“We have been advocating abolition of the penny for 30 years. But this is not the way we wanted it to go,” Jeff Lenard of the National Association of Convenience Stores said last month.

Some banks, meanwhile, began rationing supplies, a somewhat paradoxical result of the effort to address what many see as a glut of the coins. Over the last century, about half of the coins made at mints in Philadelphia and Denver have been pennies.

But they still have a better production cost-to-value ratio than the nickel, which costs nearly 14 cents to make. The diminutive dime, by comparison, costs less than 6 cents to produce, and the quarter nearly 15 cents.

Back in 1793, a penny could get you a biscuit, a candle or a piece of candy. These days, many sit in drawers or glass jars and are basically cast aside or collected.

No matter their face value, collectors and historians consider them an important historical record that can be traced back for more than 200 years. Frank Holt, an emeritus professor at the University of Houston who has studied the history of coins, laments the loss.

“We put mottos on them and self-identifiers, and we decide — in the case of the United States — which dead persons are most important to us and should be commemorated," he said. “They reflect our politics, our religion, our art, our sense of ourselves, our ideals, our aspirations."

>>1457182
Not a terrible decision, but there is a problem with this that should've really been thought out before they did this; everyone has to figure out how to deal with change and rounding up to nickels now. We're not the first country to do this but the others made sure to lay out how things would work afterwards, while we didn't.

>>1457185
If the nanny state didn't tell you to wipe your ass without shitting, would you walk around with a shit covered anus all the time?

>>1457185
Lack of planning and horrible consequences are the trademark of Trump's administrations.

>>1457188
Ok bud, what do you do? Round up or down? And what about the states that are legally required to give exact change still?

It isn't an overnight issue but some guidance and outlines would've been nice before committing.

>>1457182
One of the things they got right, Canada ended production of their pennies over a decade ago without issue.

>>1457192
Just follow the same guidelines that Canada used for the last decade

>>1457195
The only problem is there's a lack of guidance for it beforehand. Canada had a full plan laid out. Trump admin just kinda did it and now everyones gotta figure out what to do now in terms of rounding and states that legally require exact change.

>>1457192
>Round up or down?
Why are you asking me? This sounds like a question for each business to decide, and some its not going to matter because they're online only and it doesn't affect them.
I don't need a government mandated reason to force me into a specific answer, mostly because of retarded interactions like...

>And what about the states that are legally required to give exact change still?
Legally they either need to keep pennies on hand, or only do card translations.
Is this hard for you? It seems pretty simple if you're not retarded.

Sounds like those states need to do something,
When was the whole penny thing announced? I'm sure they've had time, and if not the retards in those states deserve the problems they run into because they elected retards

>>1457204
>Why are you asking me? This sounds like a question for each business to decide, and some its not going to matter because they're online only and it doesn't affect them.
>Legally they either need to keep pennies on hand, or only do card translations.
Yeah those are all inconveniences that could've been hashed out if we went in with a plan.

>>1457210
again, here you are demanding that daddy tell you to wipe your ass and if you don't you'll run around smelling like shit all the time.
Its not like pennies are being removed, they still exist

>>1457182
The $.99 mind trick is ending!!
Holy shit, are we going to see prices of 1.95 now and Moshe will miss out on $.04? Or will the jews finally make the prices $2?

>>1457204
>When was the whole penny thing announced?
It was only 6 years ago, CHUD. No one's had a second to plan.

>>1457212
They still exist and will still be usable. However, stores can no longer be certain to have an supply of them and laws have to be changed and created to reflect that. All shit Canada figured out in advance and enacted BEFORE they started cutting pennies and we didn't.

>>1457219
This answer was predicted here: >>1457218

>We're going to save the taxpayers $56 million
>Cancelling the penny will cost consumers $57 million
Why must they be like this?

So are stores going to stop pricing everything as $x.99 since you can't make 99 cents in cash anymore?
Also is there a reason they can't just have the register automatically round up the total to the nearest nickel? Or maybe they should round down for cash payments since they don't have to pay the card transaction fees on those.

>>1457303
I imagine it will take several years, maybe as long as 10 or 15 years, before they start doing that since there are millions of pennies still in circulation.

>>1457303
Various states have laws that require stores to give exact change. Those laws need to be changed and new ones reflecting whether to round up or down to the dime need to be made. That takes time for people to fully agree on.

I offered Trump a penny for his thoughts. He took the penny, but he didn't give any thoughts.

>>1457303
Anon...Imagine a $7.00 payment with a 7.5% sales tax. What does that cost?

>>1457182
This is one of the few things that I agree with Trump on. No sense in continuing to mint coins that are a net loss financially. The USA got rid of the half penny in the 1800s for the same reason.
Just have to negotiate what prices will look like going forward in various industries. But it will be good to save the 20-25$ million or so that the USA loses yearly from penny production

>>1457353
Indeed. Sales tax should be illegal.

I’m mad.