Elimination of the Penny
The U.S. government announced that it will no longer produce pennies. The last pennies were minted in November, 2025.
Above, Remi Chester using pennies in an unconventional way.
It is expected that businesses will round prices to the nearest nickel.
Above, a sculpture made out of thousands of pennies.
Eventually, the only people possessing pennies will be coin collectors, like the guy above.
What next? Will we reach the point where the dollar bill will also become obsolete? Not any time soon, but my theory is that at some point in the future, neither coins nor paper money will be used, because all monetary transactions will be electronic.
We might not even use credit cards – perhaps people will poke their finger into a receptacle that reads their fingerprint and pays the bill. OK, probably not that receptacle.
People will look back at us as primitive for using coins and cash.
But for now, some of us will remember the penny with nostalgia.
11 comments:
One reason given for eliminating the penny is because it costs more to produce than it's worth. That may be, but a penny lasts for decades. And decades. So overall, minting a penny is very cheap.
Predictions of the end of cash has been around many a decades. I still use cash! Long live cash!
Getting rid of coins and cash is just another way to let our corrupt financial institutions control us. Wells Fargo anyone ? With all their scandals you think their bank charter would have been stripped from them. Already there’s push back on getting rid of pennies from merchants.
It will be interesting to see if the penny totally disappears.
In Canada we got rid of the one cent penny Febr 14 2013 and never seen any issue about it.
Our banking laws are also different from USA as our federal mint commission.
We have also $1, $2 in coins which is ok.
But also, we here more use our debit card than our credit card as in USA and we carry less real money in our pockets.
I have rarely used cash (or paper checks) for many years now and don't miss it at all...
In Canada we got rid of the penny in 2013 and we have not looked back. Before that, we got rid of our one dollar note in 1989 an introduced a one dollar coin, that we refer to as the Loonie. We then followed with the two dollar bill and replaced it with a coin, referred to as a toonie in 1996.
In the town where I live, businesses are rounding up no matter the total.
I still use cash/coins for small/incidental transactions. But the US is just catching up. Australia stopped producing 1c and 2c coins back in the 90s.
4 penny to measure my cock!
Since the Canadien 1 dollar coin is the Loonie, why isn't their 2 dollar coin the Doubloon?
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