Thoughts on penny production ENDING 2023?

I'm not sure what would make sales tax an exception.

The rate here is 7.5%. Should I feel cheated because I can't use a half-cent coin?

And when my total purchase is $3.87 with 29.025 cents tax, or $21.62 with $1.6215 tax, or $1013.11 with $75.98325 tax -- who cares if rounding means I pay $3.15 or $3.20 instead of $3.16, $23.20 or $23.25 instead of $23.24, $1089.10 instead of $1089.09?

 

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Not to worry...not gonna happen anymore than SS ending/going broke (predicted for decades), the sky falls or the cows come home...

 

Of course not.

In order to round to the nearest nickel or dime you actually have to be able to do that thing called math.

How many times have you read stories about people unable to make change. Giving that deer in the headlights look when you hand them $10.15 for a $9.14 meal.

 

Not a chance. Coinage is struck based solely on the need of commerce. Since 2010 the cent has consistently risen in mintage totals by large numbers year after year. Add in that the Federal Reserve processed nearly 2.5 billion in change (circulating from bank deposits to Reserve and not new from the mint) during 2019 proves the usefulness of coinage, especially the one cent.

 

There sure will be, because they will disappear from circulation within about a year or less.

Actually it doesn't. it says MAY issue. Title 31 Section 5112

(a)The Secretary of the Treasury may mint and issue only the following coins:
(1)
a dollar coin that is 1.043 inches in diameter.
(2)
a half dollar coin that is 1.205 inches in diameter and weighs 11.34 grams.
(3)
a quarter dollar coin that is 0.955 inch in diameter and weighs 5.67 grams.
(4)
a dime coin that is 0.705 inch in diameter and weighs 2.268 grams.
(5)
a 5-cent coin that is 0.835 inch in diameter and weighs 5 grams.
(6)
except as provided under subsection (c) of this section, a one-cent coin that is 0.75 inch in diameter and weighs 3.11 grams.

 

Interesting, the commemorative coin programs say SHALL.

MAY makes it easier, combined with the Secretary's discretion as to quantity. 0 is a quantity.

 

Not again. That’s like the 10th April 1st I’ve heard. Hope the mint changes their mind again. Let us Pray

 

Now that’s a good April fools statement

 

Yeah like 5 gummy dollars. 10 sim sins. 5 peach stones. A bunch of shoelace licorice. Should I go on!!!

 

There would be nothing left for me an @paddyman98 to pick up of the streets in NY STATE. hmmm got me thinking. Maybe there’s going to be more dimes on the ground.

 

Oh. Big tipper I guess

 

The forum should have a filter for this question and ban anyone that posts it, invariably it is posted roughly once a month and is NEVER going to actually happen.

I'm all for getting rid of the cent, nickel, dime, quarter, half, dollar coins, and $1,$2,$5, $10. Just $20, $50, and $100s and some bigger bills.

Man this inflation is a KILLER!

we could shut down the mint, and just print money that makes big profits~! SAVING!

 

Those were the days!

 

Oops, wrong thread

 

Well I hate to say but I think it is the end of penny's after all I hope it was a joke I've gotten into penny's more than ever

 

Well I hate to say but I think it is the end of penny's after all I hope it was a joke I've gotten into penny's more than ever

 

Well I hate to say but I think it is the end of penny's after all I hope it was a joke I've gotten into penny's more than ever