Things in America are changing quickly.
Donald Trump is leading America into a new age.
And he is cutting ties with one very old American tradition.
Donald Trump is not married to the idea of doing things in America just because they’ve always been done that way.
Trump is willing to think outside the box and make decisions that benefit the country even if they come off as controversial.
For example, past administrations have considered eliminating the U.S. penny from mint production because it costs more to produce them than the penny is worth.
But the penny has been such an inherent part of American daily life, no president was ever willing to pull the lever and get rid of them.
Trump, however, is determined and committed to saving the government money and now he says the penny has got to go.
According to the BBC, “The US Treasury Secretary Scott Bessent has been told to stop minting one-cent coins, or pennies as they are widely called, by US President Donald Trump in an announcement on his Truth Social media account.”
“It comes after Elon Musk’s unofficial Department of Government Efficiency (Doge) drew attention to the cost of minting pennies in a post on X last month.”
“While its detractors have argued that the zinc and copper coin is a waste of money and resources, those who support it say that the coin keeps prices lower and boosts fund-raising for charities.”
“Other countries have discontinued similar coins. Canada ditched its one-cent coin in 2012 citing the cost of minting it and its falling purchasing power due to higher prices,” the BBC continued.
“The declining use of cash meant the UK did not mint any new coins in 2024, after officials decided there were already enough coins in circulation.”
“The UK Treasury has said that 1p or 2p coins are not being scrapped, but with more people living cashless lives, there have been several years when no 2p coins were produced. 20p coins have also seen various periods without new minting.”
While new pennies won’t be made for circulation, existing pennies are still valid currency.
And most people use credit cards or debit cards for purchases these days anyways.
The penny just isn’t worth enough to offset the production costs.
Still, it won’t hurt to pocket that random penny when you find one.