Bye Bye Penny

Discussion in 'Coin Chat' started by Bill in Burl, May 22, 2025 at 5:43 PM.

  1. Bill in Burl

    Bill in Burl Collector

    SensibleSal66 likes this.
  2. Avatar

    Guest User Guest



    to hide this ad.
  3. Clawcoins

    Clawcoins Damaging Coins Daily

    yup, I just read this article about it
    https://news.yahoo.com/finance/news...is-saying-so-long-to-the-penny-165709511.html

    excerpt:
    The Treasury Department will begin phasing out the penny early next year, ending a run for a mainstay piece of American currency first produced by the federal government in the 1790s.

    This month, Treasury has made its final order of penny blanks — the material used to make pennies — and its coin producer at the US Mint will continue to manufacture pennies while an inventory of penny blanks exists.

    But production will cease after that inventory runs out, a decision first reported by the Wall Street Journal.

    ... Americans are using cash far less often. Cash remained the third-most-used payment instrument, accounting for 16% of payments in 2023, down two percentage points from 2022, according to the Federal Reserve.

    ... Businesses will need to start rounding up or down to the nearest 5 cents, though non-cash transactions will continue to be priced at exact change.
     
    Last edited: May 22, 2025 at 8:41 PM
Draft saved Draft deleted

Share This Page