U.S. Just Killed The Penny After 231 Years—Here’s Why

Benzinga

The US just killed the pennies. 231 years gone, but it's gonna save the US million. The US Treasury says minting pennies cost more than they're worth. Each one costs nearly 4 cents to make. And guess what? We throw away or forget? Nearly $68 million worth of coin every year. Donald Trump officially ended production of them calling them wasteful.  Elon Musk's Department of Government Efficiency exposed the numbers, and now we're saving $56 million annually. Pennies have been around since. 1793, but now like in Canada and the uk, their history, and this might change how prices work at stores forever. No more pennies. No more. Take a penny. Leave a penny.  So what do you think? Should we phase out all coins next?

Transcript

00:00The U.S. just killed the penny. 231 years gone. But it's going to save the U.S. millions.

00:06The U.S. Treasury says minting pennies costs more than they're worth. Each one costs nearly

00:11four cents to make. And guess what? We throw away or forget nearly 68 million dollars worth of coins

00:17every year. Donald Trump officially ended production of them, calling them wasteful.

00:22Elon Musk's Department of Government Efficiency exposed the numbers, and now we're saving

00:2656 million dollars annually. Pennies have been around since 1793, but now, like in Canada

00:32and the U.K., they're history. And this might change how prices work at stores forever.

00:37No more pennies. No more take a penny, leave a penny. So what do you think? Should we phase

00:42out all coins next?

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