Pre 1982 pennies have 1.7 cents metal value in them. Ignoring all the other costs involved, if you sold them for metal value, you would make a 70% profit, which would be an outstanding return on a short term investment. The other costs are the problem.

Keith

The cost of making a penny is 3.69 cents, or over 3 times the value of a cent piece.
The U.S. Mint lost $85 million producing pennies in fiscal year 2024.

I think getting rid of pennies isn't a good idea, but Trump isn't the first president to talk about getting rid of pennies. Obama suggested it too.

I guess if all prices get rounded down to the closest nickel it'd be fine, but I don't know think that will happen. Businesses that make millions of dollars know that those pennies add up, and won't be willing to give them up.

Worked for a rich man for awhile in Columbus building cabinets, Mr Wassatrumn he always told us ..watch your penny's the dollars will take care of themselves..

dont think that will work anymore

Order has been signed by Donald....they are done by his signature

Only thing they did not think out was to take up the slack with more nickels

Canada has been 13 years with-out pennies

My Grandmother always said the same. I still pick up every penny I see.

I spend all pennies made after 1982 and keep all made before. I've done that since the late eighties.

Keith

Count out 146 pre-1982 pennies = one pound 85% copper = 5$ pound Cu prices now

The last coin that was discontinued was the half cent. If you adjust for inflation, that would be synonymous with ditching the dime today. Penneys represent an insignificant digit. You haven't been able to buy anything for a penny for many years now. Same can be said for the nickel.
You can drill a hole in a nickel to make a rust free washer. A stainless steel washer will cost you half a dollar.

Trimes and two cent pieces were discontinued in 1873. Half cents were discontinued in 1854. Trimes and 2 cent pieces were discontinued 19 years after half cents were. I have about a dozen trimes including both the silver and nickel ones. I only have 3 two cent pieces.

The only smaller coins I have than trimes are Mexican, Maximillian I gold pesos.

Keith

But we had Biden / Harris they spoiled you .LOL

I just heard a talking-head say that if you wouldn't bend over to pick it up, then it's not worth making it. I'm finding that pretty hard to argue against. Plus, if it costs more to make than it's worth, I can't really justify that either.

If this is true then?
I should be allowed to scrap my stash of pennies for profit.
If doing so is considered defacing them and not allowed. Then the government should impose a mandatory recall of all pre 1982 pennies. Pay the person bring them in at their face value rounded up to the dollar. Then sell the copper scrap to the highest bidder. Help pay down the nation debt or put it towards cost of printing phoney paper bills.

Mac

In Ecuador instead of giving you back 1 sucre (Ecuadoran equivalent penny) stores would often just throw a penny candy down on the counter for your change.

Yes, and that's the reason they want to stop making them. That's just common sense. It's cheaper to just round amounts off.

Only the gubmint can produce something for 3.5 cents thats only worth 1 cent and continue to do it for years. Meanwhile Im one bad deal from going out of business every transaction I do.

Something to consider... yes pennies cost almost $0.04 to mint, but a nickel costs closer to $0.14. So if you're rounding to the nickel, those cost almost an extra dime to mint. Maybe we need to *gasp* follow the Canadian model and re-think the metal content of our nickels. The Canadian nickel is mostly zinc.

I believe Canada stopped minting pennies in 2012 and stopped using them in 2013. Did the Canadian government buy back pennies that were already in circulation? Would the US government buy back american pennies at face value?

As I understand it, The penny ain't going anywhere because Lincoln's likeness is on it, and Illinois has a great deal of influence in that decision.

Melt them down.

Little old lady with her change purse would go crazy if your took the penny away.