Penny coins will no longer be minted after this year

[GoldenTV]

Penny coins might be gradually going away. Treasury Department announced that it will end the production of new pennies starting next year as the coin cost more to make (3.69 cents) than its face value (one cent). It will not effect electronic money transactions, but I am guessing for cash transactions, the businesses have to start rounding out cents to the nearest Nickel.

[icecream]

There have to be billions of pennies around from all the decades they were made. Probably won't run out any time soon.

[Dude111]

They first said they were gonna stop pennies in 1999 and luckily they did not......

Its stupid to get rid of them.........

[GoldenTV]

Originally Posted by icecream

There have to be billions of pennies around from all the decades they were made. Probably won't run out any time soon.

That is true. But eventually it will happen as large percentage of them don’t remain in circulation as they are probably stashed in penny jars or junk drawers at home. Or if they fall on the ground people don’t even bother to pick them up, so they end up in the trash. Not to mentioned no more new pennies from the banks

[GoldenTV]

Originally Posted by Dude111

They first said they were gonna stop pennies in 1999 and luckily they did not......

Its stupid to get rid of them.........

I say good riddance. Have you ever stand behind a customer at the counter-or a person trying to get on the bus, and it take them forever to count their pennies to pay

[TheLittleFaerie]

Originally Posted by GoldenTV

Penny coins might be gradually going away. Treasury Department announced that it will end the production of new pennies starting next year as the coin cost more to make (3.69 cents) than its face value (one cent). It will not effect electronic money transactions, but I am guessing for cash transactions, the businesses have to start rounding out cents to the nearest Nickel.

I remember as a kid back in the 80s, they were talking about this very thing, and rounding everything off to a nickel, because even in the 80s it was rare that anything cost under a nickle

[JamesG]

It's possible that a future President could tell the Treasury to mint them again.

[Dude111]

Yes I think it would be g00d!!

[AMackII]

Well just give it either 1, 3 or 5 more years of Pennies being minted if necessary

[Coffeecup]

What I think will happen is, the penny will still be used. It just no more will be made. We still can use them for purchases but most people generally only get them back in change. So the banks will still save them to give to businesses. I will be able to close my Whitman penny holder with the Lincoln penny after this year. Business will still have items listed as $5.99 etc. A whole new change will happen when the prices will go to $6.00 but when that will happen is in the future.

[PhoenixAcres]

I like pennies. I don't have a very good reason but I just think it's a cool concept. Maybe they could just mint 10% of what they normally mint per year. I don't think the demand is that high but it'd be nice to keep having new ones for the sake of tradition and nostalgia.

[opus]

Plus then we’d have to have a poster named Nickel Lane, and I don’t think I could handle that.

[Bonniegirl]

Originally Posted by opus

Plus then we’d have to have a poster named Nickel Lane, and I don’t think I could handle that.

[Bonniegirl]

Originally Posted by PhoenixAcres

I like pennies. I don't have a very good reason but I just think it's a cool concept. Maybe they could just mint 10% of what they normally mint per year. I don't think the demand is that high but it'd be nice to keep having new ones for the sake of tradition and nostalgia.

I agree ! I'm kind of sad to see them go. I love the pretty , shiny copper color of new pennies .

I have several large old coffee cans filled with pennies . I think lots of people have " A penny saved is a penny earned" , so even if they aren't made anymore , I'm sure they will still be able to stay in circulation for a while. I hope !

[GoldenTV]

Originally Posted by Bonniegirl

I have several large old coffee cans filled with pennies . I think lots of people have " A penny saved is a penny earned" , so even if they aren't made anymore , I'm sure they will still be able to stay in circulation for a while. I hope !

I also have a jar full of coins-minus penny coins which I tend to throw away when emptying my pockets. So I already have moved from the old phrase "Pinching Pennies" to the new phrase "Pinching Nickels"