espaciopantalones
1847
62
18
Even a stopped clock is right twice a day. Let’s kills pennies and then dollars. Replace dollars with coins and have the shopping carts set up same as Europe so you either return your cart or forfeit your dollar. Take your carts back you lazy heathens. Stay off my lawn. Fuck Trump
lightfoot2
Good! Still it should (and will) be stopped by the courts.
incarc
This is exactly the type of thing that a real, and sane department of government efficiency would be looking at. Instead we're left with Herr Muskolini, and Adolph Trump
METROlD
I spent a month in Norway and didnt even realize they dont use cash. It was like.. a year later that some French dude asked how I managed without cash. I had an international credit card that I used for everything without fees. Didnt even notice. Seriously though. The US Treasury does tours, you can plainly see all the work that goes into printing and maintaining physical money. And pennies are the WORST. It should be retired. Its just no longer a relevant idea.
OctopusBaroness
Is this some kind of ruse to raise the cost of everything, tho? (For reference, I'm not an economist or a financial advisor and my eggs are currently at $9.03.)
Casually
I agree this is something genuinely good. Bonus you can point to this as something Trump did that you like if any Trumpers accuse you of simply hating everything he does simply because he is the one that did it.
SterlingArcherSecretAgent
I think most other countries have dropped the lowest value coins. Rounding up/down is a thing.
Ankylosaur
It takes like 200 of them just to buy a plane ticket! It's madness!
ralph2sam
SteveD31415
#1 This is something that's been debated for years. Trump can get away with it because he doesn't care what people say.
DonkeyGoat
That doesn't make a lot of cents
mirrorz
We've tried dollar coins several times and they keep failing. For some reason the treasury decides to always make them just fractionally larger than a quarter and vending machines read them as such.
Ankylosaur
You could always use conveniently sized half dollar coins instead.
littlecoatfatguy
Or the existing dollar coin.
TheChunguskaEvent
fine with this one
MightyIink
We did this in canada over a decade ago and all purchases get rounded to the nearest .05 if you still use physical change.
espaciopantalones
Forget sauce https://www.cnn.com/2025/02/09/business/trump-treasury-penny-production-halt/index.html
tsterling00
He has to go through Congress. Article I, Section 8, Clause 5.
QuestDjinn
Until the zinc lobbyist shows up with his payoff
Shmoaker
His two-bit jerkinomics plan.
Might as well stop making dimes and nickles too.
Everything would get rounded to the nearest .25¢
Twelve cents one way or the other isn't going to really affect the bottom line
thinkybrainpains
It would always be rounded up.
Thorax48
This post makes no cents
fractalsphere
Dropping the penny has been a debate for 40+ years. Literally as long as I remember. But dropping the penny will lead to inflation, everything will get rounded UP to the next nearest nickel or dime or dollar.
HeresYourSauce
Canada didn't.
cosinewave
This has been a topic of discussion for decades and hardly a new or innovative idea. It makes sense and was probably going to happen no mater what scary orange man did or said.
Dpatgotbanned
I thought congress had to do that
Ack210
Fewer pennies mean more nickels will need to be minted. The treasury loses more money on nickels than pennies. (~10 cents more) So he's actually making the problem worse.
HeresYourSauce
Get rid of nickels then. I've been saying that for years.
G081
I just wonder if all things (prices) will be rounded up?
/s
gtollie
All for getting rid of pennies and having dollar coins only ( which we already have ) as far as the shopping carts goes .. that a decision for each business how they want to handle that.. either with coins like Aldi or paying works to corral them .. the government shouldn’t be involved in that decision IMO
HeresYourSauce
I've been in favor of this for years. Can we get rid of nickels too pls?
OriginalAndWitty
I mean, yeah but the penny would be worth more if something was actually done about inflation. But yeah sure, lets just start minting higher currency because every other country that's done that is going so well. Coming soon- Reagan on the new 100,000 dollar bill, Boebert on the 100 dollar coin, and Donny boy himself on the million dollar bill, yeah? It'll be worth half a hamberder by then.
GRZMNKY
Dollar coins are going to the strip clubs REAL interesting...
incarc
You want good money? Become a stripper in Canada. Our smallest bill is 5$
eion85
Strip clubs already tend to give out all the change they can in two dollar notes.
CrispHigh5
Instead of making it rain, you would be making it hail
yougotredonyu
A hard rains gonna fall.
GRZMNKY
CrumbyCake
In Europe they use fake dollars that you exchange for real money. That's how they get past the coins
littlecoatfatguy
Canada did this twelve years ago and we can confirm it’s been working out great.
FoodTastesGood
Yeah, that will help decrease the price of eggs and gas.
ddubya42
well to be fair, the production cost of making pennies is probably higher than they're worth.
WhatSayYouCitizen
It is and has been for a couple decades
phtsl
I read that he can't do it, congress has to approve. So I don't think it's going to happen at least not yet
fractalsphere
He's doing a LOT OF THINGS that "congress needs to approve" but so far no one is really stopping him quickly enough.
Lonecoon
Yes. and him trying to do this is a huge over reach of power. The executive doesn't get to say what currency we use.
TheobromineAddict
Executive? He considers himself to be a dictator, as does his party of sycophants, lackeys and forelock-tuggers.
ahorseelbowdeepinme
If I had a penny for every time he did something he can't legally do I'd be able to buy him and fix all this
eion85
Yup. Takes an act of Congress to do this. I expect the Zinc and Copper mining industry will take him to court and get it reversed because they're the biggest opponent to eliminating the penny.
lackinglife
I've read that also that there's lobbyist from those industries precisely to keep that penny money rolling in.
eion85
Oh, absolutely is.
West Wing covered this topic, and they were correct that the two things that stop a government from doing something are Money and Politics.
Ending the penny is opposed both by monied interests and politicians in Illinois (and Republicans more broadly) who see it as an attack on the memory of Lincoln.
ayers231
...and by lobbyists for Kennecot in Utah.
tsterling00
https://www.forbes.com/sites/timworstall/2015/01/03/its-not-big-zinc-behind-the-campaign-to-keep-the-penny/
eion85
Yes, this one lobbyist works for the coin blank industry. I'm sure they and the Zinc lobby want to keep pennies going.
While zinc is a commodity, penny production keeps the price up overall, and gives the zinc industry a sure customer.
tsterling00
12,500 tonnes of zinc a year is used on pennies. Global production of zinc is 13.5 million tonnes. Penny production is a not a factor on the price of zinc.
eion85
I'm willing to accept I had the wrong Capitalists targeted, but it's still Capitalism's fault ultimately why we can't get rid of pennies (yet)
eion85
Why wouldn't I invest $200,000 a year for a $25,000,000 sure payout every year? That's a 12,400% ROI.
tsterling00
You think the 25 million is 100% profit?
eion85
No, that's fair.
But the author also dismissed out of hand the idea of $25 million in revenue from $200,000 in lobbying with basically "trust me, bro" and I don't trust him on that.
TheUnstoppableWampas
He'll just fire everyone that tells him no. It's a hell of a loophole.
ProppaGanda
As if legality ever stopped him
phtsl
True
skipweasel
How long is the paper dollar going to last? Most places have moved to coins for money of similar value.
eion85
Despite access to dollar coins for a long, long time Americans haven't stopped using one dollar notes.
skipweasel
Most places get round that by withdrawing the paper.
eion85
"they're removing George Washington from our money! They hate America."
HeresYourSauce
Moved to coins? The change I've seen is switching to card/app.
Who is switching to coins?
espaciopantalones
Europe. All euro single and double denominations are coin
HeresYourSauce
Where's the switch though? I didn't think they ever had 1 euro notes (Out side of novelty notes). Same with 2 euro notes.
espaciopantalones
Five euros are the smallest note
skipweasel
The whole Eurozone, the UK, Australia, Sweden, Switzerland, Mexico (as far as I know)....I could go on.
HeresYourSauce
Huh. I figured Europe. They did historically use coins, and never fully switched away. I can't find anything on Australia switching to coins either.
Searching "Australia switching to coin" brought up decimalization and https://www.rba.gov.au/payments-and-infrastructure/central-bank-digital-currency/
Do you have any news articles on this you can find?
skipweasel
https://www.ramint.gov.au/one-dollar
HeresYourSauce
"The one dollar coin was first introduced on 14 May 1984"
I don't mean to be argumentative here, but that doesn't feel like a switch.
SubiBryant
What's the advantage of a coin?
skipweasel
Lifespan. Notes have a very short life and need constant replacement. Coins last decades and can always be melted down and reissued.
SubiBryant
Interesting. I was thinking the weight would be a negative. The lifespan hadn't occurred to me. Thanks.