A penny for your thoughts. A penny saved is a penny earned. In for a penny, in for a pound. I’d rather have four quarters than one hundred pennies. The first three, gone. The last quote…very much a reality. Why? Because, in case you haven’t heard, the penny has died. The United States Mint has stamped it’s last penny.
First coined in 1793, the penny now costs more that 4 cents to make and earlier this year, President Trump decided it was too wasteful. Talk about getting rid of the penny started clear back in 1992. There are fears of a penny shortage that could affect retailers, particularly when people use cash to pay for items. There is a bill in congress called the “Common Cents Act” that would round cash transactions to the nearest five cents. But, don’t worry, there are still more than 300 billion pennies still in circulation, those count the thousands you may have stuffed in empty liquor bottles on your dresser…. Wait, you don’t do that? Oh, me either.
One interesting note, the last time a coin was discontinued in the United States was 168 years ago, back in 1857 when the half cent coin stopped production.
