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Deminpenn

(16,929 posts)

35. Trump has no idea how the US Mint works

Mon Feb 10, 2025, 02:07 PM

Feb 2025

The justification is that it costs 3 cents to make a 1 cent coin. But the Mint sells currency to the Treasury at face value, so while they "lose" money selling pennies, they make money when they sell the other coins at their face value.

This was explained to me by a former work colleague whose parent was a big mahof at the local US Mint.

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Trump instructs Treasury to halt penny production [View all] BumRushDaShow Feb 2025 OP

It's worked in Canada. We just round up or down to the nearest nickel. n/t OnlinePoker Feb 2025 #1

There's a lot to be said for having just paper currency.nt Phoenix61 Feb 2025 #2

Canada uses plastic (in color) and have transparent zones... Justice matters. Feb 2025 #16

obsolescence of the penny, just one of the many advantages of the coming runaway inflation. uncle ray Feb 2025 #3

I wrote a paper advocating this in college over 20 years ago. N/t Calista241 Feb 2025 #4

My god! This is the first decision he's made that I agree with! CaliforniaPeggy Feb 2025 #5

me too Lionel Mandrake Feb 2025 #15

Right there with you! CaliforniaPeggy Feb 2025 #17

Me too! Luciferous Feb 2025 #25

It horrifies me to have to say this... GiqueCee Feb 2025 #32

It won't change that aspect intrepidity Feb 2025 #36

Most countries in Europe rarely used anything below 5 cents, even in countries that don't use the Euro tornado34jh Feb 2025 #6

No more $.99 prices then IronLionZion Feb 2025 #7

In Canada, credit/debit card transactions still count pennies Justice matters. Feb 2025 #14

Do sales taxes round up/down too? C_U_L8R Feb 2025 #28

The totals that include the sales taxes do. Justice matters. Feb 2025 #34

When I was stationed in Germany (1979-1981) the US stopped shipping pennies over. SeattleVet Feb 2025 #8

its the magats that want the penny samsingh Feb 2025 #9

Eric and Jared were seen robbing change sorting machines prior to the run on pennies coming usonian Feb 2025 #10

I'm sure if they put his face on it he would want them to make nothing but pennies jgmiller Feb 2025 #11

Ah, if only he were eligible to have his ugly mug on a coin! SeattleVet Feb 2025 #12

Problem is, the sick convicted felon thinks he is above all laws. nt Justice matters. Feb 2025 #18

I see the Tangeranus has yet again yanked the spotlight on himself. Hugin Feb 2025 #13

It's been talked about for years, but I've always opposed it Polybius Feb 2025 #19

As ending the penny should be opposed. The penny symbolizes freedom. Hugin Feb 2025 #24

That's not why I've always opposed getting rid of the penny though Polybius Feb 2025 #38

I learned stuff like that from having a second grade teacher who was a civil rights firebrand. Hugin Feb 2025 #39

Next Dem President should introduce a 2-cent coin ... eppur_se_muova Feb 2025 #20

Well, just make it out of cheaper material then. But we need pennies for accurate payment and change. SunSeeker Feb 2025 #21

1) If the penny had Ronald Reagan on it, I bet Trumpf wouldn't have proposed this; 2) Felon Musk must want the metals. C0RI0LANUS Feb 2025 #22

Next: The $1 bill. mwooldri Feb 2025 #23

Going to end that silly ass .9 at the end of a gallon of gas too? Bengus81 Feb 2025 #26

Big deal ass munch...more cover for your fucking Contract on Americans Bengus81 Feb 2025 #27

Before DJT is done we'll stop printing the dollar bill. JohnnyRingo Feb 2025 #29

MaddowBlog-Trump's pennies order adds to list of legally dubious power grabs LetMyPeopleVote Feb 2025 #30

He continues to proceed as if there is no "Article I" of the Constitution, only Article II BumRushDaShow Feb 2025 #33

West Wing Flashback-Elimination of the penny LetMyPeopleVote Feb 2025 #31

Trump has no idea how the US Mint works Deminpenn Feb 2025 #35

Good point. intrepidity Feb 2025 #37