They're still going to be around. Otherwise, the entire US accounting system will have to be adjusted to ensure everything ends up in totals divisible by 5. Tax rates and prices of goods will change, and I doubt they'd decrease.
That would imply that all the different levels of government and businesses are capable of using common sense. I've been working for more than 35 years with time in both the public and private sector. Common sense is very uncommon here.
I work for a county gov't in admin and the logs I turn in to claims need to balance to the penny, not the nickle, FFS. As long as prices + taxes use the penny, I will be reconciling my books to the penny.
I’m scared. I’m married to my husband and the only thing stopping them from taking that away is a Supreme Court ruling, and we see where this administration is on violating people’s constitutional rights
The treasury decides to mint coins based on the need for it, though. And Congress has bipartisan support for its removal too. It should also be noted that they are not discontinuing the penny as a currency but stopping production. Discontinuing would require Congress while the production would not
This is simply another way to generate/collect mass profits by NOT allowing people (.01). For instance, if something is $5.99, & there's NO method to pay $5.99 — I must give $6. It might seem like a miniscule amount; however, US Pop is @ 346.8 million — multiply BILLIONS of transactions. -ONE.💰💵💰
That would be impossible, yet there are those times... I don't think that embracing this "totally digitized currency model" is going to be advantageous...-ONE.💯
Anything to stop people from thinking about Lincoln. Next he’ll re-sculpt the Lincoln Memorial into an image of himself and add his own face to Mt. Rushmore.
No one has given this any thought. Prices now go up, because they aren’t going to round down to the nickel. They will round up. And Trump will somehow find a way to put those 2c per dollar in his wallet.
Paying with cash should be lauded and encouraged, not punished even by an extra two cents. Privacy should be seen as a good and moral thing ... we don't need more bankster and government control of society.
I didn’t say it wouldn’t work. I said we will be stripped of more money for every freaking thing. We still calculate sales taxes to a 1/4 of a penny per dollar.
It’s a good idea in concept, but there’s probably millions of Americans who have to go to coin star machines to afford food/pay the rest of their bills and save every single cent they get for that. This kinda just makes it harder for them.
Making collecting pennies a more lucrative hobby for coin collectors by ending the use of them, wasn't a well thought out idea by Trump. Pennies are worth more because they will be going out of production, will also increase their value for collectors in America and around the world. DOH! 💙🇺🇸💙
Comments
https://www.wjhl.com/news/local/nations-sole-penny-blank-manufacturer-in-greene-county-could-be-impacted-by-proposal-to-stop-producing-pennies/#:~:text=Video-,Nation's%20sole%20penny%20blank%20manufacturer%20in%20Greene%20County%20could%20be,proposal%20to%20stop%20producing%20pennies&text=TUSCULUM%2C%20Tenn.,blanks%20in%20the%20United%20States.
Now we can’t have Pennies because some Convicted Felon doesn’t like the coin. C’mon.
@petebuttigieg.bsky.social
Naw, they'll just tell you what you don't want to hear and then say they owe you one lol.
Tho I'm still a fan of burning the rich's cash to reverse inflation
I'm switching to Euros.