Everything you buy will just be rounded up to the nearest five cent point, so that will be annoying. A very small but forced transfer of wealth, but a transfer nonetheless.

Not really a transfer of wealth. From what I have heard some businesses will be rounded up or down for a cash sale. Example $2.52 becomes $2.50 / $2.53 becomes $2.55. Should have zero effect with a card sale.

 

Not really a transfer of wealth. From what I have heard it will be rounded up or down. Example $2.52 becomes $2.50 / $2.53 becomes $2.55

You show me one business owner that will choose to round down and I’ll sell you a bridge for a penny

 

We will have to wait and see. I have heard it both ways on cash sales.

 

Unless it’s legally mandated somehow, there is no chance any business owner will make the choice to round down. Maybe some feel-good woke coffee shop, but they’ll just quietly raise their prices ten cents across the board to make up for it.

 

Will you be impacted by the US ending penny production?

The Treasury made its final order of penny blanks this month, the Journal reported, citing a spokesperson, meaning the Mint will only produce pennies until it runs out of blanks. The end of the penny will mean businesses will have to round up or down prices to the nearest five cents, the spokesperson added.

The Treasury and the U.S. Mint, which is responsible for producing the nation’s coins, did not immediately respond to Nexstar’s requests for comment.

 

As said, there are plenty in circulation already. Unless people start hoarding them, nothing should change.

 

I thought Canada did away with pennys years ago, how did it affect their prices?

be safe, schick

 

How many blanks were ordered?

 

Make it so price listed is price paid if it 2.50 cent it 2.50 cent tax is already included.
In my state we have six cents sales tax they will have to change that

 

I don't think there will much effect at all. Most people already pay with something other than cash and even when you do it's not like paying an extra 3 cents is noticeable if your already spending $5.23 or $55.36, It's not like they round up or down on every item...just the sum of all items. Most of my cash is used paying an individual for something or cash tips.

 

"A penny for you thoughts".

After a decade+ of people posting their free thoughts on social media most of us now realize too many pennies have been wasted in the past.

 

Don't know why it's taken so long to do this, typical bureaucracy. I was in Germany 83 - 87, they had already done away with their penny.

 

They should get rid of a thing less than a quarter. Hell, quarters became useless when arcades disappeared.

 

You haven't been to a laundromat I take it.

 

A Nickle for your thoughts?? Naaaa

 

If anyone wants to stock up on pennys hit me up. Only $.05 a piece 🤣

 

I have a gallon jar full of them…….retirement savings…lol

 

Australia canned the 1c piece maybe 20 years ago. If not more. We rounded down @ 2 and up @ 3.

 

Is that rounding legally mandated, or just something that everyone chooses to do on their own?

 

We already knew this was coming.
As posted, many countries around the world did it years ago and they haven't collapsed!!!

https://www.yellowbullet.com/threads/president-trump-has-directed-us-treasury-to-stop-minting-new-pennies-citing-rising-cost.2698968/page-2?post_id=74526207#post-74526207

 

So.........

What about the billions already in circulation?

It's not like there is a shortage. Unless, people artificially create one.

 

People throw them in jars and they stay there. That's a problem.

 

I have a bucket and a half worth of just copper pennies. Every day when I get home I go through my change and separate the copper pennies from the newer zinc ones and save the coppers. Been doing that for probably 20 years now.

 

You mean I can't give you my 2 cents worth anymore?

 

Oh, Yippee. We're going to save so much when the penny costs 3.7 cents to make, whereas each nickel costs 13.7.
As the commercial used to say, "Brilliant"

 

rtconv, don't you love it when you try to make someone else looks stupid and it turns out you are a complete moron! There are 28 times the pennies manufactured as nickels. The manufacturing cost in 2024 was $119,009,800 for pennies and $15,543,840 for nickel. Looks like our leader is brilliant, cutting pennies saves almost eight times the manufacturing cost verses cutting nickels. I hope finance is not your day job. Actual penny manufacturing cost $.0369/ actual nickel manufacturing cost $.1378

 

how will the jews make wire?

 

Pennies aren't worth the time to roll them.

 

Who rolls coins anymore?

Most banks and credit unions have coins machines. Mine doesn't charge anything.

I have a couple canvas bags in my nightstand. When they get full, I cash them in. Usually ~$250 per bag.

 

The U.S. Mint doesn’t officially produce pennies. Penny is a nickname sourced from the British coin of the same value. The technical and official name of the U.S. Coin is one cent piece. It even says so on the coin…

 

Not to change the subject but did everyone notice back in covid how the odd change in totals on purchases came to existence.
I pay cash at drive thru all the time and a ash tray full of change help out

 

We all know they want a cashless society till that happens and all states have go with a tax that will be a 5 cent or or 10 cent tax to do away with 3 cent 7 cent 6 cents denomination pennies are here to stay