Penny Poacher

No more pennies:

The decision was unveiled through a post on social media, where Trump highlighted the financial inefficiency associated with penny production as the primary motivation for his proposal. The cost implications he referred to revolve around the expense of manufacturing a single penny, which currently exceeds two cents. These production costs have been a point of concern, evidenced by last year’s U.S. Mint report, which indicated that the process of making and distributing each penny amounts to more than three and a half cents. This move by the President touches on broader discussions regarding currency production and the economic feasibility of maintaining small denominations in circulation. The debate over the penny has been longstanding, with arguments focusing on economic logic and sentimentality attached to the coin. As of now, the Treasury Department has not issued a detailed response to Trump’s announcement. The proposal raises questions about potential changes in cash transactions and the handling of pricing strategies that rely on penny increments. This decision aligns with Trump’s previously stated initiatives to streamline government operations and reduce wasteful spending.

The penny is dead, long live nickles and dimes...