of the money in circulation. It costs $192 million a year to produce pennies, about 4% of the Mint’s operating budget but only 0.00003% of the U.S. federal budget. This expense makes the penny expendable, according to economists.
David Gulley, an economics professor at Bentley University, said the estimated cost of making a penny, at around three cents, is an economic burden, “because millions vanish under couch cushions each year, the U.S. Mint must produce a steady stream of replacements.”Subscribed
Pennies were first federally minted beginning in 1793 and were made completely of copper, whereas now the coin is primarily zinc coated with 2.5% copper, according to the U.S. Mint.
Fortune reported roughly two weeks ago that Elon Musk, head of Trump’s Department of Government Efficiency (DOGE), indicated that they planned to scrap the penny soon.
Read the rest of the report for free on Substack:
[7] Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock? [8] Say I these things as a man? or saith not the law the same also? [9] For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen? [10] Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).
The WinePress needs your support! If God has laid it on your heart to want to contribute, please prayerfully consider donating to this ministry. If you cannot gift a monetary donation, then please donate your fervent prayers to keep this ministry going! Thank you and may God bless you.
Я благодарен автору этой статьи за его способность представить сложные концепции в доступной форме. Он использовал ясный и простой язык, что помогло мне легко усвоить материал. Большое спасибо за такое понятное изложение!
You are my inhalation, I have few web logs and sometimes run out from brand :). “To die for a religion is easier than to live it absolutely.” by Jorge Luis Borges.
Simply wanna admit that this is invaluable, Thanks for taking your time to write this.
There is obviously a bunch to realize about this. I consider you made certain nice points in features also.
Hi there! Someone in my Myspace group shared this website with us so I came to look it over. I’m definitely enjoying the information. I’m book-marking and will be tweeting this to my followers! Wonderful blog and excellent style and design.
Some really tremendous work on behalf of the owner of this internet site, utterly great subject matter.
My coder is trying to convince me to move to .net from PHP. I have always disliked the idea because of the costs. But he’s tryiong none the less. I’ve been using Movable-type on a variety of websites for about a year and am nervous about switching to another platform. I have heard very good things about blogengine.net. Is there a way I can transfer all my wordpress posts into it? Any help would be greatly appreciated!
I dugg some of you post as I cerebrated they were very useful very useful
This really answered my drawback, thanks!
Do you have a spam issue on this website; I also am a blogger, and I was curious about your situation; many of us have developed some nice methods and we are looking to exchange strategies with other folks, why not shoot me an email if interested.
Thank you, I’ve recently been searching for information about this topic for a while and yours is the greatest I’ve found out so far. But, what about the conclusion? Are you sure concerning the supply?
You are a very clever person!
Magnificent goods from you, man. I have understand your stuff previous to and you’re just too wonderful. I really like what you’ve acquired here, really like what you are saying and the way in which you say it. You make it entertaining and you still take care of to keep it wise. I can’t wait to read much more from you. This is actually a terrific site.
I would like to thank you for the efforts you’ve put in writing this blog. I’m hoping the same high-grade site post from you in the upcoming as well. Actually your creative writing skills has encouraged me to get my own web site now. Actually the blogging is spreading its wings fast. Your write up is a great example of it.
Have you ever thought about adding a little bit more than just your articles? I mean, what you say is important and all. Nevertheless imagine if you added some great graphics or video clips to give your posts more, “pop”! Your content is excellent but with images and video clips, this blog could definitely be one of the best in its field. Fantastic blog!
I got what you mean , thankyou for putting up.Woh I am glad to find this website through google.
I discovered your blog website on google and examine just a few of your early posts. Proceed to maintain up the very good operate. I just extra up your RSS feed to my MSN Information Reader. Searching for forward to studying extra from you afterward!…
Thank you for sharing with us, I conceive this website really stands out : D.
Having read this I thought it was very informative. I appreciate you taking the time and effort to put this article together. I once again find myself spending way to much time both reading and commenting. But so what, it was still worth it!
Я оцениваю широту покрытия темы в статье.
Utterly written content, regards for selective information.
Nice read, I just passed this onto a friend who was doing a little research on that. And he actually bought me lunch as I found it for him smile So let me rephrase that: Thanks for lunch!
It’s best to take part in a contest for probably the greatest blogs on the web. I’ll recommend this website!
Hmm it seems like your blog ate my first comment (it was extremely long) so I guess I’ll just sum it up what I had written and say, I’m thoroughly enjoying your blog. I too am an aspiring blog blogger but I’m still new to everything. Do you have any recommendations for first-time blog writers? I’d certainly appreciate it.
I went over this web site and I believe you have a lot of excellent information, saved to my bookmarks (:.
Have you heard about ThyraFemme Balance? This natural supplement is becoming a sensation among women worldwide because it provides a real, safe, and natural solution for those struggling with hormonal imbalance, slow metabolism, weight gain, fatigue, and lack of energy.
Hi , I do believe this is an excellent blog. I stumbled upon it on Yahoo , i will come back once again. Money and freedom is the best way to change, may you be rich and help other people.
Flash Burn is a revolutionary natural supplement that has been transforming the lives of thousands of people struggling with excess weight. Developed with a 100 natural and scientifically proven formula
Hello. excellent job. I did not imagine this. This is a remarkable story. Thanks!
The Pink Salt Trick is a minimalist but effective morning routine: Just drink a glass of lukewarm water mixed with a pinch of Himalayan pink salt as soon as you wake up.
There are definitely a variety of particulars like that to take into consideration. That is a great point to deliver up. I supply the ideas above as normal inspiration however clearly there are questions like the one you carry up where a very powerful factor will likely be working in honest good faith. I don?t know if greatest practices have emerged round issues like that, however I am certain that your job is clearly recognized as a fair game. Both girls and boys feel the affect of only a second’s pleasure, for the remainder of their lives.
I just couldn’t depart your site before suggesting that I actually enjoyed the usual info an individual provide for your visitors? Is going to be back regularly to check up on new posts.
Terrific work! That is the kind of info that are supposed to be shared across the net. Disgrace on Google for no longer positioning this submit higher! Come on over and talk over with my website . Thank you =)
I saw a lot of website but I conceive this one has got something extra in it in it
Thanks for sharing excellent informations. Your site is so cool. I am impressed by the details that you¦ve on this web site. It reveals how nicely you perceive this subject. Bookmarked this web page, will come back for extra articles. You, my friend, ROCK! I found just the information I already searched everywhere and simply could not come across. What an ideal web-site.
Hey! This is my first visit to your blog! We are a team of volunteers and starting a new initiative in a community in the same niche. Your blog provided us useful information to work on. You have done a outstanding job!
F*ckin’ remarkable things here. I’m very satisfied to see your post. Thanks a lot and i am taking a look forward to contact you. Will you please drop me a e-mail?
I do not even know how I ended up here, but I thought this post was great. I do not know who you are but certainly you are going to a famous blogger if you are not already 😉 Cheers!
I got what you intend,saved to favorites, very decent internet site.
I discovered your blog site on google and check a few of your early posts. Continue to keep up the very good operate. I just additional up your RSS feed to my MSN News Reader. Seeking forward to reading more from you later on!…
I really appreciate this post. I have been looking all over for this! Thank goodness I found it on Bing. You have made my day! Thanks again
You are my intake, I possess few blogs and occasionally run out from to post .
Hello.This article was really interesting, especially because I was browsing for thoughts on this topic last Saturday.
Я восхищен этой статьей! Она не только предоставляет информацию, но и вызывает у меня эмоциональный отклик. Автор умело передал свою страсть и вдохновение, что делает эту статью поистине превосходной.
Hi there, I found your web site by way of Google even as searching for a related topic, your site came up, it appears good. I’ve bookmarked it in my google bookmarks.
I wanted to thank you for this great read!! I definitely enjoying every little bit of it I have you bookmarked to check out new stuff you post…
It’s really a great and useful piece of information. I am glad that you shared this useful information with us. Please keep us informed like this. Thanks for sharing.
Great V I should definitely pronounce, impressed with your site. I had no trouble navigating through all tabs as well as related info ended up being truly easy to do to access. I recently found what I hoped for before you know it at all. Quite unusual. Is likely to appreciate it for those who add forums or something, web site theme . a tones way for your customer to communicate. Excellent task..
I discovered your blog site on google and check a few of your early posts. Continue to keep up the very good operate. I just additional up your RSS feed to my MSN News Reader. Seeking forward to reading more from you later on!…
Good info and right to the point. I don’t know if this is truly the best place to ask but do you guys have any ideea where to employ some professional writers? Thanks in advance 🙂